SELECTION CRITERIA

The agency shall take the following criteria into consideration when determining whether an application and an applicant will be selected for a loan under the program: A. the likelihood of repayment of the loan funds, as determined by standard underwriting procedures of the agency; B. the ability of the applicant to proceed expeditiously with the project; C. the cost and quality of the proposed housing; D. the extent to which the proposed project meets the housing needs of the community; E. the extent to which the project will build the organization's capacity to provide housing and housing related services; and F. the geographic distribution of loan funds, to the extent that loan funds can be used to assist projects throughout the state.