- (a) The department shall determine what amount or percentage of authorized, available funding shall be awarded through the HPM grant program, dependent upon program demand, needs, and available resources.
(b) Funding shall be distributed as follows:
- (1) A municipality shall receive $10,000 per unit for each unit of deed restricted workforce housing for which certificates of occupancy have been issued by the municipality in the preceding state fiscal year;
- (2) If funds are not exhausted after the initial distribution in (a) above the department shall facilitate additional application rounds until all funding is exhausted; and
- (3) In the event of oversubscription in a year’s funding round, each applicant shall be capped to no more than half the funding available at the start of an application round.
Source. #14043, eff 8-8-24