R 125.141 Multifamily mortgage loan applications.

Rule 141. An application for a mortgage loan must include information, and where required by the authority staff, supporting materials, and evidence, with respect to all of the following: (a) The status of the applicant as an eligible applicant. (b) The site of the proposed housing project, including location, dimensions, ownership, present zoning, present use and occupancy, and relocation requirements as to present occupants; present on-site improvements, such as streets, utilities, and structures; status of off-site utilities and streets; present property taxes and assessments; utility charges; liens or other charges on the land; and all physical characteristics of the site that may affect construction. (c) The status and characteristics of the proposed housing project, including number and size of dwelling units; type of occupancy, including ownership, rental, or cooperative; rehabilitation or new construction; building type; federally-aided mortgage or otherwise; and social, recreational, commercial, and communal facilities proposed to serve and improve the residential area in which the proposed housing is or is to be located. (d) Identity and qualifications of the design architect, supervisory architect, applicant's attorney, housing consultant, general contractor, marketing or sales agent, and management agent. (e) Architectural drawings and specifications, site plan, schedule of construction costs, reports of soil tests or engineering studies performed, and evidence of approval of the architectural drawings, specifications, and site plan by governmental bodies having jurisdiction. (f) Proposed marketing plan reports of market surveys or analyses, schedule of proposed rents, occupancy charges or sale prices, proposed operating budget, proposed management plan, proposed relocation plan and cost analysis, schedule of the proposed uses of the requested mortgage loan and the amounts to be allocated to each such use including the applicant's equity investment, where applicable, and a proposed construction schedule. (g) The applicant's compliance with, and the fulfillment of, the terms and conditions of any prior determination by the authority that the proposed housing project is a feasible housing project. (h) The applicant's proposed plans for compliance with the nondiscrimination provisions of section 46 of the act, MCL 125.1446, and the proposed affirmative action plans for minority group employment in construction of the proposed housing project. (i) Other matters as to the proposed housing project, the applicant, and other parties involved in the housing project as the authority staff and the executive director may require.