1. (a) The sponsor shall request funds from the department for actual expenditures in accordance with the schedule and the authorized amounts in the approved project budget in the Development Agreement. The information on any request for funds shall be subject to verification by the department. Requests shall be made on form HCD 810, “Request for Funds,” 12/89, as set forth in subsection (b). This form is provided by the department.

2. (b) Text of form HCD 810, “Request for Funds,” dated 12/89:

   HCD 810, 12/89

   RENTAL HOUSING CONSTRUCTION PROGRAM REQUEST FOR FUNDS #

3. 1. BORROWER (Payee): ________________________________________
4. 2. ADDRESS: _______________________________________________________

5. 3. CONTRACT NUMBER: ________________________________________

   4.

   APPROVED LOAN AMOUNT

   AMOUNT PER THIS REQUEST

   PREVIOUSLY APPROVED

   TOTAL AMOUNT BALANCE

   $

   $

   $

   $

6. 5. USE OF FUNDS REQUESTED: (Specify line items per Development Agreement Budget.)

   $ ___________________________________________________________________________

   $ ___________________________________________________________________________

   $ ___________________________________________________________________________

   $ ___________________________________________________________________________

7. 6. DRAW CHECK IN TOTAL AMOUNT OF: $ _________________________

8. 7. SEND CHECK TO:

   Department of Housing and Community Development

   Accounting Office

   P.O. Box 952050

   Sacramento, CA 94252-2050

9. 8. CERTIFICATION: I, the undersigned, do hereby certify that (1) the funds requested above will be used only in accordance with the above numbered State Standard Agreement and the Development Agreement entered into pursuant to this Standard Agreement, and only for eligible costs, as specified in the RHCP regulations; and (2) the Borrower and the project are in full compliance with the Standard Agreement, the Development Agreement, and all other agreements by and between the Borrower and the Department of Housing and Community Development entered into pursuant to the Standard Agreement.

   Signed:

   Title:

   Date: ______________________________

   DO NOT WRITE BELOW THIS LINE _

   The work performed for which this request for disbursement is presented is in accordance with all provisions of Contract Number ____________________ between _________________________ and the Department of Housing and Community Development, and is hereby approved for payment.

   Program Manager: __________________________________________________ Date: ______________________________

10. (c) Prior to the disbursement of funds, the sponsor shall provide or execute all required documents which the department determines are necessary to verify the claimed expenditure.

11. (d) The department may enter into agreements with other lenders or public or private entities to disburse funds and monitor construction and may make direct payments to such third party contractors on behalf of sponsors.

    1. (A) any required documents are executed by the sponsor;
    2. (B) the sponsor is in compliance with all applicable conditions for the advance of funds;
    3. (C) the sponsor submits a “Request for Funds”; and
    4. (D) the sponsor certifies that it does not have adequate funds to commence the project.
    5. (2) The advance payment shall not exceed 25 percent of the approved administrative costs.
    6. (3) All disbursements subject to the initial advance shall be made only to pay for actual eligible costs incurred.

    (e)(1) If a sponsor is a nonprofit corporation or a government entity, the department may disburse an initial advance payment subject to the following conditions:

Note: Authority cited: Section 50771.1, Health and Safety Code. Reference: Section 50771.1, Health and Safety Code.

History

1. New section filed 12-29-89 as an emergency; operative 12-29-89 (Register 90, No. 3). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed by operation of law on 4-30-90.

2. New section refiled 4-26-90 as an emergency; operative 4-26-90 (Register 90, No. 23). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed by operation of law on 8-24-90.

3. New section refiled 8-27-90 as an emergency; operative 8-27-90 (Register 90, No. 42). A Certificate of Compliance must be transmitted to OAL by 12-26-90 or emergency language will be repealed by operation of law on the following day.

4. New section refiled 12-19-90 as an emergency pursuant to Health and Safety Code section 50771.3; operative 12-19-90 (Register 91, No. 4). A Certificate of Compliance must be transmitted to OAL by 4-18-91 or emergency language will be repealed by operation of law on the following day.

5. Certificate of Compliance as to 12-19-90 order transmitted to OAL 1-4-91; disapproved by OAL 2-4-91 (Register 91, No. 13).

6. New section refiled 2-20-91 as an emergency; operative 2-20-91 (Register 91, No. 13). A Certificate of Compliance must be transmitted to OAL by 6-17-91 or emergency language will be repealed by operation of law on the following day.

7. Certificate of Compliance as to 6-14-91 order including amendment of subsections (a) and (b) transmitted to OAL 5-15-91 and filed 6-14-91 (Register 91, No. 38).