Home Table of Contents

§ 7753. Disbursement of Grant and Loan Funds.

25 CA ADC § 7753Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 25. Housing and Community Development
Division 1. Housing and Community Development
Chapter 7. Department of Housing and Community Development Programs
Subchapter 9. Calhome Program Requirements
Article 10. Program Operations
25 CCR § 7753
§ 7753. Disbursement of Grant and Loan Funds.
Currentness
(a) CalHome Program funds shall be disbursed on an advance basis. Details of the process for advance disbursements will be published in the current NOFA, and shall be included in all Standard Agreements. Advances may include, but are not limited to:
(1) homeownership project development loan disbursements;
(2) advances of up to 25% of the award for self-help and shared housing technical assistance;
(3) advances for Owner-Occupied Rehabilitation programs up to the amount of the Recipient's anticipated volume of closed loans for the following sixty days; or
(4) advances to escrow for mortgage assistance loans.

Credits

Note: Authority cited: Sections 50406(n) and 50650.2, Health and Safety Code. Reference: Sections 50650.2, 50650.3(b), 50650.4 and 50650.7, Health and Safety Code.
History
1. New section filed 9-29-2003; operative 9-29-2003 pursuant to Government Code section 11343.4 (Register 2003, No. 40).
This database is current through 6/21/24 Register 2024, No. 25.
Cal. Admin. Code tit. 25, § 7753, 25 CA ADC § 7753
End of Document