(1) Applications for tax credits shall be prepared in conformance with the criteria contained in the QAP.

(2) Applications shall be submitted to the board for the first and second rounds of allocations on the dates specified in the QAP.

(3) Following submittal of all applications for allocation of tax credits for each calendar year, board staff will evaluate each project for conformance with the criteria in the QAP, using the point system provided for therein. The points awarded to each project are for the purpose of establishing that the projects meet the criteria set forth in the QAP, and not for purposes of ranking projects for allocation of tax credits. Following their evaluation, board staff will provide recommendations to the board for allocation of tax credits to qualifying projects.

(4) Copies of all applications submitted to the board are available to other applicants for tax credit projects and members of the public under the provisions contained in the QAP.

(5) At its regularly scheduled board meeting in the month of April or May of each year, the board will hold a hearing to consider the allocation of tax credits to those projects the applications for which meet the minimum criteria of the QAP. The hearing is not a contested case hearing under Title 2, chapter 4, part 6, MCA.

(6) All applicants for projects meeting the minimum criteria in the QAP will be given the opportunity at the hearing to further explain the benefits of and the need for their respective project.

(7) The awarding of points to projects pursuant to the QAP is for the purpose of determining that the projects meet the requirements of the QAP and to provide guidance to the board, but do not control the allocation of tax credits. The board will allocate tax credits to the projects that it determines best meet the needs of low income people within the state of Montana regardless of the score awarded to each of the several projects or staff recommendations. The board may consider the following factors in allocating tax credits to qualifying projects:

(a) the geographical distribution of tax credit projects;

(b) the rural or urban location of the qualifying projects;

(c) the overall income levels targeted by the projects;

(d) rehabilitation of existing low income housing stock;

(e) sustainable energy savings initiatives;

(f) financial and operational ability of the applicant to fund, complete, and maintain the project through the extended use period;

(g) past performance of an applicant in initiating and completing tax credit projects; and

(h) cost of construction, land, and utilities.