Section 42-55-5.3 - Letters of eligibilityThe corporation shall issue all letters of eligibility for low - and moderate - income housing for applications made pursuant to chapter 53 of title 45.
(a) Evaluation of requests for letters of eligibility: (1) The corporation shall establish for each application: (i) The name and address of the applicant;(ii) The address of the site and site description;(iii) The number and type (homeownership or rental) of housing units proposed;(iv) The name of the housing program under which project eligibility is sought;(v) Relevant details of the particular project if not mandated by the housing program (including percentage of units for low or moderate income households, income eligibility standards, the duration of restrictions requiring low or moderate income housing); and(2) The corporation shall determine: (i) That the proposed project appears generally eligible under the requirements of the housing program, subject to final review of eligibility and to final approval;(ii) That the subsidizing agency, or the corporation, has performed an on-site inspection of the site and has reviewed pertinent information submitted by the applicant;(iii) That an initial pro forma has been reviewed and the project appears financially feasible on the basis of estimated development costs;(iv) That the developer meets the general eligibility standards of the housing program; and(v) That the applicant controls the site.(b) The corporation shall provide a copy of the letter of eligibility to the administrative officer of the local review board of the city or town in which the project would be located. R.I. Gen. Laws § 42-55-5.3
Amended by 2022 Pub. Laws, ch. 408,§ 2, eff. 6/30/2022.Amended by 2022 Pub. Laws, ch. 407,§ 2, eff. 6/30/2022. P.L. 2004, ch. 286, § 3; P.L. 2004, ch. 324, § 3.