Agenda - 09-09-2002 - 1 - Laserfiche WebLink

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- a3 Leveraging The requirement that all outside funding sources be committed within six months of the date of the finding award is unrealistic. Many funding sources are cyclical,and can only be applied for at specified times of the year. Likewise,notifications of awards of funding are not within the control of the applicant. Since the bond funding may be the first source that is approved, and the source that is key to moving forward with the project, it will be used to leverage additional finding that often cannot be applied for until notification that the bond finding has been awarded. Under the project completion section, existing housing program activities must be completed within three years of finding award,and new construction must begin within three years. This implies a longer period of time to put together the project financially. A minimum one year time frame with the possibility of extensions would be more acceptable and certainly more realistic, giving the applicant adequate time to apply for all possible funding. General comments about scoring The use of"maximum points to be awarded"under each category implies that points less than the maximum may be awarded within each subcategory. For example,under project feasibility, item 1 states "The applicant can demonstrated site control zoning compliance, and a timely construction schedule that is feasible,"for a maximum of 4 points. If the applicant meets the site control and timely construction requirements,but the property must undergo rezoning, would some points be awarded, or is it an all or nothing criteria? Hopefully,partial points will be awarded within each of the sub categories.