A. Threshold Criteria
1) Readiness to Proceed: Applicant must demonstrate that development of affordable homeownership
opportunities for middle-income households will commence within six (6) months of funding. To be
awarded and maintain a funding reservation, all applicants must demonstrate readiness to proceed
throughout the process. An assessment of a proposal’s initial readiness to proceed will be made based
upon the applicant’s ability to achieve the following: obtain all written land use and zoning approvals and
building permits; evidence of site control; secure all funding commitments; and demonstrate financial
RIHousing will use its best professional judgment in evaluating an application for readiness to proceed.
Staff will consider the applicant’s past performance in meeting permitting, funding and closing deadlines.
2) Financial Feasibility: The applicant must demonstrate that the proposal is financially feasible.
RIHousing reserves the right to deny funding of proposals for which adequate funding commitments
have not been secured for all development costs.
3) Development Team Capacity: The development team must have experience in the successful
development and sale of affordable homeownership opportunities. The development team will be
evaluated on its professional capacity to plan, build, market, and sell the proposed home(s). Each team
member is expected to demonstrate satisfactory prior experience on projects of similar scale and
complexity; to have satisfactory professional references; and to devote sufficient staffing and resources to
complete the proposed project. The applicant will also be evaluated for creditworthiness and financial
4) Demonstration of Need or Demand: The applicant must demonstrate the need or demand for the
project through market analysis, local demographics, existing demand for the project, etc.
RIHousing reserves the right to deny funding to any proposal where (i) any materially participating entity
is not in good standing regarding compliance monitoring of other RIHousing funded projects; or (ii) any
partner, developer or other key development team member has been determined by RIHousing to be not
creditworthy. Creditworthiness takes into consideration the financial condition of an organization and
management capabilities. RIHousing will review each applicant’s most recent audit to ensure financial
capacity to develop the project.
B. Scoring Criteria
Residential Point Allocation Summary
25 points General