District of Columbia § 42-2603 Dashboard; continuing eligibility.

District of Columbia Statutes

§ 42-2603 — Dashboard; continuing eligibility.

District of Columbia·Title 42 Real Property.·Ch. 26 Home Purchase Assistance Fund.·Subch. I General Provisions.

(a)Repealed.

(1)DHCD shall maintain and publish a Program dashboard, which shall include, at a minimum:

(A)The total Program funding available, excluding administrative costs, as of the date of updating the dashboard;

(B)The underwriting guidelines and program rules for each Program administrator;

(C)For each fiscal year, the average amount of time it takes for each Program administrator and DHCD to:

(i)Issue a notice of eligibility after receiving an application for assistance;

(ii)Issue a notice to proceed after issuing a notice of eligibility; and

(iii)Enter into a final loan agreement after issuing a notice to proceed.

(2)DHCD shall update the dashboard every 5 business days when the level of available Program funding is at $5 million

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(a) Repealed.

(1) DHCD shall maintain and publish a Program dashboard, which shall include, at a minimum:

(A) The total Program funding available, excluding administrative costs, as of the date of updating the dashboard;

(B) The underwriting guidelines and program rules for each Program administrator;

(C) For each fiscal year, the average amount of time it takes for each Program administrator and DHCD to:

(i) Issue a notice of eligibility after receiving an application for assistance;

(ii) Issue a notice to proceed after issuing a notice of eligibility; and

(iii) Enter into a final loan agreement after issuing a notice to proceed.

(2) DHCD shall update the dashboard every 5 business days when the level of available Program funding is at $5 million or above and every 2 business days when the level of available Program funding is below $5 million.

(c) Notwithstanding subsection (a) of this section:

(1) Applicants required by Program rules to receive housing counseling to receive assistance shall be permitted no less than 2 years after the completion of housing counseling to receive financial assistance from the Program;

(2) Priority in the allocation of assistance through the Fund shall be given to District of Columbia residents who are low income, elderly, displaced applicants, or residents with disabilities;

(3) The Mayor shall distribute Program funding to eligible applicants on a rolling basis upon availability of funding and shall not select applicants for funding based on a lottery or other similar randomization method;

(4) The Mayor shall not use loan-to-value ratio nor the amount of a participant's first trust mortgage on a housing unit to decide whether a participant will receive Program funding; and

(5) If Program funding is depleted before the end of the fiscal year in which an applicant receives a notice of eligibility, the notice of eligibility shall remain valid through at least the end of the next fiscal year with available funding.

District of Columbia § 42-2603 (Dashboard; continuing eligibility.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Sept. 12, 1978, D.C. Law 2-103, § 4, 25 DCR 1977; Oct. 24, 1981, D.C. Law 4-44, § 2(c), 28 DCR 4265; June 11, 1992, D.C. Law 9-118, § 8(c), 39 DCR 3189; Mar. 20, 1998, D.C. Law 12-60, § 1101, 44 DCR 7378; May 9, 2000, D.C. Law 13-96, § 9(c), 47 DCR 1081