TITLE 47: HOUSING AND COMMUNITY DEVELOPMENT
CHAPTER II: ILLINOIS HOUSING DEVELOPMENT AUTHORITY
PART 380 RENTAL HOUSING SUPPORT PROGRAM
SECTION 380.201 DISTRIBUTION OF APPROPRIATION FUNDS


 

Section 380.201  Distribution of Appropriation Funds

 

The Authority shall distribute funds from annual Appropriations in accordance with the following priorities:

 

a)         To the Authority for its administrative fee.

 

b)         To Municipalities.

 

1)         Each Municipality must use at least 10% of its Fund Distribution for an LTOS Program.

 

2)         Each Municipality shall distribute the balance of its Fund Distribution to its Reserve Fund and one or more designated non-profit organizations that meet the requirements for an LAA and that will serve as an LAA for the Municipality.

 

c)         To fund the Authority's Reserve Fund, as provided in Section 380.205 of this Part.

 

d)         After distributing the amounts listed in subsections (a), (b) and (c), the Authority shall use at least 10% of the remaining amount of the Appropriation for an LTOS Program, which the Authority shall allocate through a competitive Application process, as described in Subpart F, for Projects to be located outside the Municipalities.

 

e)         The balance of the Appropriation shall be distributed to Suburban Areas, Small Metropolitan Areas and Rural Areas.