12-5253. Same; housing development grant program, application, matching funds requirement.
12-5253
12-5253. Same; housing development grant program,
application, matching funds requirement.
(a) The corporation is hereby authorized to develop a
program of grants to cities
or counties to carry out housing development activities in accordance with the
provisions
of this act. Cities or counties to be awarded grants pursuant to this act shall
be selected
by the corporation in accordance with rules and regulations adopted by the
president of the corporation.
(b) A city or county shall submit a request for grant funds to the
corporation in a
form and manner prescribed by the corporation. Such request shall include a
statement of such city's or county's proposed housing development activities,
projected use
of grant funds and any other information related to
the grant required by the corporation.
(c) As part of any request for grant funds the requesting city or county
shall certify
to the corporation that the city or county will provide matching funds in an
amount equal
to at least 10% of the total amount of funds granted to the city or county by
the
corporation if the grant funds are to be used for construction or
rehabilitation of infrastructure, and at least 50% of the total amount of funds
granted if the grant funds are to be used by a city or county housing authority
for
purposes other than construction or rehabilitation of infrastructure, or
in-kind labor and services with an equivalent value and that
the city or county will comply with all other provisions of this act and abide
by all
federal, state and local laws.
(d) The president of the corporation shall adopt rules and regulations
regarding the application procedure, grant periods, grant evaluation and
reporting criteria, the filing of forms that support the request for grant
awards, the method and manner of payment of grant funds to any city or county,
and any
other matter necessary to carry out the provisions of this act.
History: L. 2008, ch. 92, § 4; Apr. 24.