(A) Applications shall be evaluated solely for the purpose of determining whether or not the development for which the application is submitted is eligible for allocation of the credit. In making an evaluation consideration shall be given to whether or not the application submitted by the applicant and the review of the application conducted by OHFA comply with the provisions and requirements of the OHFA Regulations, § 42 of the Internal Revenue Code of 1986, and all other federal, state and local laws, ordinances and regulations pertinent to the development for which the application has been submitted to OHFA or to the application for and allocation of the credit.
(B) The evaluation may consist of, but not be limited to, determination of whether or not:
(1) The application meets the minimum standards set forth in § 330:36-5-2 of the OHFA Regulations; and
(2) The applicant and OHFA have complied with the notice requirements set forth in § 330:36-5-3.1 of the OHFA Regulations; and
(3) The sponsor characteristics, developer eligibility restrictions, the concentration limitations, and the other requirements set forth in § 330:36-5-4.1 and § 330:36-5-12 of the OHFA Regulations have been met; and
(4) The application threshold requirements set forth in § 330:36-5-5.1 of the OHFA Regulations have been met; and
(5) The application justifies the minimum ranking points required in accordance with the selection criteria set forth in § 330:36-5-6.1 of the OHFA Regulations and, if the application has not been ranked by OHFA, determination of the appropriate ranking points in accordance with the selection criteria set forth in § 330:36-5-6.1 of the OHFA Regulations; and
(6) The development with regard to which the application is submitted to OHFA is economically feasible or viable, and whether or not the allocation for which the application is submitted is limited to an amount necessary for the financial feasibility and viability of the development, as set forth in § 330:36-5-7.1 of the OHFA Regulations.
(Ord. 96-22, passed 7-15-96)