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5 <br />C. Evaluation Criteria <br />The evaluation criteria below will be used in reviewing and ranking housing bond <br />fund proposals. Additional guidelines may need to be added to these in the <br />actual solicitation package depending upon the location and nature of the project. <br />Affordability (30 points) <br />The degree to which the proposed project would serve those with incomes <br />below the maximum and the period of time over which the project would <br />remain affordable to that income group. <br />a. Income targeting - 20 points <br />- If the project is designed to serve households earning less than <br />50% of the area median income, the full 20 points will be <br />awarded. <br />- If the project serves household earning less than 60% of the <br />area median income, 15 points will be awarded. <br />- If the project serves household earning less than 70% of the <br />area median income, 10 points will be awarded. <br />- If the project serves household earning less than 80% of the <br />area median income, 5 points will be awarded. <br />- (BONUS) If 100% of the units in a project serves households <br />earning less than 25% of the area median income, 5 points will <br />be awarded. <br />b. Affordability -10 points <br />- If the project is designed to remain affordable for over 40 years, <br />the full 10 points will be awarded. The period of affordability will <br />be reinforced by deed restrictions. <br />- If a project is designed to remain affordable for 31 - 40 years, <br />five points will be awarded. The period of affordability will be <br />reinforced by deed restrictions. <br />5 <br />09/24/98 <br />