Sec. 05.04.06.17. Program Fund Allocations; Reservation of Funds

A. It is the intent of the Department that Program funds be distributed Statewide. Monies appropriated to the Program may be made available Statewide on a first-come, first-served basis, subject to §B of this regulation. If the number of applications in process is insufficient to commit all monies appropriated to the Program within 6 months of the date of the appropriation, the Department may reallocate remaining funds to other programs authorized under the Act.

B. The Department may set aside a portion of funding for owner-occupants.

C. From time to time, the Department may establish limitations on the percentage or amount of Program funding which may be used for grants and deferred payment loans.

D. Reservation of Funds.

(1) The Department may provide forward commitments of funds to nonprofit sponsors and local governments to provide Program financing to eligible grantees or borrowers, in accordance with these regulations and on any additional terms set by the Department.

(2) The nonprofit sponsor shall be engaged in a project to provide affordable housing or medical treatment for lead poisoning.