(a)

1. (1) Arkansas Development Finance Authority will evaluate each application to determine which projects should receive an award of national Housing Trust Fund (HTF) funds.
2. (2) All applicants must submit an application, with supporting documentation, including evidence sufficient to the authority that the applicant’s proposed project at minimum meets all of the housing priority factors in order to be considered for funding.

(d) To facilitate the evaluation process, all applicants must complete the following basic steps:

1. (1)

   1. (A) All required authority-provided forms may be found at http://adfa.arkansas.gov/lihtc-application.
   2. (B) All authority-provided forms should be submitted with original signatures, legible and all applicable spaces fully completed, and with all required third-party documents.
   3. (C) The authority will post the HTF application checklist and instructions for the complete list of required documents as provided at www.adfa.arkansas.gov prior to the beginning of the application cycle;
2. (2) All applicants must comply in all respects with ASTM E1527-13 (the ASTM Standards) as to content and adhere to the authority’s environmental policy requirements for purposes of determining whether the property is environmentally suitable for construction of residential housing;

3. (3)

   1. (A) After the initial review, each applicant will be contacted via email regarding any missing or incomplete items or documents.
   2. (B) Upon notice, applicants must submit all missing and/or incomplete items or documents in order to be considered for funding;

4. (4)

   1. (A) The application must demonstrate that the project is an eligible activity under this HTF plan and meets basic occupancy and rent restrictions required of HTF regulations.
   2. (B) The rental housing units must be under common ownership, deed, financing, and property management; and
5. (5) The application must also demonstrate that the project is financially feasible and is sustainable for the thirty-year affordability period with the authority’s requirements and the HTF regulations.