Minnesota Administrative Rules

4900.0354 ELIGIBLE DEVELOPMENTS.

A development that is eligible to receive market rate elderly shallow rental subsidies for its tenants must:

A.

receive permanent financing from the agency after August 1, 1984;

B.

be designed to serve low- and moderate-income elderly households;

C.

be either newly constructed or substantially rehabilitated; and

D.

be owned by either a limited dividend or nonprofit entity as defined in part 4900.0010.

Statutory Authority:

MS s 462A.06

History:

9 SR 1249

Published Electronically:

October 2, 2013