As contained in Arkansas Code § 15-5-1709(a) of the Arkansas Housing Trust Fund Act of 2009, Arkansas Code § 15-5-1701 et seq., for an activity to be eligible for Arkansas Housing Trust Fund support, the following minimum requirements must be present:

1. (1) Beneficiaries of the activity must have total annual household income equal to or less than eighty percent (80%) of the United States Department of Housing and Urban Development area median household income, adjusted for family size;
2. (2) Housing funded by the Arkansas Housing Trust Fund must have the same duration of affordability as set forth in the rules of the Arkansas Development Finance Authority HOME Investment Partnerships Program;
3. (3) Housing funded by the Arkansas Housing Trust Fund must adhere to the universal design criteria set forth in the rules of the authority;
4. (4) Housing funded by the Arkansas Housing Trust Fund must meet all building and maintenance standards set forth in the rules of the authority; and
5. (5) Housing funded by the Arkansas Housing Trust Fund may not expend more than ten percent (10%) of the project budget for administrative costs or developer fees.