New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter XXXV - New York State Housing Finance Agency
Subchapter B - Affordable Home Ownership Development Program
Part 2165 - Evaluation Of Proposals
Section 2165.1 - Selection factors

Universal Citation: 21 NY Comp Codes Rules and Regs ยง 2165.1

Current through Register Vol. 46, No. 39, September 25, 2024

(a) A proposal may provide for the construction, rehabilitation or improvement of several structures or single structure(s) at several locations, including cooperatives and condominiums, based on the applicant's demonstration of need and how the proposed treatment will meet that need.

(b) The corporation will evaluate applications based on the following criteria which may be implemented through the application of program standards, revised from time-to-time, which will effect the requirements hereof, based on the corporation's estimation and projection of the pool of applications which will be received while funds are available:

(1) extent to which the proposal will serve a demonstrated need;

(2) extent to which the proposal will serve the lowest income households possible in the applicable area and the measures designed to assure continued affordability;

(3) leveraging of private and public investment (special weight will be given to applications maximizing private investment);

(4) contribution of the proposal to the improvement of the neighborhood or community;

(5) nondisplacement of low and moderate income residents of the neighborhood and community;

(6) timely project commencement and completion;

(7) utilization of innovative, cost-effective design techniques and building materials which reduce construction, rehabilitation or operating costs;

(8) comprehensiveness of administrative plan and evidence of applicant's capacity to effectively implement and manage the project(s) or program; and

(9) extent to which applicant has a record of successful past performance in the program and other similar activities.

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