California Code of Regulations › Title 25 - Housing and Community Development › Division 1 - Housing and Community Development › Chapter 7 - Department of Housing and Community Development Programs › Subchapter 13 - Mobile Home Park Resident Ownership Program › Article 3 - Application and Funding Procedures › Section 8012 - Applications for Loan Commitments

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The department shall award loan
					 commitments through the issuance of Notice of Availability of Funds (NOFA). The
					 NOFA identify whether applications will be accepted on a competitive basis with
					 a specified deadline and/or on an over-the-counter basis. The department will
					 determine which method will best implement the goals and purposes of the
					 program. Applicants may submit applications for loan commitments only in
					 response to a NOFA issued by the department. A single application shall be
					 submitted for a commitment for all program loans desired for the
					 project.
(b) Department forms shall
					 be used for applications which shall include the following.
(1) evidence of the eligibility of the
					 applicants, project, and all activities;
(2) a description of the project and how the
					 program funds will be used;
(3) a
					 detailed plan and scheduled for implementing and administering the
					 project;
(4) a detailed financial
					 plan for the project which identifies the anticipated sources of all financing
					 and the proposed specific uses for program funds;
(5) the qualifications of the parties
					 implementing and administering the project;
(6) evidence or a certification of compliance
					 with relevant state and local laws and ordinances, or a detailed description of
					 how and when compliance will be achieved;
(7) evidence signed by a representative of
					 the local government that the project complements the implementation of a local
					 housing program to preserve or increase the supply of housing for persons and
					 families of low and moderate income, and will be consistent with local zoning
					 and land use policies upon completion.
(8) evidence that the resident organization
					 has site control which means the right or ability to obtain possession of the
					 mobilehome park for a period of not less than 15 years. Such evidence includes,
					 but is not limited to, an executed contract to purchase, an executed
					 irrevocable option agreement, or a written agreement from the property owner to
					 convert the mobilehome park to resident ownership;
(9) a program of assistance for low-income
					 residents if a blanket loan is requested;
(10) a statement concerning the potential for
					 displacement of residents from the project and a plan to provide specific
					 mitigation measures or relocation benefits consistent with Section
					 8020;
(11) a commitment from a loan
					 originator selected by the applicant or a plan for selecting a loan originator
					 to originate individual loans if the application is exclusively for such
					 loans;
(12) written authorization
					 from the applicant's governing boards in the form of a certified resolution to
					 submit an application for a loan commitment;
(13) any commitments from the local public
					 entity and/or other sources to provide financial and other assistance to the
					 project; and
(14) other information
					 required by the department to determine the eligibility of, evaluate the
					 feasibility of, and rate the project.