Specifications include, but are not limited to: Projects must meet the following requirements. 1. The Project must create new affordable rental housing units for households through new construction or the adaptive reuse of an existing building. Acquisition and rehabilitation of existing housing, or demolition of currently habitable housing for new construction on the same site is not allowed. 2. At least 60% of the units must be available for rent by households who earn 80% or less AMI for a period of 30 years. 3. The project must receive a score of at least nine (9) points using the scoring criteria set forth in this RFP. 4. Projects must be site‐specific. Proposed site(s) cannot be changed or substituted, under any circumstances, from the initial site(s) proposed in the application. 5. Projects must have a minimum of four rental homes affordable to households who earn 80% or less AMI. 6. Projects must demonstrate a need for BJHT funds. Development costs are evaluated for necessity and reasonableness at the time of application and reviewed prior to closing. 7. Eligible project applicants must demonstrate experience and capacity to develop an eligible project as evidenced by the ability to own, construct, or rehabilitate rental housing developments. 8. Applicants must demonstrate the capacity to successfully develop the type of units and type of construction proposed in the application. Successfully developing means coordinating the planning, financing, and construction of a development through the receipt of Certificates of Occupancy and reaching stabilized occupancy. Applicants may use the experience of a consultant to meet these requirements. 9. Construction standards within projects shall comply with: Federal, State, and Local Laws including construction requirements and accessibility requirements, as evidenced by inspection reports and/or written approval from local code enforcement officials.
