SELECTION CRITERIA

The agency shall take the following criteria into consideration when determining whether an application and applicant will be selected for a loan under the program: A. the documented need for the residential housing in the proposed geographic area; B. the ability of the applicant to proceed expeditiously with the development; C. the applicant's prior experience in developing, owning, and operating residential housing; D. the cost and quality of the proposed housing; E. geographic distribution of loan funds, to the extent that loan funds can be used to assist projects throughout the state; F. the relationship of the proposed development to public facilities, sources of employment, and services, including public transportation, health, education, and recreation facilities; G. the appropriateness of the development for occupancy by individuals; and H. the extent to which the loan funds are combined with other sources of funding to make the development economically feasible and rents affordable for low-income individuals.