Cal. Code Regs. Tit. 25, § 11101 - Qualification of Housing Sponsors for Rental Housing Developments to be Constructed

Before the agency may make or approve a commitment to any person for a construction or mortgage loan, the agency shall determine, taking into account the nature of the housing development and the person (whether a natural person or a public or private entity), that said person

(a) Is credit worthy,

(b) Is financially responsible,

(c) Is (if not a natural person) duly organized and qualified to do business in this state,

(d) Is capable of proceeding promptly to construct and complete the housing development,

(e) Has the ability to operate the housing development,

(f) Has a commitment to construct and operate the housing development in accordance with all applicable federal and state "Equal Opportunity," "Employment of Project Area Residents and Contractors" and "Affirmative Fair Housing Marketing" regulations.

Notes

Cal. Code Regs. Tit. 25, § 11101

1. Repealer of first paragraph and new NOTE filed 12-19-2005; operative 12-19-2005 pursuant to Government Code section 11343.4 (Register 2005, No. 51).

Note: Authority cited: Sections 50955, 51050(e) and 51101, Health and Safety Code. Reference: Sections 50051, 50094 and 50100, Health and Safety Code.

1. Repealer of first paragraph and newNote filed 12-19-2005; operative 12-19-2005 pursuant to Government Code section 11343.4 (Register 2005, No. 51).