TITLE 47: HOUSING AND COMMUNITY DEVELOPMENT
CHAPTER II: ILLINOIS HOUSING DEVELOPMENT AUTHORITY
PART 386 FORECLOSURE PREVENTION PROGRAM GRADUATED FUND
SECTION 386.306 GRANT ADMINISTRATION
Section 386.306 Grant Administration
a) Commitment. Each Counseling Agency shall enter into a Commitment with the Authority; the Grant may be less than the amount requested in the Application. The term of Commitment shall be up to one year, subject to the availability of funds from an Appropriation, and may be renewed for one additional year at the discretion of the Authority.
b) Record Retention. Each Counseling Agency shall maintain records in connection with the Grant under the Counseling Agency's Commitment for five years after the date of termination of the Commitment.
c) Monitoring. The Authority, the Auditor General and the Attorney General shall have the right to monitor all Counseling Agency books and records relating to the implementation of the Program. Each Counseling Agency shall make all records relating to its Grant available for inspection, examination and copying by the Authority, the Auditor General or the Attorney General upon reasonable prior notice, as the Authority, the Auditor General or the Attorney General may reasonably require. The required documentation may include, but is in no way limited to, a copy of the Counseling Agency's Application to the Authority; all records relating to the eligible uses of Grant funds under the Program as set forth in Section 386.302; and any other documentation required by the Authority, the Auditor General or the Attorney General.