The board shall adopt rules to administer the housing trust fund, including rules providing:
(1) that the division give priority to programs that maximize federal resources;
(2) for a process to set priorities for use of the fund, including the distribution of fund resources in accordance with a plan that is developed and approved by the board and included in the department’s annual report regarding the housing trust fund as described in the General Appropriations Act;
(3) that the criteria used to evaluate a proposed activity will include the:
(A) leveraging of resources;
(B) cost-effectiveness of the proposed activity; and
(C) extent to which individuals and families of very low income are served by the proposed activity;
(4) that funds may not be made available for a proposed activity that permanently and involuntarily displaces individuals and families of low income;
(5) that the board attempt to allocate funds to achieve a broad geographical distribution with:
(A) special emphasis on equitably serving rural and nonmetropolitan areas; and
(B) consideration of the number and percentage of income-qualified families in different geographical areas; and
(6) that multifamily housing developed or rehabilitated through the fund remain affordable to income-qualified households for at least 20 years.