TITLE 47: HOUSING AND COMMUNITY DEVELOPMENT
CHAPTER II: ILLINOIS HOUSING DEVELOPMENT AUTHORITY
PART 390 PREDATORY LENDING DATABASE PROGRAM
SECTION 390.306 GRANT ADMINISTRATION
Section 390.306 Grant Administration
a) Commitment: Each Agency shall enter into a Commitment with the Authority; the Grant may be less than the amount requested in the Application. The term of Commitments may be up to two years, subject to the availability of funds from an Appropriation, and may be renewed if Appropriation is made available and the agency performs satisfactorily under the first Grant.
b) Record Retention: Each Agency shall maintain records in connection with administration of the Program, including all records required by the U.S. Department of Housing and Urban Development as part of its continuing compliance with requirements for Agencies. Records shall be retained for five years after the date of termination of the Commitment.
c) Agency Monitoring: The Authority shall have the right to monitor all Agency records relating to the administration of the grant by the Authority. Each Agency shall make all records relating to its Commitment available for inspection by the Authority upon the Authority's request. The required documentation may include a copy of the Agency's Application to the Authority; all records relating to training, equipment purchases, staff salaries and benefits, and other activities undertaken with Program funds; documentation of activities performed under the Program; and any other documentation required by the Authority.