Findings

In approving Projects that will receive funding through the HSF, the Department shall make the following findings: (a) that the housing would not by private enterprise alone and without government assistance be available to Low or Moderate Income Persons or Families; (b) that the amount of the assistance appears to be the minimum amount necessary to make the Project feasible; (c) 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, except, if funded pursuant to HSF I, HSF II, HSF III, HSF IV Legislation or M.G.L. c. 121F, for housing meeting the requirements of 760 CMR 24.04(2); (d) that, subject to the requirements of 760 CMR 24.05(1), (2) if funded pursuant to HSF III, and (3), the housing shall remain affordable for its useful life as determined by the Department, except for housing meeting the requirements of 760 CMR 24.04(2); and (e) that provision of the housing will be of public benefit and for a public purpose.