Agenda - Council Work Session - 03/13/2012

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Proposed projects that do not appear marketable and do not modify their proposal will not receive further consideration in the current funding round. E. Design Review The proposed owner and architect must certify compliance with all the required development features outlined in the 2012 Housing Tax Credit Design Standards before the project will be scored and ranked. Minnesota Housing will review project costs based on comparability and reasonableness. Minnesota Housing may, as its sole discretion, reject applications that appear to have excessive project costs. (Also refer to Chapter 5.A Project Cost Reasonableness and 5.F Property Standard). F. Development Team Review Minnesota Housing will also consider the following factors when evaluating an application for a tax credit allocation. 1. The ability and capacity of the development team to proceed expeditiously to complete the proposed development. 2. The prior record of the development team in meeting Minnesota Housing and IRS reporting requirements. 3. The experience of the development team in developing and managing similar residential housing. Proposed projects from applicants that do not appear to have the experience, capacity or ability will not receive further consideration in the current funding cycle. G. Site Review Minnesota Housing staff will conduct a site inspection for each project passing all the project selection requirements described in parts A through F of this Chapter for consistency with the principles of sound, affordable housing development. Site inspections will be conducted to analyze physical characteristics, surrounding property and community, location of schools, shopping, public transportation, employment centers, community and housing service facilities, availability of utilities, water and sewage treatment facilities, and the suitability of the site for the proposed housing. For purposes of Minnesota Housing's investment in affordable housing, the principles are as follows: • Linkage: Housing development should be part of a comprehensive community development effort that links housing, jobs, transportation, recreation, retail services, schools, social and other services. • Jobs: Housing is part of the infrastructure necessary to sustain economic vitality. New housing should be located near jobs and in areas of job growth and should address housing needs of the local work force. Preference will be given to proposals that provide housing in communities with job and household population growth. • Land Use: Housing must be developed to maximize the adaptive reuse of existing residential rental buildings and the use of existing infrastructure, where financially feasible. In cases of new development, housing that maximizes the efficient use of land and infrastructure and minimizes the loss of agricultural and green space. • Transportation: Housing must be developed near regional and interregional transportation corridors and transit ways. Minnesota Housing will consider, but is not limited to, the following environmental criteria when evaluating a proposed site. 1. Noise 2. Flood plains and wetlands 3. Site safety 4. Toxic and hazardous waste 2012 Housing Tax Credit Procedural Manual 130