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109.04.6-XVII. Community Housing Development Organizations (CHDO).

AR ADC 109.04.6-XVIIArkansas Administrative Code

West's Arkansas Administrative Code
Title 109. Development Finance Authority
Division 04. Multi-Family Housing
Rule 6. Compliance Monitoring Policies and Procedures Manual for the Home Program
Ark. Admin. Code 109.04.6-XVII
109.04.6-XVII. Community Housing Development Organizations (CHDO).
CHDOs, in accordance with the activities they are undertaking, are subject to the same program compliance monitoring as other partners in the HOME program. ADFA staff will review the following:
1. Certification of Eligibility from ADFA (current on top);
2. The organizational make-up of funded CHDOs to ensure eligibility;
3. Records demonstrating compliance of eligible CHDO activities, i.e.:
* Acquisition or rehabilitation of rental housing
* New construction of rental housing
* Acquisition or rehabilitation of homebuyer properties
* New construction of homebuyer properties
* Direct financial assistance to purchasers of HOME -assisted housing that has been sponsored or developed with HOME funds;
4. Records demonstrating compliance with progress reports to track whether or not funds will be committed within 24 months of HOME funding availability;
5. Records demonstrating compliance with requirements for set-aside funds, operating expenses, project-specific loans and capacity building;
6. Records demonstrating that actual expenditures have not exceeded the approved amounts and that they were used for eligible costs; and
7. Copies of minutes.
Current with amendments received through December 15, 2023. Some sections may be more current, see credit for details.
Ark. Admin. Code 109.04.6-XVII, AR ADC 109.04.6-XVII
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