1. (a) The President of the Arkansas Development Finance Authority shall have the authority to waive a conviction, as disqualifying of an application or as good cause for the return of LIHTCs, HOME Investment Partnerships Program funds, or economic development bond funds or direct loans, upon consideration of the following factors:

   1. (1) The age of such person at the time of the offense;
   2. (2) The circumstances surrounding the offense, particularly any extenuating or mitigating matters;
   3. (3) The length of time since the offense;
   4. (4) Subsequent rehabilitated measures accomplished by such person, including whether such person was the recipient of parole or probation;
   5. (5) The number of other convictions by such person;
   6. (6) Subsequent work history;
   7. (7) Employment references;
   8. (8) Character references; and
   9. (9) Any other information authorized by the president.

2. (b) Prior to the president’s determination of disqualification or return of LIHTCs, HOME Investment Partnerships Program funds, or economic development bond funds or direct loans, the president shall notify such person of his or her:

   1. (1) Opportunity to present written evidence of the above factors listed in this section; and
   2. (2) Right for a personal appearance before the president regarding a request to waive a conviction.

Codification Notes: "LIHTC" means low-income housing tax credit.