An FCF loan, or grant funded under the FCF 4, FCF 5, or FCF 6 Legislation, may be made only for a Residential Housing Development that is a Financially Feasible Project and which:

1. (1) complies, or upon completion will comply, with the FCF Legislation and all other applicable federal, state or local requirements, including the Americans with Disabilities Act of 1990, and 105 CMR 410.00: Minimum Standards of Fitness for Human Habitation State Sanitary Code: Chapter II; and

2. (2) in accordance with the Facilities Consolidation Plan, provides Community-based Housing for Individuals with Mental Illness or Individuals with Intellectual Disabilities, or, solely in the case of funding under the FCF 4 Legislation, provides Independent Integrated Housing for Low or Moderate Income Households or Individuals served by DMH or writes down building costs of Independent Integrated Housing or other Community-based Housing for Low or Moderate Income Households or Individuals served by DMH, all of whom are either:

   1. (a) current or former residents of Facilities who have been adversely affected by the Facilities Consolidation Plan;
   2. (b) awaiting Community-based Housing due to historically high costs needed to maintain Facilities, as certified by DDS or DMH in connection with an Application; or
   3. (c) living in Community-based Housing but are underserved due to historically high costs needed to maintain Facilities, as certified by DDS or DMH in connection with an Application.
3. (3) is developed and owned by one or more Nonprofit Corporations (or by an entity or entities in which one or more Nonprofit Corporations have a controlling financial or managerial interest); or by one or more For-profit Organizations, provided that preference for subcontracts shall be given to Nonprofit Corporations; and
4. (4) has been approved by DDS or DMH, as applicable, prior to submission of an Application, as evidenced by the DDS or DMH letter of certification described in the FCF Guidelines.