APPLICANT ELIGIBILITY

To be eligible for selection as a recipient of a grant under the program, an applicant must satisfy the following requirements: A. The applicant must be a nonprofit entity as defined in part 4900.0010 , subpart 21, and must have as its primary purpose assisting elderly persons in obtaining and maintaining affordable housing. B. The applicant may not be a part of or affiliated with a lender or a vendor of home equity conversion loans or products. C. The applicant must provide an application in a form prescribed by the agency that will document the applicant's ability to establish or maintain a home equity conversion counseling program for the period of time specified by the agency. At a minimum, this application shall include: (1) documentation that the applicant meets the eligibility requirements prescribed in items A and B; (2) a description of the applicant's organization that demonstrates that the applicant: (a) is knowledgeable about home equity conversion, including reverse mortgage programs; (b) has experience in counseling older persons on housing, including knowledge of alternative living arrangements for older persons; and (c) has knowledge of existing public benefit programs and other appropriate financial and legal resources for older persons; (3) a detailed description of how the proposed program would be administered, including qualifications of staff and proposed means of record keeping; (4) a detailed budget for the specified period showing all sources and uses of funds, including grant funds; and (5) a description of the means that the applicant plans to use to provide outreach and counseling on a statewide basis.