To qualify for a Program loan, a group home sponsor shall own and operate a group home and be: a nonprofit organization; an individual; or a limited partnership if: each general partner qualifies as a nonprofit organization; or each general partner is a wholly owned subsidiary of a nonprofit organization; the limited partnership is formed to undertake a group home project that is totally or partly eligible for a federal low income housing tax credit program or any other federal program or incentive; and a nonprofit organization manages the project or receives the net cash flow from or the residual sale proceeds on sale of the group home.