Minn. R. agency 148, ch. 4900, NEIGHBORHOOD LAND TRUST PROGRAM, pt. 4900.3432

Current through Register Vol. 49, No. 10, September 3, 2024

Part 4900.3432 - ELIGIBILITY

Subpart 1.Eligible applicants.

Only a city may be an eligible applicant.

Subp. 2.Eligible uses of financial assistance.

A city may use the proceeds of the financial assistance for capital costs identified in the application.

Subp. 3.Eligible applications.

The application for financial assistance shall, at a minimum, contain:

A. evidence that the applicant is an eligible applicant;

B. a comprehensive plan for the use of the financial assistance, including:

(1) documentation of the need for the type of proposed activity, including information on the extent to which persons and families of low and moderate income will benefit;

(2) a detailed description of all other financial resources available to the applicant to complete the activity, including those from other public or private sources; and

(3) a timetable for the completion of the proposed activity;

C. documentation of the applicant's ability to complete and maintain the property in accordance with its funded use for the period of time identified in the application;

D. documentation sufficient to establish that the cost and quality of the proposed activity is reasonable;

E. evidence of the intended use of a ground lease which meets the requirements of Minnesota Statutes, section 462A.31; and

F. if the applicant intends to contract with an eligible nonprofit organization to develop or manage the property, a copy of the contract and evidence of the nonprofit organization's abilities and capacities to fulfill program requirements.

Minn. R. agency 148, ch. 4900, NEIGHBORHOOD LAND TRUST PROGRAM, pt. 4900.3432

18 SR 390

Statutory Authority: MS s 462A.06