SELECTION CRITERIA FOR LOANS

From time to time, the agency may request applications for financial assistance. The agency shall select applications for financial assistance based on the following criteria: A. the need for the type of housing which will be created by the eligible activities described in the application; B. the extent to which other resources are or will be allocated to address the stated need; C. the extent to which the land trust loan funds are combined with other funds from private or public sources; D. the geographic distribution of the applications, to the extent that funds can be used for land trust activities throughout the state; E. the extent to which persons or families of low and moderate income will benefit from the eligible activities; F. the extent to which displacement of residents will be minimized; G. the extent to which the eligible activities are more innovative than other proposals; H. the extent to which the application receives the support and participation of the local community; I. the reasonableness of the cost and quality of the eligible activities; J. the experience and capacity of the applicant to perform land trust activities and provide administrative support services for an extended period of time; and K. if applicable, the experience and capacity of the nonprofit organization to which the applicant proposes to either contract with or lease any part of the property.