Application and approval procedures

(Other Developers) The following application and approval steps shall apply to all moderate rental housing program projects to be developed by developers other than housing authorities: (a) Invitation to submit a preliminary proposal; (b) Submission of a preliminary proposal; (c) Approval of preliminary proposal by the commissioner; (d) Submission of a formal application; (e) A public hearing to be held by the commissioner in the municipality where the proposed project will be located pursuant to section 8-74 (1) Connecticut General Statutes; (f) Site approval by the commissioner; (g) Approval of formal application by the commissioner; (h) State bond commission approval; (i) Issuance of mortgage commitment letter to developers; and (j) Approval of the proposed methods of financing, the proposed rents, the income limits for admission and continued occupancy and a detailed estimate of the expenses and revenues thereof by the commissioner pursuant to section 8-74 (3) of the Connecticut General Statutes.