Section 385.201  Grants to Administering Agencies

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

a)         To the Authority for its administrative expenses.

b)         After distributing the amount listed in subsection (a), but subject to Section 385.202, the Authority shall make Grants as follows:

1)         25% of the moneys remaining in the Foreclosure Prevention Fund that have been appropriated shall be used to make Grants to the Counseling Agencies that provide for Housing Counseling located outside the City.

2)         25% of the moneys remaining in the Foreclosure Prevention Fund that have been appropriated shall be used to make Grants to the Community-Based Organizations located outside of the City for Foreclosure Prevention Outreach Programs.

3)         25% of the moneys remaining in the Foreclosure Prevention Fund that have been appropriated shall be used to make Grants to the Community-Based Organizations located within the City for Foreclosure Prevention Outreach Programs.