(1) The board will review the following criteria in considering an application for an CTMH loan:

(a) the applicant's experience in managing or developing housing for low-income and/or moderate-income households;

(b) the percentage of the units in the project that will be available for low-income or moderate-income households;

(c) the need for low-income and moderate-income housing in the community where the project is to be located;

(d) project location;

(e) the loan size and whether it maximizes the geographical distribution of the loan program; and

(f) the use of other funds to leverage the use of CTMH funds.