265—39.8(16) Allocation of funds.
- 39.8(1) The authority may retain up to 10 percent of the state’s annual HOME allocation from HUD for administrative costs associated with program implementation and operation.
- 39.8(2) Not less than 15 percent of the state’s annual HOME allocation is reserved for eligible housing activities developed, sponsored or owned by CHDOs unless HUD allows a lower percentage.
- 39.8(3) The authority reserves the right to negotiate the amount of funds provided for general administration, but the maximum amount of the total HOME award that may be used for general administrative costs is 10 percent of the HOME award. Only local government and nonprofit recipients are eligible for general administrative funds.
- 39.8(4) The authority reserves the right to negotiate the amount and terms of a HOME award.
- 39.8(5) The authority reserves the right to make award decisions such that the state maintains the required level of local match to HOME funds.
[ARC 0114D, IAB 3/4/26, effective 4/8/26]