(b) The corporation will evaluate applications based on the following criteria which may be implemented through the application of program standards, revised from time-to-time, which will effect the requirements hereof, based on the corporation's estimation and projection of the pool of applications which will be received while funds are available:

1. (1) extent to which the proposal will serve a demonstrated need;
2. (2) extent to which the proposal will serve the lowest income households possible in the applicable area and the measures designed to assure continued affordability;
3. (3) leveraging of private and public investment (special weight will be given to applications maximizing private investment);
4. (4) contribution of the proposal to the improvement of the neighborhood or community;
5. (5) nondisplacement of low and moderate income residents of the neighborhood and community;
6. (6) timely project commencement and completion;
7. (7) utilization of innovative, cost-effective design techniques and building materials which reduce construction, rehabilitation or operating costs;
8. (8) comprehensiveness of administrative plan and evidence of applicant's capacity to effectively implement and manage the project(s) or program; and
9. (9) extent to which applicant has a record of successful past performance in the program and other similar activities.