(a) For all local program activities:
(1) One hundred (100) percent of funds must be expended within thirty-six (36) months of the date of the award of funds by the Department. If this goal is not met:
(A) the remaining unused funds shall be disencumbered by the Department; and
(B) if less than ninety-five (95) percent of the funds are expended at the end of the 36th month, the Recipient's next application for funding under the CalHome Program shall receive a penalty deduction in the total points awarded pursuant to the current NOFA.
(b) For homeownership development projects:
(1) the Recipient shall draw down CalHome funds or begin onsite construction within twenty-two (22) months of the award of funds by the Department. If this goal is not met the Department may disencumber all funds and cancel the Department commitment to the project; and
(2) unit construction must be completed and CalHome Program mortgage assistance loans closed within thirty-six (36) months of the award of funds by the Department. If the projected number of assisted units has not been achieved by the end of the 36th month, the Recipient's next application for funding under the CalHome Program shall receive a penalty deduction in the total points awarded pursuant to the current NOFA.
(c) For self-help technical assistance grants:
(1) the Recipient shall begin onsite construction within twelve (12) months of the award of funds by the Department. If this goal is not met the Department may disencumber all funds and cancel the Department commitment to the project; and
(2) unit construction must be completed within thirty-six (36) months of the award of funds by the Department. If this goal is not met then:
(A) the remaining unused funds may be disencumbered by the Department; and
(B) if the projected number of assisted units has not been completed by the end of the 36th month, the Recipient's next application for funding under the CalHome Program shall receive a penalty deduction in the total points awarded pursuant to Section 7751.
Credits
Note: Authority cited: Sections 50406(n) and 50650.2, Health and Safety Code. Reference: Sections 50650.2 and 50650.7, Health and Safety Code.
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, § 7755, 25 CA ADC § 7755
