TITLE 47: HOUSING AND COMMUNITY DEVELOPMENT
CHAPTER II: ILLINOIS HOUSING DEVELOPMENT AUTHORITY
PART 380 RENTAL HOUSING SUPPORT PROGRAM
SECTION 380.601 ALLOCATIONS


 

Section 380.601  Allocations

 

Agencies shall reserve at least 10% of each year's Appropriation or Fund Distribution, as applicable, for LTOS Allocations.  Agencies are not required to spend those funds in the year reserved, but may combine these funds with the reserved amounts from past or subsequent years; provided, however, that such funds must be used within three years after their Appropriation or Fund Distribution.  A Municipality may delegate its responsibilities under Subpart F to establish and administer an LTOS Program to its designated LAA.