TITLE 47: HOUSING AND COMMUNITY DEVELOPMENT
CHAPTER II: ILLINOIS HOUSING DEVELOPMENT AUTHORITY
PART 380 RENTAL HOUSING SUPPORT PROGRAM
SECTION 380.615 RECONCILIATIONS


 

Section 380.615  Reconciliations

 

Each Developer shall, every six months during the term of its Commitment, perform a Reconciliation and, if the Reconciliation indicates that the Developer has received funds in excess of the amount required for Rental Assistance payments, the Developer shall return all excess funds to its funding Agency.  The funding Agency may reduce the amount of subsequent quarterly payments to the Developer under the Commitment to offset Reconciliation amounts owing to, but not forwarded to, the Agency.