SELECTION CRITERIA FOR APARTMENT RENOVATION MORTGAGE PROGRAM LOANS

In determining whether or not to accept applications for apartment renovation mortgage loans, the agency shall take the following criteria into consideration: A. whether the location of the structure to be improved is such that it will enable the housing to be successfully marketed at the proposed rents; B. accessibility to schools, shopping, health care, recreation and social facilities, and centers of employment; C. availability of a convenient access to public transportation; D. availability and proximity of adequate sewer and water facilities, public utilities, and paved roads; E. freedom from serious adverse environmental and site conditions; F. the extent to which displacement of residents is minimized; G. rental management qualifications and financial strength of the owner; and H. reasonableness of property and property related costs.