ELIGIBILITY

Subpart 1. Eligible applicants. Only a city may be an eligible applicant. Subp. 2. Eligible uses of financial assistance. A city may use the proceeds of the financial assistance for capital costs identified in the application. Subp. 3. Eligible applications. The application for financial assistance shall, at a minimum, contain: A. evidence that the applicant is an eligible applicant; B. a comprehensive plan for the use of the financial assistance, including: (1) documentation of the need for the type of proposed activity, including information on the extent to which persons and families of low and moderate income will benefit; (2) a detailed description of all other financial resources available to the applicant to complete the activity, including those from other public or private sources; and (3) a timetable for the completion of the proposed activity; C. documentation of the applicant's ability to complete and maintain the property in accordance with its funded use for the period of time identified in the application; D. documentation sufficient to establish that the cost and quality of the proposed activity is reasonable; E. evidence of the intended use of a ground lease which meets the requirements of Minnesota Statutes, section 462A.31 ; and F. if the applicant intends to contract with an eligible nonprofit organization to develop or manage the property, a copy of the contract and evidence of the nonprofit organization's abilities and capacities to fulfill program requirements.