Section 7810 - Eligibility of Sponsors(a) At the time of application for assistance for a proposed rental housing development, the applicant shall certify to the Department that the sponsor of the proposed rental housing development has or will have the capability to construct, or own and manage, such development in accordance with the criteria set out in subdivision (b).(b) In determining the capability of a sponsor under this section, the Department and Agency or applicant shall take into account at least the following criteria: (1) administrative capability,(2) the sponsor's previous experience in design, construction and management of multi-family rental housing or the experience in such design, construction and management of staff or consultants employed or to be employed by the sponsor, taking into account the size and complexity of the proposed development,(3) financial capability, and(4) the possession of sufficient assets or credit to provide adequately for the predevelopment costs of the proposed rental housing development, and contingent expenses.Cal. Code Regs. Tit. 25, § 7810
Note: Authority cited: Section 50732, Health and Safety Code. Reference: Section 50745, Health and Safety Code.