4900.3763 Eligible Uses Of Funds


Published: 2015

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4900.3763 ELIGIBLE USES OF FUNDS.


§
A.

Funds from the housing trust fund program may be used to provide tenant-based rental assistance, sponsor-based rental assistance, or project-based rental assistance and to pay security deposits, damage claims or fees, application fees, vacancy payments, utility connection fees, and other fees necessary to obtain owner participation or to prevent repeat episodes of homelessness.


§
B.

Administrators of tenant-based rental assistance and sponsor-based rental assistance may receive administrative fees under the housing trust fund program according to part 4900.3767, subpart 6. Administrators of project-based rental assistance may not receive administrative fees under the housing trust fund program.


§
C.

At least 75 percent of funds in the housing trust fund program must be used for the benefit of persons and families whose gross incomes, at the time of initial occupancy, do not exceed 30 percent of the median family income for the metropolitan area. This median income may be adjusted for family size for families with five or more people.