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1N962 <br />~a} There exists a need for the housing to be <br />generated by the project; <br />fib} The project is economically feasible; <br />~c} The project may be unable to obtain pri- <br />vate mortgage financing or may be economically <br />unfeasible with private mortgage financing; <br />~d} The project complies with all applicable <br />federal, state and city laws, including aRS 280,410 <br />to 284.485; <br />fie} The interest on bonds issued to finance <br />or refinance the project ar to make, purchase, ser- <br />vice or sell mortgage loans issued in connection <br />with the project will be exempt from federal income <br />taxes under ~1a3 ~a} ~1} of the Internal Revenue Code <br />of 1954, as amended, or its successor provision; and <br />~f} The project is consistent with all <br />adopted city plans and policies, including appl i- <br />cable zoning and land use regulations, <br />~Z} In making a determination on an application, <br />the committee and council shall consider the followin fac- <br />9 <br />tors,as,guidelines, Deficiencies in one factor may be offset <br />by significant advantages of the project, <br />~a} The general benefits and detriments of <br />the project to the city; <br />4b} The density of use and potential impact <br />on the area affected by the project; <br />~c} The city's ability to supply or support <br />urban services required by the project and the <br />effect of the project on the city's ability to <br />supply or support urban services to other areas; <br />a ~d} The effect of the issuance of the bonds <br />anticipated by the project upon the bond credit <br />rating of the city and the city's housing revenue <br />bond authority; and <br />fie} The effect of the project and any pro- <br />posed relocation plan on persons and businesses who <br />will be dislocated or adversely affected by the <br />project, <br />2.1125 Hausin Develo rnent Pro'ects ~- Timin of Determi- <br />nations of Eli ibilit , <br />~1} within 30 days of receipt of an application <br />the staff of the committee shall prepare a written recommen- <br />dation to the committee of approval, approval with con- <br />ditions, or denial of the application, and the reasons <br />supporting the recommendation, <br />~~} within 45 days of receipt of the recommendation <br />of the staff of the committee, the committee shall b resale-- <br />tion approve a rove with y <br />pp conditions or deny the application, <br />-4- <br />