Criteria for Guarantees
(1)The Department has no obligation to issue any loan and/or lease guarantee in response to any loan and/or lease guarantee request made pursuant to this division.
(2)In evaluating whether or not to provide a loan and/or lease guarantee, or the amount of any such guarantee, the Department may consider factors including, but not limited to the following:
(a)The responsiveness and accuracy of the request;
(b)The need of the project for the guarantee;
(c)The availability of other credit enhancement vehicles;
(d)The credit worthiness of the project;
(e)The experience and ability of the project sponsor;
(f)The experience and ability of the lender and/or leasing company;
(g)The location and need for the project;
(h)The availability of Department funds and guarantee authority;
(i)The Department’s experience with and/or the reputation of the lender, leasing company and/or sponsor, including without limitation, any of their agents, representatives, employees or contractors;
(j)The amount, quality, and duration of suitable lower income housing to be provided or enabled by the project;
(k)The mix of low and very-low income housing to be provided or enabled; and
(l)Any other information obtained by or made available to the Department.
(3)The Department may give a preference for a loan and/or lease guarantee based upon factors including, but not limited those described in subparagraph (2) and to the following:
(a)Providing the greatest number of suitable housing units constructed, acquired, developed or rehabilitated for the least amount of guarantee, granted or committed;
(b)The longest possible use for the units as lower income housing units;
(c)Providing suitable housing for a seasonal work force, where a critical need for housing such a work force exists; and
(d)Providing suitable housing for specific populations, which have historically faced barriers in finding housing, and which are identified as having a priority in the Consolidated Plan or its successor or in a state-acknowledged initiative;
(4)In evaluating housing projects that serve a predominantly non-English speaking population, the Department may give subordinate preference to projects which mitigate the language barrier impact in the provision of supportive services.
Rule 813-350-0050 — Criteria for Guarantees,