1. (A) Pursuant to this article and in accordance with the procedures adopted by the board, the executive director is responsible for the day-to-day operations of the fund.

2. (B) The executive director shall:

   1. (1) develop and implement a comprehensive program for the use of the fund which ensures the equitable distribution of monies in the fund between urban and rural areas of South Carolina;
   2. (2) develop and implement an application and selection system to identify housing sponsors and affordable housing developments which qualify to receive assistance from the fund;
   3. (3) provide technical assistance to prospective applicants;
   4. (4) monitor developments receiving assistance from the fund to ensure that the developments are operated in a manner consistent with this article and in accordance with the representations made by the sponsors of these developments to the fund; and
   5. (5) ensure that all developments receiving assistance from the fund are operated in a manner consistent with the South Carolina Fair Housing Law.
3. (C) The executive director may utilize members of the authority staff as considered necessary to discharge the executive director's responsibilities under this section.

HISTORY: 1992 Act No. 410, Section 1.