1. (a)

   1. (1) The applicant must submit payment by check made payable to the Arkansas Development Finance Authority in the amount of five hundred dollars ($500) with each Finance Adjustment Factor (FAF) and Below Market Interest Rate (BMIR) application unless the application includes a request for low-income housing tax credits.
   2. (2) If the application includes a request for low-income housing tax credits, the application fee schedule stated in the QAP in effect at time of application shall be applicable.
2. (b) FAF/BMIR applications shall be accepted by the authority for review on a continuous basis.
3. (c) Applications that do not include all threshold documentation and information required by the QAP in effect at time of application will be rejected by the authority and will not be further reviewed.

Codification Notes: "QAP" means Qualified Allocation Plan.