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C11~ SELECTION CRITERIA <br />HOME RENTAL REHABILITATION PROGRAM <br />Factors and Award/Evaluation Criteria <br />~ Buildings in jeopardy of conversion to market rate or losing its subsidy 20 points <br />~ Long-term affordability requirement of housing units 20 points <br />- Minimum of 10 years of affordability <br />- Rural Development, Tax Credit, Non Profit <br />~ Community Housing Need 10 points <br />- Housing study identifying need <br />- Economic Growth <br />- Rehabilitation project being implemented <br />~ Number of units in development (more is better) 20 points <br />- 8-15 units 10 points <br />- 16-24 units 15 points <br />- 25 + units 20 points <br />~ Number of bedrooms per unit (2 or more) 10 points <br />- 1 point per two + bedrooms units (max. 10 points) <br />~ Cash Flow Analysis 10 points <br />- Vacancy Rates under 5% <br />- Cash match available <br />~ Owner has 25% Match as leverage 10 points <br />- 1 point per percentage (max. 10 points) <br />~ Existing condition of property 10 points <br />- $3,000-$8,999/unit - 5 points <br />- $9,000-$14,000Junit - i0 points <br />~ 5 Bonus Points (Each) <br />- Project in counties not previously awarded funding for the past two years <br />- Projects that applied the previous year. <br />Automatic Denial: <br />Owners currently out of compliance with HOME or are delinquent with real estate taxes will <br />be automatically denied. <br />