D.C. Mun. Regs. tit. 10, r. 10-B4504

Current through Register Vol. 71, No. 44, November 1, 2024

Rule 10-B4504 - REVIEW AND RANKING OF APPLICATIONS

4504.1

All applications which are determined complete and eligible for assistance in accordance with § 4503.1 shall be reviewed and ranked in accordance with the requirements of this section.

4504.2

Priority consideration shall be given to funding of properties which are vacant (either vacant buildings or vacant land) at the time of application for assistance to DHCD.

4504.3

DHCD shall give priority to proposals with higher ratios of private to public financing. It shall be DHCD's general policy for all applicants to use private financing to the maximum extent possible consistent with project feasibility. DHCD's underwriting of proposals shall be based on this policy.

4504.4

DHCD shall review and rank complete and eligible applications in accordance with the ranking and selection criteria, if any, established and disclosed, which may include, but shall not be limited to, the following:

(a) Project economic and market feasibility given its location, proposed costs, proposed rents and income and other related information;

(b) The applicant's development capability in relation to its development record, financial status and equity contribution to the project. An applicant who provides evidence, satisfactory to DHCD, that the applicant has successfully undertaken and completed a similar development on one or more previous occasions shall be deemed capable. Other demonstrations of capability include, but are not limited to, related training or experience by the applicant or members of the applicant's development team;

(c) The applicant's ability to secure the services of development team professionals (e.g., project architect(s), engineers, attorneys, financial consultants, general contractors, etc.) which have a requisite amount of experience in the type of development proposed by the applicant;

(d) The extent to which the project is designed to meet the District's housing needs, such as the need for higher percentages of two (2) or three (3) bedroom units;

(e) The quality of the project's site and architectural design, including consideration of energy efficiency;

(f) The amount of public financing required, and the amount of private financing leveraged by public financing;

(g) The location of the project in relation to District priorities for housing and community development activity; and

(h) The degree to which the project meets other District or DHCD objectives, such as the prevention of displacement and the elimination of slum or blighted conditions.

D.C. Mun. Regs. tit. 10, r. 10-B4504

Final Rulemaking published at 36 DCR 8507, 8516 (December 22, 1989)