9-4-707 - Application process and priorities. - Utah Statutes

9-4-707. Application process and priorities.
(1) (a) In each calendar year that moneys are available from the fund for distribution bythe executive director under the direction of the board, the director shall, at least once in thatyear, announce a grant and loan application period by sending notice to interested persons.
(b) The executive director shall accept applications which are received in a timelymanner.
(2) The executive director shall give first priority to applications for projects andactivities that use existing privately-owned housing stock, including privately owned housingstock purchased by nonprofit public development authorities.
(3) Preference shall be given to applications that demonstrate the following:
(a) a high degree of leverage with other sources of financing;
(b) high recipient contributions to total project costs, including allied contributions fromother sources such as professional, craft and trade services, and lender interest rate subsidies;
(c) high local government project contributions in the form of infrastructureimprovements, or other assistance;
(d) projects that encourage ownership, management, and other project-relatedresponsibility opportunities;
(e) projects that demonstrate a strong probability of serving the original target group orincome level for a period of at least 15 years;
(f) projects where the applicant has demonstrated the ability, stability, and resources tocomplete the project;
(g) projects that appear to serve the greatest need;
(h) projects that provide housing for persons and families with the lowest income;
(i) projects that promote economic development benefits;
(j) projects that allow integration into a local government housing plan; and
(k) projects that would mitigate or correct existing health, safety, or welfare problems.
(4) Consideration may be given to projects that increase the supply of accessible housing.

Amended by Chapter 95, 2003 General Session