Applicants wishing to apply for a housing assistance grant, including the use of any affordable housing funds, or to participate in any affordable housing program are required to submit to the city the following (as applicable):
(A) One original application, together with all required schedules, documents or such other information which may be required by the city or in any RFP which may have been issued by the city;
(B) A proposal describing the nature and scope of the affordable housing project proposed by the applicant and for which the applicant is applying for funds or a grant under the Act, and which documents the need for the requested funds or grant, describes the type and/or amount of assistance which the applicant proposes to provide to persons of low- or moderate-income and documents the consistency of the proposal with the city’s Affordable Housing Plan;
(C) Executive summary and project narrative(s) that address the evaluation criteria set forth in any RFP issued by the city for the affordable housing funds or the housing assistance grant for which the applicant is applying;
(D) A proposed budget for the affordable housing project for which the applicant is applying for affordable housing funds or for a housing assistance grant;
(E) Current independent financial audit;
(F) If the applicant is a non-profit organization:
(1) Proof of 501(c)(3) tax status; and
(2) Documentation that confirms that no part of its net earnings inures to the benefit of any member, founder, contributor or individual.
(G) If an applicant is a legal entity, including a non-profit organization:
(1) A current annual budget for the applicant, including all sources and uses of funds, not just those related to relevant programs and/or a current annual budget only for the program for which the applicant is applying for a housing assistance grant, or as otherwise may be required by the city and/or the MFA in its discretion;
(2) An approved mission statement that the applicant has, among its purposes, significant activities related to providing housing or housing-related services to persons or households of low- or moderate-income;
(3) A list of members of the applicant’s current board of directors or other governing body, including designated homeless participation, where required by the city;
(4) Evidence (or a certification as may be allowed by the city) that the applicant has 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;
(5) Evidence that the applicant has no significant outstanding or unresolved monitoring findings from the city, the MFA or its most recent independent financial audit; or if it has any significant outstanding or unresolved monitoring findings from the city, the MFA or its most recent independent financial audit, it has a certified letter from the city, the MFA or the auditor stating that the findings are in the process of being resolved;
(6) An organizational chart, including job titles and qualifications for the applicant’s employees or as otherwise may be required by the city and/or the MFA in its discretion. Job descriptions may be submitted as appropriate; and
(7) Documentation that the applicant is duly organized under state or local law and certification that the applicant is in good standing with any state authorities, including the Public Regulation Commission and the Secretary of State.
(H) Information as may be required by the city in order for it to determine the financial and management stability of the applicant;
(I) Information as may be required by the city in order for it to determine the demonstrated commitment of the applicant to the community;
(J) A completed cost-benefit analysis of the affordable housing project proposed by the applicant. Any cost-benefit analysis must include documentation that clearly evidences that there is a need for the housing assistance grant being requested from the city, that there is or will be a direct benefit from the project proposed by the applicant to the community and/or to the purported beneficiaries of the project, consistent with the provisions of the Act, and that the affordable housing project will meet the needs and affordability criteria defined in the city’s Affordable Housing Plan;
(K) Information supporting the benefits to the community of the affordable housing project proposed by the applicant;
(L) Proof of substantive or matching funds or contributions and/or in-kind donations to the proposed affordable housing project in connection with the application for funds under the Act. Nothing contained herein shall prevent or preclude an applicant from matching or using local, private or federal funds in connection with a specific housing assistance grant or a grant of affordable housing funds under the Act;
(M) Any certifications or other proof which the city may require in order for the city to confirm that the applicant is in compliance with all applicable federal, state and local laws, rules and ordinances;
(N) A verification signed by the applicant before a notary public that the information provided, upon penalty of perjury, is true and correct to the best of the applicant’s information, knowledge and belief;
(O) Certifications as may be required by the city and signed by the chief executive officer, board president or another authorized official of the applicant; and
(P) The applicant shall submit adequate information, as required by the city and/or MFA, of the affordable housing project proposed by the applicant. The information provided must clearly evidence the need for the subsidy, that the value of the housing assistance grant reduces the housing costs to persons of low- or moderate-income, and that there will be a direct benefit from the project proposed by the applicant to the community, and/or to the purported beneficiaries of the project, consistent with the provisions of the Act.
(Ord. 2023-002, passed 8-16-2023)