For each loan assigned, the Contractor shall perform one or more of the following tasks as directed by the Contract Monitor: 1) Determine Threshold or Eligibility Compliance. Review financing proposals from developers to determine that they comply with program threshold or eligibility requirements by evaluating the application package material submitted, comparing the proposals to program guidelines and completing a threshold analysis worksheet. 2) Conduct Site Inspections. Inspect project sites and application materials related to the construction, market, site and neighborhood to determine that the work proposed, site conditions and neighborhood characteristics meet Program guidelines. 3) Determine Project Selection Compliance. Review financing proposals to determine compliance with program selection/rating criteria by evaluating application materials submitted, completing a project evaluation worksheet indicating the criteria met, and presenting projects to an internal review committee. For tax-exempt bond projects, bond inducement approval must be secured from the Housing Finance Review Committee (“HFRC”) and the Secretary of the Department of Housing and Community Development (“Secretary”)...
