Part 4900.2706 - SELECTION CRITERIA The agency shall take the following criteria into consideration when determining whether an application and applicant will be selected for a loan from a family rental housing program:
A. the documented need for the residential housing in the proposed geographic area;B. the ability of the applicant to proceed expeditiously with the development;C. the applicant's prior experience in developing, owning, and operating residential housing;D. the cost and quality of the proposed housing;E. the geographic distribution of loan funds, to the extent that loan funds can be used to assist projects throughout the state;F. the relationship of the proposed development to public facilities, sources of employment, and services, including public transportation, health, education, and recreation facilities;G. the appropriateness of the development for occupancy by families; andH. the extent to which the loan funds are combined with other sources of funding to make the development economically feasible and rents affordable for low-income families.Minn. R. agency 148, ch. 4900, FAMILY RENTAL HOUSING LOAN PROGRAM, pt. 4900.2706
Statutory Authority: MS s 462A.06