The following requirements shall apply to all housing assistance grants and/or affordable housing funds awarded, loaned or otherwise distributed by the city to a qualifying grantee under the article.
(A) Procurement. The city, in its discretion, shall procure services according to its Rules and Regulations or shall otherwise identify a qualifying grantee for the use of any affordable housing funds or housing assistance grants to be awarded, loaned, donated or otherwise distributed under the Act.
(B) Applicant eligibility. The following applicants are eligible under the Act to apply for affordable housing fund or a housing assistance grant to provide housing or related services to persons of low or moderate income in the community.
(1) All individuals who are qualified to receive assistance pursuant to this article, the Administrative Requirements and the Rules and Regulations;
(2) An individual, regional or public housing authority, a for-profit organization, including a corporation, limited liability company, partnership, joint venture, syndicate or association, or a nonprofit organization meeting the appropriate criteria of the city.
(a) Have a functioning accounting system that is operated in accordance with generally accepted accounting principles or has a designated entity that will maintain such an accounting system consistent with generally accepted accounting principles; and
(b) Have among its purposes significant activities related to providing housing or services to persons or households of low or moderate income; and
(c) Have no significant outstanding or unresolved monitoring finding from the city, or its most recent independent financial audit, or if it has any such findings, it has a certified letter from the city, the MFA, or auditor stating that the findings are in the process of being resolved; and
(d) The names of all qualifying grantees, certified or recertified, shall be submitted annually to MFA for review and approval.
(C) Application. All applicants wishing to apply for a housing assistance grant or an award of affordable housing funds shall follow the city's application process, as more specifically set forth in Chapter 6 of the Rules and Regulations.
(D) Additional requirements. The selected qualifying grantee shall enter into one or more contracts with the city, which contract(s) shall be consistent with and further the purposes of this article. At a minimum, such contracts shall comply with the terms set forth in Chapter 8 of the Rules and Regulations.
(E) The affordable housing plan is the consolidated planning and needs assessment as it occurs every five years that serves as the comprehensive housing affordability strategy and community development plan in compliance with HUD regulations at 24 CFR Part 91,The Affordable Housing Act and Rules and this article. All housing assistance grants or awards of affordable housing funds shall be in compliance with the Affordable Housing Act and Rules.
(F) Affordable housing requirements. All affordable housing funds or housing assistance grants awarded under the Act shall be used by qualifying grantees for the benefit of persons of low or moderate income subject to the provisions of this article, and with particular regard to their housing related needs.
(1) Single family property. Qualifying grantees shall agree that they shall maintain any single-family property which has been acquired, rehabilitated, converted, leased, repaired, constructed, or which property has otherwise benefited from affordable housing fund, including but not limited to any loans which have been repaid with affordable housing funds and which loans previously were secured by such properties, as affordable housing for so long as any or all of the affordable housing funds which have been awarded, loaned, or otherwise conveyed to the qualifying grantee are unpaid and outstanding, or the affordability period, whichever is longer.
(2) Single apartment within a multi-family property. Qualifying grantees shall agree that, if any single apartments are to be rehabilitated, converted, leased, repaired, constructed, or otherwise are to benefit from the affordable housing fund, those apartments shall be leased to persons of low or moderate income at the time of any such award. Qualifying grantees also shall agree that the persons of low or moderate income who are tenants of those apartments shall be allowed to remain tenants for so long as there are no incurred defaults by those tenants under their respective leases and provided that there is no just cause for the landlord to terminate any lease agreement with those tenants.
(3) Multi-family property; multiple apartments. Qualifying grantees shall agree that, if multiple apartments or an entire multi-family property are to be acquired, rehabilitated, converted, leased, repaired, constructed, or otherwise are to benefit from affordable housing funds, including but not limited to any loans which have been repaid with affordable housing funds and which loans previously were secured by such properties, such properties shall be maintained as affordable housing for so long as any or all of the affordable housing funds which have been awarded, loaned or otherwise conveyed to the qualifying grantee are unpaid and outstanding, of the affordability period, whichever is longer. Qualifying grantees also shall agree that the persons of low or moderate income who are tenants of those apartments shall be allowed to remain tenants for so long as there are no incurred defaults by those tenants under their respective leases and provided that there is no just cause for the landlord to terminate any lease agreement with those tenants.
(4) Nonresidential property. Qualifying grantees shall agree that they shall maintain any non-residential property which has been acquired, rehabilitated, converted, leased, repaired, constructed, or which property has otherwise benefited from affordable housing funds, including but not limited to any loans which have been repaid with affordable housing funds and which loans previously were secured by such properties, as the facility which provides housing related services to persons of low to moderate income for so long as any or all of the affordable housing funds which have been awarded, loaned, or otherwise conveyed to the qualifying grantee are unpaid and outstanding of the affordability period, whichever is longer.
(5) Housing assistance grant affordability requirements. Qualifying grantees shall agree that they shall maintain any land or building received as a housing assistance grant either as a single-family or multi-family affordable housing or as a facility which provides housing related services to persons of low or moderate income for the duration of the affordability period. In calculating the affordability period for housing assistance grants of either land or buildings, the fair market value of the land or buildings or the costs of infrastructure at the time of the donation by the state or the city shall apply.
(6) Affordability period. The city, in its discretion, may increase the affordability period in any contract, note, mortgage, loan agreement, land use restriction agreement, restrictive covenant agreements, and/or any other agreement which the city may enter into with any qualifying grantee or beneficiary of the affordable housing funds or of the housing assistance grant with the Affordable Housing Act and Rules.
(G) Consent to jurisdiction. Each qualifying grantee shall consent to the jurisdiction of the courts of the State of New Mexico over any proceeding to enforce compliance with the terms of the Act, the Rules and this article and any agreement between the qualifying grantee and the city.
(H) Recertification procedures.
(1) The qualifying grantee must meet the requirements of the Act, the Rules and this article both at the time of any award and throughout the term of any grant and contract related thereto.
(2) The city may establish procedures for recertifying qualifying grantees from time to time compliance with the Affordable Housing Act and Rules.
(3) Qualifying grantees that fail to satisfy the requirements for recertification shall cease to be eligible and shall be denied further participation in affordable housing programs until the requirements of the city and the MFA are satisfied.
(4) Compliance with the law. The qualifying grantee shall provide the city with any certifications or other proof that it may require in order for the city and the MFA to confirm that the qualifying grantee and the qualifying grantee's proposed project are in compliance with all applicable federal, state and local laws, rules and ordinances.
(I) Extension of affordable housing programs. The city shall have the power to create variations or extensions of affordable housing programs, or additional programs that comply with the Affordable Housing Act and the Rules.