04 NCAC 19S .0403           PROGRAM CATEGORY ALLOCATION

(a)  HOME funds received by the State each year and available for award after reservations of funds under this Subchapter have been allocated, will be reserved for each program category as follows: at least fifteen percent of the funds will be reserved for awards under the Community Housing Development Organization program.  Up to fifty percent of the funds will be available for the Consortia Category.  The remaining funds will be distributed to applicants that have applied for funds under the Housing Projects Category.

(b)  If applicants fail to request the full amount of the set‑aside in any category or if the Department  is unable (for any reason including lack of applicant administrative capacity) to distribute the full amount of the set‑aside then the remaining funds may be distributed to projects of the other categories.

 

History Note:        Authority G.S. 143B‑10; 143B‑431; 24 C.F.R. Part 92;

Eff. November 2, 1992.