Findings

In approving Projects that will receive funding through CIPF, the Department shall make the following findings: (1) that the housing would not by private enterprise alone and without government assistance be available to Low or Moderate Income Persons or Families and Very Low Income Persons and Families; (2) that the amount of the assistance appears to be the minimum amount necessary to make the housing development feasible; (3) that with respect to rental housing, the operations of the owner, including any pertinent articles of organization and bylaws, and any changes in management operations or corporate structure, will be subject to regulation by the Department; (4) that the housing shall remain affordable for its useful life as determined by the Department; (5) that provision of the housing will be of public benefit and for a public purpose; and (6) that the owner is current on all existing mortgage obligations with the Commonwealth of Massachusetts on any political subdivision thereof.