Sheet1
Requirements - Activities |
Rental |
Ownership |
|||
Evidence of Rental Management Experience |
X |
||||
Developer Experience and Capacity |
X |
X |
|||
Property must be abandoned or foreclosed upon |
X |
X |
|||
Property must be purchased at a discount (less than 5-15% of |
X |
X |
|||
Rehabbed in accordance with rehab standards |
X |
X |
|||
Sale Price not to exceed cost to acquire/rehab |
X |
||||
Rent not to exceed HOME rents |
X |
||||
Evidence of Long-Term Affordability 5-15 years depending on |
X |
X |
|||
Financial Feasibility |
X |
X |
|||
Detailed Plan of Proposed Activities |
X |
X |
|||
Demonstrated Neighborhood Support |
X |
X |
|||
Maximum Points |
Testing Model | ||||
Priority Ranking - Activities |
Rental |
Ownership |
Rental |
Ownership | |
Leverage: Excluding First Mortgage Financing |
25 |
25 |
|||
Limited NSP Financing (Less than $25,000/Unit) |
10 |
10 |
|||
Creation of Affordable Housing (80% AMI) in less |
15 |
15 |
|||
Evidence of Long-Term Affordability |
15 |
15 |
|||
Treatment of Boarded and Vacant Property |
15 |
15 |
|||
Serving Households below 50% AMI |
50 |
50 |
|||
Evidence of Green/Sustainability Elements |
15 |
15 |
|||
Integration with broader City's revitalization efforts |
15 |
15 |
|||
Ratio of Soft Costs to Total Development Cost |
10 |
10 |
|||
Proximity to Transit, Jobs and Density |
15 |
15 |
|||
Coordination with local Contractors: Affirmative Marketing Plan |
25 |
25 |
|||
Marketing Plan (including Housing Victims of Foreclosure) |
50 |
50 |
|||
Evidence of Site Control |
5 |
5 |
|||
Ability to use funds within one-year |
15 |
15 |
|||
Maximum Points |
280 |
280 |
0 |
0 | |
Last updated Sep. 27, 2011