Section 7155 - Application RequirementsApplication for Program Funds shall be made in a format provided by the Department. The Department shall request, as a minimum, the following information:
(a) Applicant identification information including: name, address, telephone number, contact person and, for nonprofit corporations, corporate governing documents and financial information (e.g., articles of incorporation and by-laws, certificate of good standing, confirmation of 501(c)(3) status, audited financial statements), identification of the administering entity, and list of legislative representatives for the area where the program or project will be undertaken.(b) Governing board resolution which legally authorizes the application.(c) Description of the Local Housing Trust Fund sufficient to ensure compliance with Health and Safety Code Section 50843.5 and this subchapter which at a minimum shall include: (1) Documentation of establishment.(2) Date of establishment.(3) Date first funding received.(4) Ongoing Revenue sources (distinguishing residential and non-residential Local Impact Fees).(5) Documentation of Matching Funds On Deposit.(6) Documentation of sufficient Ongoing Revenues.(7) Documentation of the amount and source of Matching Funds and evidence that Matching Funds are derived from sources that are not restricted to housing uses.(d) Local Housing Trust Fund operating guidelines including:(1) Types of projects in which the fund will invest.(2) Types of investments the fund will make (e.g., loans, grants).(3) The required terms and conditions of the investment, including types of security and regulatory agreements, and periods of affordability.(4) Any per unit or per project expenditure limitations.(5) The eligible household income limitations and/or income targeting goals.(6) The developer or owner eligibility requirements.(7) Underwriting requirements.(8) The borrower or project match requirements.(9) Geographic area to be served.(e) Amount of Program Funds applied for and the amount to be used for: First-time Homebuyer downpayment assistance; housing for persons or households of Extremely Low Income, Very Low Income; Lower Income Households and housing for Moderate Income Persons and Families.(f) Description of the management and staffing of the Local Housing Trust Fund.(g) If the applicant proposes to use Program Funds for rental housing projects, a copy of the document to be recorded restricting the affordability of Program-funded projects for at least 55 years.(h) If the applicant proposes to use Program Funds for Homeownership Projects, a copy of the document to be recorded that meets the requirements of subdivision (d)(3) of Health and Safety Code Section 50843.5 or a specific statement as to the other public funding source or law in conflict with this requirement.(i) Certifications and Acknowledgements: (1) Certification that the information submitted in the application is true and correct to the best of the knowledge of the signer, after reasonably diligent investigation.(2) Certification of the applicant's intent to maintain the Local Housing Trust Fund in existence for at least five (5) years from the date of application; and acknowledgement and agreement that if the Local Housing Trust Fund ceases to exist sooner, then the applicant agrees to repay any remaining uncommitted Program Funds and to remit to the Department all repayment of loans made with Program Funds until the full amount of the Program grant is repaid.(3) Acknowledgement and agreement that any Program Funds that are not encumbered within 36 months of receipt shall be returned to the Department.(4) For nonprofit applicants, an acknowledgement and agreement that Program Funds shall be used only for projects located in a city, county, or city and county that have, at the time of application, an adopted housing element that the Department has determined to be in substantial compliance with State housing element law.(5) Certification that the applicant has held, or agrees to hold, at least one public hearing to discuss and describe the Eligible Project or Projects that will be financed with Program Funds.(6) For nonprofit applicants, an agreement that the applicant will hold at least one public meeting as required by subdivision (g) of Health and Safety Code section 50843.5.Cal. Code Regs. Tit. 25, § 7155
1. New section filed 12-5-2008; operative 12-5-2008 pursuant to Government Code section 11343.4 (Register 2008, No. 49). Note: Authority cited: Section 50406(n), Health and Safety Code. Reference: Sections 50843.5 and 53545.9(c), Health and Safety Code.
1. New section filed 12-5-2008; operative 12-5-2008 pursuant to Government Code section 11343.4 (Register 2008, No. 49).