California Code of Regulations
Title 25 - Housing and Community Development
Division 1 - Housing and Community Development
Chapter 7 - Department of Housing and Community Development Programs
Subchapter 10 - Rental Housing Construction Program
Article 2 - Program Requirements
Section 7810 - Eligibility of Sponsors
Universal Citation: 25 CA Code of Regs 7810
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) At the time of application for assistance for a proposed rental housing development, the applicant shall certify to the Department that the sponsor of the proposed rental housing development has or will have the capability to construct, or own and manage, such development in accordance with the criteria set out in subdivision (b).
(b) In determining the capability of a sponsor under this section, the Department and Agency or applicant shall take into account at least the following criteria:
(1) administrative capability,
(2) the sponsor's previous experience in design, construction and management of multi-family rental housing or the experience in such design, construction and management of staff or consultants employed or to be employed by the sponsor, taking into account the size and complexity of the proposed development,
(3) financial capability, and
(4) the possession of sufficient assets or credit to provide adequately for the predevelopment costs of the proposed rental housing development, and contingent expenses.
Note: Authority cited: Section 50732, Health and Safety Code. Reference: Section 50745, Health and Safety Code.
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