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Rule Title: CRITERIA FOR APPROVAL OF HMF LOAN
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Department: COMMERCE
Chapter: BOARD OF HOUSING
Subchapter: Affordable Housing Revolving Loan Fund and TANF Housing Assistance Funds
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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8.111.507    CRITERIA FOR APPROVAL OF HMF LOAN

(1) The board will review the following criteria in considering an application for an HMF loan:

(a) the applicant's experience in managing or developing housing for low and/or moderate income households;

(b) the percentage of the units in the project that will be available for low and/or moderate income households;

(c) the need for low and moderate income housing in the community where the project is to be located; and

(d) the priority to be given the board's lien for the HMF loan in relation to the amount of the HMF loan and the priority given the liens and the amount of the loans of the other lenders on the project.

History: 90-6-136, MCA; IMP, 90-6-134, MCA; NEW, 2002 MAR p. 75, Eff. 1/18/02; AMD, 2008 MAR p. 40, Eff. 1/18/08.


 

 
MAR Notices Effective From Effective To History Notes
8-111-60 1/18/2008 Current History: 90-6-136, MCA; IMP, 90-6-134, MCA; NEW, 2002 MAR p. 75, Eff. 1/18/02; AMD, 2008 MAR p. 40, Eff. 1/18/08.
1/18/2002 1/18/2008 History: Sec. 90-6-136, MCA; IMP, Sec. 90-6-134, MCA; NEW, 2002 MAR p. 75, Eff. 1/18/02.
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