198A.748 Application procedures -- Granting of funds -- Priority of applications --
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/ky/198a-748A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Services to be provided. The corporation shall:
(1)Issue a public notice to eligible recipients regarding the availability of trust fund
moneys at least twice each calendar year;
(2)Provide a reasonable opportunity for the filing of applications;
(3)After consultation with the Rural Housing Trust Fund Advisory Committee created
in KRS 198A.750, approve or deny properly submitted and completed applications
within ninety
(90)days of their receipt;
(4)Approve applications that will effectively use available moneys;
(5)Approve or deny applications by ranking the applications competitively using
criteria established by the corporation in consultation with the advisory committee
and promulgated in an administrative regulation under KRS Chapter 13A;
(6)Give priority to applications in the following order:
(a)Applications for projects located in a federally declared disaster area or
projects assisting individual recipients displaced by a federally declared
disaster area;
(b)Applications for projects submitted by nonprofit organizations or local
governments for new rural housing construction;
(c)Applications for projects using existing privately owned housing stock,
including stock purchased by nonprofit public development activities;
(d)Applications for projects using existing publicly owned housing stock; and
(e)Applications from local governments for projects that demonstrate effective
zoning, conversion, or demolition controls for single room occupancy units;
(7)Provide technical assistance to eligible recipients seeking to construct, rehabilitate,
or finance housing-related services for moderate income individuals. The
corporation may contract with nonprofit organizations to provide the technical
assistance required by this subsection; and
(8)Provide the following services:
(a)Financial planning and packaging for housing projects, including alternative
ownership programs and bridge financing;
(b)Project design, architectural planning, siting, and compliance with planning
requirements;
(c)Securing matching resources for project development;
(d)Maximizing local government contributions to project development in the
form of land donations, infrastructure improvements, waivers of development
fees, local and state managed funds, zoning variances, density bonuses for
low-rise multifamily projects, or creative local planning;
(e)Coordination with local planning, economic development, environmental,
technical assistance, and recreational activities;
(f)Construction and material management; and
(g)Project maintenance and management.