New Hampshire Revised Statutes 204-C:62 – Rulemaking
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Pursuant to N.H. Rev. Stat. § 204-C:53, the authority shall adopt rules governing the affordable housing fund. Such rules shall include, but shall not be limited to:
I. Eligibility requirements for applicants.
II. Criteria for eligible projects, including, but not limited to, construction and quality standards.
III. Procedures for monitoring the implementation and management of projects.
IV. Reasonable fees to offset the cost of monitoring the operation of projects funded under this subdivision.
V. Requirements for long-term affordability of housing units in projects financed under this subdivision. Such requirements shall ensure that, at a minimum, at least 50 percent of the units in a project shall remain affordable to low and moderate income persons for the period of any loan or 20 years, whichever is longer.
VI. Requirements regarding rents and fees which may be charged for housing units funded under this subdivision.
VII. Restrictions on the ability of loan recipients to convert housing units constructed under this subdivision to uses other than those permitted by this subdivision and provisions for financial penalties and equity sharing if such conversion occurs.
VIII. [Repealed.]
IX. Any other matter necessary for the administration of this subdivision.
I. Eligibility requirements for applicants.
Terms Used In New Hampshire Revised Statutes 204-C:62
- Authority: shall mean the New Hampshire housing finance authority. See New Hampshire Revised Statutes 204-C:1
- Housing: shall mean one or more new or existing dwelling units in the state financed pursuant to this chapter, including homes for persons with disabilities, mobile homes, prefabricated homes, any buildings, land, improvements, equipment, facilities or other real or personal properties which are deemed by the authority to be necessary, convenient, ancillary or desirable in connection with such dwelling units, and including, but not limited to, streets, sewers, utilities, parks, site preparation, off-site facilities, landscaping and other nonhousing facilities such as administrative, community, transportation, health, recreational, educational, commercial, retail, welfare and public facilities. See New Hampshire Revised Statutes 204-C:1
II. Criteria for eligible projects, including, but not limited to, construction and quality standards.
III. Procedures for monitoring the implementation and management of projects.
IV. Reasonable fees to offset the cost of monitoring the operation of projects funded under this subdivision.
V. Requirements for long-term affordability of housing units in projects financed under this subdivision. Such requirements shall ensure that, at a minimum, at least 50 percent of the units in a project shall remain affordable to low and moderate income persons for the period of any loan or 20 years, whichever is longer.
VI. Requirements regarding rents and fees which may be charged for housing units funded under this subdivision.
VII. Restrictions on the ability of loan recipients to convert housing units constructed under this subdivision to uses other than those permitted by this subdivision and provisions for financial penalties and equity sharing if such conversion occurs.
VIII. [Repealed.]
IX. Any other matter necessary for the administration of this subdivision.