20:09:24:02Eligibility.

Loans or other authority financing may be provided to rural site development projects which meet the following criteria: (1) The applicant must provide evidence of credit worthiness and repayment ability; (2) The applicant must provide a plan for the development including the use of a qualified development team including all skills anticipated to be required for the eventual success of the development project; (3) In evaluating projects for funding, the authority may give a preference for those applications which establish the lowest purchase price and income limits for homes constructed on the development project.

Source: 22 SDR 64, effective November 12, 1995.