12-5253.   Same; housing development grant program,application, matching funds requirement.(a) The corporation is hereby authorized to develop aprogram of grants to citiesor counties to carry out housing development activities in accordance with theprovisionsof this act. Cities or counties to be awarded grants pursuant to this act shallbe selectedby the corporation in accordance with rules and regulations adopted by thepresident of the corporation.

      (b)   A city or county shall submit a request for grant funds to thecorporation in aform and manner prescribed by the corporation. Such request shall include astatement of such city's or county's proposed housing development activities,projected useof grant funds and any other information related tothe grant required by the corporation.

      (c)   As part of any request for grant funds the requesting city or countyshall certifyto the corporation that the city or county will provide matching funds in anamount equalto at least 10% of the total amount of funds granted to the city or county bythecorporation if the grant funds are to be used for construction orrehabilitation of infrastructure, and at least 50% of the total amount of fundsgranted if the grant funds are to be used by a city or county housing authorityforpurposes other than construction or rehabilitation of infrastructure, orin-kind labor and services with an equivalent value and thatthe city or county will comply with all other provisions of this act and abideby allfederal, state and local laws.

      (d)   The president of the corporation shall adopt rules and regulationsregarding the application procedure, grant periods, grant evaluation andreporting criteria, the filing of forms that support the request for grantawards, the method and manner of payment of grant funds to any city or county,and anyother matter necessary to carry out the provisions of this act.

      History:   L. 2008, ch. 92, § 4; Apr. 24.