Section 360.106  Standards − Criteria

In administering the Program, the Authority and the Staff shall, in the exercise of discretion, consider, in addition to the criteria specifically set forth in this Part;

a)         the purposes of the Program to provide affordable, decent, safe and sanitary housing, whether through the making of a Loan, a Grant or the use of Trust Fund Monies pursuant to Sections 8(b), (c), (d) and 9 of the Act;

b)         the requirements of applicable State and Federal law;

c)         the financial condition and previous experience of the Applicant;

d)         local government and community support for the Development or Single-Family Development;

e)         suitability of the location of the Development or Single-Family Development;

f)         cost efficiency;

g)         energy efficiency;

h)         affordability to Low-Income Households and Very Low-Income Households;

i)          amount of Trust Fund Monies requested per unit;

j)          term of the Loan and other sources of financing;

k)         secured position of the Loan;

l)          equity contribution of Applicant;

m)        amount and appropriateness of non-construction costs; and

n)         results of site and market study, or rental analysis, if applicable.

(Source:  Amended at 18 Ill. Reg. 8663, effective May 25, 1994)