KRS 198A.748: Application procedures -- Granting of funds -- Priority of applications --

Services to be provided.

The corporation shall:

(1) Issue a public notice to eligible recipients regarding the availability of trust fund

moneys at least twice each calendar year;

(2) Provide a reasonable opportunity for the filing of applications;

(3) After consultation with the Rural Housing Trust Fund Advisory Committee created

in KRS 198A.750, approve or deny properly submitted and completed applications

within ninety (90) days of their receipt;

(4) Approve applications that will effectively use available moneys;

(5) Approve or deny applications by ranking the applications competitively using

criteria established by the corporation in consultation with the advisory comm ittee

and promulgated in an administrative regulation under KRS Chapter 13A;

(6) Give priority to applications in the following order:

(a) Applications for projects located in a federally declared disaster area or

projects assisting individual recipients d isplaced by a federally declared

disaster area;

(b) Applications for projects submitted by nonprofit organizations or local

governments for new rural housing construction;

(c) Applications for projects using existing privately owned housing stock,

including stock purchased by nonprofit public development activities;

(d) Applications for projects using existing publicly owned housing stock; and

(e) Applications from local governm ents for projects that demonstrate effective

zoning, conversion, or demolition controls for single room occupancy units;

(7) Provide technical assistance to eligible recipients seeking to construct, rehabilitate,

or finance housing -related services for mod erate income individuals. The

corporation may contract with nonprofit organizations to provide the technical

assistance required by this subsection; and

(8) Provide the following services:

(a) Financial planning and packaging for housing projects, includin g alternative

ownership programs and bridge financing;

(b) Project design, architectural planning, siting, and compliance with planning

requirements;

(c) Securing matching resources for project development;

(d) Maximizing local government contributions to project development in the

form of land donations, infrastructure improvements, waivers of development

fees, local and state managed funds, zoning variances, density bonuses for

low-rise multifamily projects, or creative local planning;

(e) Coordination wi th local planning, economic development, environmental,

technical assistance, and recreational activities;

(f) Construction and material management; and

(g) Project maintenance and management.