Application process for nonprofit corporations (Repealed)

(a) Applications from nonprofit corporations for approval of each housing program shall be filed with the Department on or after January 1, but before February 1 annually. The time of receipt of an application shall be deemed to be the time of filing. (b) As part of the application approval process, the nonprofit corporation shall be required to furnish the following regarding each housing program submitted for approval: (1) A description of the housing program, including the total number of families to be served, the number of families to be served at or below 25% of the area median income, the number of families with incomes greater than 25% and not more than 50%, the number of families with incomes greater than 50% and not more than 80%, and the number of families with incomes greater than 80% and not more than 100%; (2) Evidence of housing need; (3) Evidence of the general administrative capability of the nonprofit corporation to develop, sponsor or manage the housing program; and (4) The estimated amount of contributions required to be invested in the housing program. (5) The readiness of the project to be built; and (6) Evidence that any funds previously received by the nonprofit corporation for which a voucher was previously issued were used to accomplish the goals set forth in the application. (c) Such information will be evaluated according to the following five categories: (1) Target Population - Maximum of 60 points Includes but is not limted to: the extent that the proposal serves families, homeless persons or elderly persons; the extent to which the development will promote a mix of very low, low, and moderate income families. (2) Geographic Location - Maximum of 40 points Includes but is not limited to: target municipality's participation in the regional housing compact and/or the Connecticut Housing Partnership Program; percent of assisted housing within the target municipality, as defined under the affordable housing appeals procedure, in Section 8-30q of the Connecticut General Statutes. (3) Type of Housing Program - Maximum of 40 points Includes but is not limited to: the extent to which a proposal adds to the existing supply of affordable housing through the construction of new affordable housing, substantial rehabilitation of existing structures or the acquisition of existing housing which is not currently affordable or the creation of a revolving loan fund for loans to individuals; the methods used to ensure long term affordability and the duration of affordability. (4) Administrative Capability - Maximum 30 points Includes but is not limited to: the applicant's past performance in developing, completing, and managing affordable housing developments; its past performance under the tax credit program and the adequacy of their administrative funding. (5) Readiness to proceed - Maximum 30 points Includes but is not limited to: the applicant's planning and construction timetable, its presentation of evidence of preliminary or firm commitments for financing from acceptable financial institutions. (d) Developments receiving an allocation of federal low income housing tax credits pursuant to section 42 (h) of the Internal Revenue Code of 1986, as amended, may receive a maximum of twenty (20) additional bonus points provided documentation is submitted that evidences the development has been approved for an allocation of federal low income housing tax credits. (e) The Commissioner may, from time to time, request additional information from the nonprofit corporation. The nonprofit corporation shall agree to maintain complete and accurate books and records insofar as they pertain to contributions to a housing program for a tax credit voucher, and shall consent to furnish the Commissioner with financial statements and other reports relating to the operation of the program in such detail and at such times as he may require. (f) The Commissioner shall publish on or after April 1 but before May 1 each year, the list of eligible housing programs of nonprofit corporations to which business firms may contribute.