Approval and Reservation Process

PURPOSE: This rule establishes procedures and identifies requirements for application approval or disapproval and reservation of Affordable Housing Assistance Program (AHAP) tax credits. (1) Approval or disapproval of the application to receive Affordable Housing Assistance Program (AHAP) tax credits will be given in writing by the commission staff. (2) Factors to be considered in the approval or disapproval of an application to provide affordable housing units through the use, new construction, rehabilitation, or donation of units shall include, but shall not be limited to, the following: (A) Qualification of the applicant as an eligible agency; (B) Feasibility of the project; (C) Need; (D) Leverage; (E) Community support; and (F) Eligibility of the donor and the donations. (3) Factors to be considered in the approval or disapproval of an application to provide affordable housing units to eligible occupants by an eligible agency through a housing rent subsidy program approved by the commission staff shall include, but shall not be limited to, those items listed in section (2) of this rule, as well as consideration of the tenant population to be served and the general rent structure proposed. (4) Factors to be considered in the approval or disapproval of an application to provide general operating assistance to an eligible agency as approved by the commission staff shall include, but shall not be limited to, assessment of submitted expenses for qualification as eligible expenses and the need to use AHAP tax credits to meet those eligible expenses. AUTHORITY: sections 32.111, 32.112, and 215.030(5), (12), and (19), RSMo 2000.* Original rule filed May 24, 2010, effective Jan. 30, 2011. *Original authority: 32.111, RSMo 1990, amended 1993, 1996, 1998, 1999; 32.112, RSMo 1996, amended 1999; and 215.030, RSMo 1969, amended 1974, 1982, 1985, 1989, 1993, 1995, 1998.