Section 8014 - Review and Rating of Projects(a) The department shall rate applications and award funds based upon the following criteria: (1) the extent to which the project achieves the goal of limiting housing costs for low-income residents to 30% of gross monthly income;(2) the extent to which there will be no involuntary displacement from the project;(3) the extent to which the project is prepared to convert based upon the speed and ease with which the project can be completed once funds are awarded;(4) the capacity of the borrower, loan originator, consultants and other parties to complete the project and fulfill the requirements established for the program by this subchapter;(5) the extent to which the proposed ownership structure provides long-term security of tenure.(6) the extent to which the project complements local programs or plans to preserve or increase the supply of low and moderate income housing and mobilehome park spaces;(7) the degree of support provided to the project by the residents, local government and other parties;(8) the financial feasibility of the whole project, including the rents from all residents and their relationship to reasonable market rents, the total cost of conversion and operation, and other factors which relate to the security of the department's loans;(9) the extent to which program funds will be used in the most efficient manner to assist the maximum number of low-income residents;(10) the extent to which the project has the lowest possible costs given program requirements and local market conditions;(11) the extent to which the project will receive below market financing and other assistance, including the value of administrative functions provided by a local public entity pursuant to Section 8018(c). The department shall take into account the resources which are available to the local public entity when considering this factor;(12) the allocation of funds throughout the State pursuant to Section 50785 of the Code; and(13) the awarding of additional points for applications from resident owned parks.(b) In the event that eligible applications are received requesting more funds than are available for award, the department will rank applications according to scores received pursuant to paragraph (a) of this section.(c) In each request for proposals, the department shall allocate no less than 20% of the funds available for this program to rural areas. In the event that there is an inadequate number of rural project applications that are feasible based on the factors in subsection (a), the department may make additional awards to non-rural projects.Cal. Code Regs. Tit. 25, § 8014
1. Amendment of subsections (a)(4)-(a)(5) and (a)(11)-(a)(12) and new subsection (a)(13) filed 5-11-2001; operative 5-11-2001 pursuant to Government Code section 11343.4 (Register 2001, No. 19).
2. Amendment of section heading and subsection (a), new subsection (b) and subsection relettering filed 7-11-2005; operative 8-10-2005 (Register 2005, No. 28). Note: Authority cited: Sections 50406 (n) and 50786 (a), Health and Safety Code. Reference: Sections 50406, 50406.2, 50780, 50785 and 50786, Health and Safety Code.
1. Amendment of subsections (a)(4)-(a)(5) and (a)(11)-(a)(12) and new subsection (a)(13) filed 5-11-2001; operative 5-11-2001 pursuant to Government Code section 11343.4 (Register 2001, No. 19).
2. Amendment of section heading and subsection (a), new subsection (b) and subsection relettering filed 7-11-2005; operative 8-10-2005 (Register 2005, No. 28).