(a) An applicant is eligible for a loan if he or she is a senior citizen homeowner, is a resident of the District, and has resided in his or her principal place of residence for at least 3 years preceding the date of the application for assistance under this chapter. Lower income applicants shall be given priority consideration by the Mayor with respect to the issuance of loans.
(b) To determine the eligibility of an applicant, the Mayor shall develop an application form.
(c) In order to apply for a loan under this chapter, an applicant shall complete the application form and return it to the Mayor at the time and in the manner in which the Mayor shall prescribe.
(d) The Mayor shall verify the contents of the application form and determine whether the applicant meets the requirements for age, residency, and principal place of residence.