Title 202 | Chapter 002 | Regulation 020
PREVIOUS VERSION
The previous document that this document is based upon is available.
202 KAR 2:020.Rural Housing Trust Fund.
Section 1.
Qualification Criteria.(1)
Applications shall be prioritized based on the priorities established in KRS 198A.748(6).(2)
Single-family project applications shall be competitively ranked based on the following criteria:(a)
Willingness to serve those in the most impacted and distressed disaster counties;(b)
Readiness to proceed;(c)
Number of units to be addressed by the project;(d)
Demonstrated experience in development or repair of housing;(e)
Projects to house disaster survivors still living in shelters, doubled up with family, or in another unsustainable housing situation;(f)
Established relationships and mechanisms to ensure a pipeline of moderate-income homebuyer referrals;(g)
Demonstrated expansion of capacity to develop at scale; and(h)
Demonstrated financial capacity to carry out larger-scale housing projects.(3)
Multifamily project applications shall be competitively ranked based on the following criteria:(a)
Willingness to serve those in the most impacted and distressed western Kentucky disaster counties;(b)
Readiness to proceed;(c)
Experience in development of multifamily housing utilizing Kentucky Housing Corporation financing resources;(d)
Demonstrated financial capacity to carry out larger-scale housing projects; and(e)
Projects awarded under the Kentucky Housing Corporation tax exempt bond notice of funding availability in accordance with the terms of the notice of funding availability.(4)
Approval of applications shall be based on the numerical ranking received and the availability of funds.Section 2.
Relocation Costs. In the development of rural housing under the Rural Housing Trust Fund, displacement of moderate-income individuals or families shall not be permitted unless the project pays all reasonable relocation costs. Reasonable relocation costs shall be determined on a case-by-case basis based on the following criteria:(1)
Provision of relocation advisory services to displaced tenants and owner occupants;(2)
Provision of a minimum of ninety (90) days written notice to vacate prior to requiring possession;(3)
Reimbursement for moving expenses; and(4)
Provision of payments for the added cost of renting or purchasing comparable replacement housing.HISTORY: (50 Ky.R. 529, 1066; eff. 1-30-2024.)
FILED WITH LRC: October 10, 2023
CONTACT PERSON: Samuel Thorner, General Counsel, Kentucky Housing Corporation, 1231 Louisville Road, Frankfort, Kentucky 40601, phone (502) 564-7630, fax (502) 564-7322, email sthorner@kyhousing.org.
202 KAR 2:020.Rural Housing Trust Fund.
Section 1.
Qualification Criteria.(1)
Applications shall be prioritized based on the priorities established in KRS 198A.748(6).(2)
Single-family project applications shall be competitively ranked based on the following criteria:(a)
Willingness to serve those in the most impacted and distressed disaster counties;(b)
Readiness to proceed;(c)
Number of units to be addressed by the project;(d)
Demonstrated experience in development or repair of housing;(e)
Projects to house disaster survivors still living in shelters, doubled up with family, or in another unsustainable housing situation;(f)
Established relationships and mechanisms to ensure a pipeline of moderate-income homebuyer referrals;(g)
Demonstrated expansion of capacity to develop at scale; and(h)
Demonstrated financial capacity to carry out larger-scale housing projects.(3)
Multifamily project applications shall be competitively ranked based on the following criteria:(a)
Willingness to serve those in the most impacted and distressed western Kentucky disaster counties;(b)
Readiness to proceed;(c)
Experience in development of multifamily housing utilizing Kentucky Housing Corporation financing resources;(d)
Demonstrated financial capacity to carry out larger-scale housing projects; and(e)
Projects awarded under the Kentucky Housing Corporation tax exempt bond notice of funding availability in accordance with the terms of the(4)
Approval of applications shall be based on the numerical ranking received and the availability of funds.Section 2.
Relocation Costs. In the development of rural housing under the Rural Housing Trust Fund, displacement of moderate-income individuals or families shall(1)
Provision of relocation advisory services to displaced tenants and owner occupants;(2)
Provision of a minimum of ninety (90) days written notice to vacate prior to requiring possession;(3)
Reimbursement for moving expenses; and(4)
Provision of payments for the added cost of renting or purchasing comparable replacement housing.HISTORY: (50 Ky.R. 529, 1066; eff. 1-30-2024.)
FILED WITH LRC: October 10, 2023
CONTACT PERSON: Samuel Thorner, General Counsel, Kentucky Housing Corporation, 1231 Louisville Road, Frankfort, Kentucky 40601, phone (502) 564-7630, fax (502) 564-7322, email sthorner@kyhousing.org.