§ 42-55-5-3

The corporation shall issue all letters of eligibility for low- and moderate-income housing for applications made pursuant to chapter 53 of title 45. (a) Evaluation of requests for letters of eligibility: (1) The corporation shall establish for each application: (i) The name and address of the applicant; (ii) The address of the site and site description; (iii) The number and type (homeownership or rental) of housing units proposed; (iv) The name of the housing program under which project eligibility is sought; (v) Relevant details of the particular project if not mandated by the housing program (including percentage of units for low- or moderate-income households, income eligibility standards, the duration of restrictions requiring low- or moderate-income housing); and (2) The corporation shall determine: (i) That the proposed project appears generally eligible under the requirements of the housing program, subject to final review of eligibility and to final approval; (ii) That the subsidizing agency, or the corporation, has performed an on-site inspection of the site and has reviewed pertinent information submitted by the applicant; (iii) That

to final approval; (ii) That the subsidizing agency, or the corporation, has performed an on-site inspection of the site and has reviewed pertinent information submitted by the applicant; (iii) That an initial pro forma has been reviewed and the project appears financially feasible on the basis of estimated development costs; (iv) That the developer meets the general eligibility standards of the housing program; and (v) That the applicant controls the site. (b) The corporation shall provide a copy of the letter of eligibility to the administrative officer of the local review board of the city or town in which the project would be located. (c) [Deleted by P.L. 2022, ch. 407, § 2 and P.L. 2022, ch. 408, § 2.] History of Section.P.L. 2004, ch. 286, § 3; P.L. 2004, ch. 324, § 3; P.L. 2022, ch. 407, § 2, effective June 30, 2022; P.L. 2022, ch. 408, § 2, effective June 30, 2022.