Idaho Code 67-8105 – Notice of Grant and Loan Application Period — Priorities — Criteria for Evaluation
Current as of: 2023 | Check for updates
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(1) During each calendar year in which funds are available for use by the association from the housing trust fund, the association shall announce to all known interested parties and through major media in each of the seven (7) planning regions of the state, the grant and loan application period specified in the current allocation plan of the advisory commission in the manner specified in the allocation plan.
(2) The association shall give preference for applications based on the following criteria or other criteria:
(a) The degree funds will be used to match other funds;
(b) Recipient contributions to total project costs and contributions from other sources such as professional, craft and trade services, as well as lender interest rate subsidies;
(c) Local government project contributions in the form of infrastructure improvements, fee waivers and others;
(d) Projects that encourage ownership, management, and other project-related responsibility opportunities for tenants;
(e) Projects that demonstrate a strong probability of serving the original target group or income level for a period of at least forty (40) years;
(f) The demonstrated ability, stability and resources to implement the project;
(g) Projects which demonstrate serving the greatest need;
(h) Projects that provide housing for persons and families with the lowest incomes; and
(i) Projects to be owned by nonprofit organizations.
Terms Used In Idaho Code 67-8105
- Advisory commission: means the housing trust fund advisory commission established in section 67-8106, Idaho Code. See Idaho Code 67-8102
- Allocation plan: means the plan, approved and revised annually by the advisory commission, providing for the method and priorities of allocation of housing trust fund moneys and providing the procedures for loan and grant application for housing trust fund moneys. See Idaho Code 67-8102
- Association: means the Idaho housing and finance association. See Idaho Code 67-8102
- Housing trust fund: means the moneys transmitted to the association by state, federal, local or private sources, and so designated for such purpose. See Idaho Code 67-8102
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114