2005 Connecticut Code - Sec. 8-437. Regulations.

      Sec. 8-437. Regulations. The commissioner shall adopt regulations in accordance with the provisions of chapter 54, to carry out the purposes of sections 8-430 to 8-438, inclusive. Such regulations may describe and set forth such procedures and criteria as the commissioner determines to be necessary or appropriate to carry out the purposes of sections 8-430 to 8-438, inclusive, and shall:

      (1) Describe the procedures to be employed and factors to be considered by the commissioner in approving certificates or articles of incorporation or other basic documents of organization pursuant to sections 8-430 to 8-438, inclusive;

      (2) Describe the method of calculation and conditions for payment of any developer's fee provided pursuant to sections 8-430 to 8-438, inclusive, including, without limitation, the calculation and conditions for any incentive to be paid for housing developments containing units for eligible households of very low income;

      (3) Describe the method of calculation and conditions for use of any reasonable working capital reserves financed with financial assistance provided pursuant to section 8-433, and set forth the criteria to be applied by the commissioner in determining the need for such reserves;

      (4) Set forth the criteria to be applied in determining annual household income pursuant to sections 8-430 to 8-438, inclusive;

      (5) With respect to guarantees for which financial assistance pursuant to section 8-433 may be provided, (A) set forth the criteria to be applied by the commissioner and the State Treasurer in determining the terms and conditions of any such guarantee, and in determining the adequacy of reserves with respect to any such guarantee, and (B) describe the manner in which such reserves shall be maintained by or on behalf of the state;

      (6) Set forth the criteria to be applied by the commissioner in approving as eligible costs the reimbursement or refinancing of costs and expenses incurred by an eligible developer prior to receiving financial assistance pursuant to section 8-433;

      (7) Set forth the categories of reasonable and necessary costs and expenses incurred with respect to a housing development that constitute eligible costs;

      (8) Describe the method of calculation of any rental or service supplement to be financed with financial assistance pursuant to section 8-433, and set forth the criteria to be applied by the commissioner in determining the need for such rental or service supplement;

      (9) Describe the procedures to be employed and factors to be considered by the commissioner in estimating the cost to the state of financial assistance with respect to market-rate housing units included in a housing development pursuant to section 8-433;

      (10) Establish a procedure, consistent with the comprehensive housing affordability strategy, for the commissioner to solicit and competitively rate and rank proposals for financial assistance pursuant to section 8-433, and describe the procedures to be employed and factors to be considered by the commissioner in establishing objectives with respect to the allocation of financial assistance pursuant to section 8-433 in any fiscal year based upon: (A) The annual household income of eligible households to be served; (B) the types of units to receive such financial assistance; and (C) the approximate geographic location of all such units;

      (11) Describe (A) the procedures to be employed and factors to be considered by the commissioner in reviewing and approving the site, the estimated development budget and the proposed initial operating budget of each proposed housing development, and (B) the items to be addressed in such estimated total development budget and proposed initial operating budget, pursuant to section 8-435;

      (12) Describe the procedures to be employed and factors to be considered by the commissioner in reviewing and approving operating budgets, and the items to be addressed in such operating budgets, pursuant to section 8-435;

      (13) Set forth the specific aspects of the terms and conditions of proposed financial assistance and manner of documenting and securing such terms and conditions that must be described pursuant to section 8-436 in any request for approval by the State Bond Commission for financial assistance pursuant to section 8-433, or any request for approval by the Governor of an allotment for financial assistance pursuant to section 8-433, as the case may be;

      (14) Set forth the criteria to be applied by the commissioner in approving any requested waiver, release or amendment of any term or condition imposed with respect to a housing development pursuant to section 8-436, or any lien or encumbrance taken by the department with respect to such term or condition, including, without limitation, the objective data to be used under subdivision (1) of subsection (b) of section 8-436 to determine whether there is available in the area of the housing development for which such waiver, release or amendment is sought an adequate supply of habitable housing for the full range of very low, low and moderate income persons;

      (15) Set forth the criteria to be applied by the commissioner in approving any requested transfer of any housing development or unit in any housing development for which such approval is required pursuant to section 8-436; and

      (16) Provide guidelines for housing development models that may be eligible for financial assistance under section 8-433, such as, without limitation, limited equity cooperative, mutual housing or community housing development loan fund models, provided models not included in such guidelines shall not be construed to be ineligible for financial assistance under section 8-433 if otherwise eligible and models included shall not be construed to be eligible if they are not otherwise eligible.

      (P.A. 93-309, S. 8, 29; P.A. 94-156, S. 3, 5.)

      History: P.A. 93-309 effective July 1, 1993; P.A. 94-156 deleted Subdiv. (13) re administrative oversight charges and renumbered the remaining Subdivs. accordingly, effective July 1, 1994.