ARM 8.111.507. CRITERIA FOR APPROVAL OF HMF OR MHT-HMF LOAN

(1) The board will review the following criteria when considering an application for a HMF or MHT-HMF loan: (a) the applicant's experience in managing or developing housing for low and/or moderate income households; (b) the percentage of the units in the project that will be available for low and/or moderate income households; (c) the need for low and moderate income housing in the community where the project is located; (d) the priority of the board's proposed lien for the HMF or MHT-HMF loan in relation to the amount of the HMF or MHT-HMF loan; and (e) the priority of the liens and the amount of the loans of the other lenders on the project.