§ 1202 — Access to home contracts

§ 1202. Access to home contracts. 1. Within the limit of funds\navailable in the access to home program, the corporation is hereby\nauthorized to enter into contracts with eligible applicants to provide\nfinancial assistance for the actual costs of an access to home program.\nSuch costs may include the costs of repairs of eligible properties,\nprovided that such repairs are related to the adaptation or retrofitting\nof such eligible properties, that such repairs are related to the\nhabitability of such eligible properties, and that the access to home\nfunds provided to cover the cost of such repairs does not exceed sixty\npercent of the access to home program grant or loan. The financial\nassistance shall be either in the form of grants or loans, as the\ncorporation shall determine. No more than fifty percent of the total\namount awarded pursuant to this article in any fiscal year shall be\nallocated to access to home programs located within any single\nmunicipality.\n 2. The total payment pursuant to any one contract shall not exceed\nfive hundred thousand dollars and the contract shall provide for\ncompletion of the program within a reasonable period, as specified\ntherein, which shall not in any event exceed three years from its\ncommencement. Upon request, the corporation may extend the term of the\ncontract for up to two additional one year periods for good cause shown\nby the eligible applicant.\n 3. The corporation may authorize the eligible applicant to spend up to\nten percent of the contract amount for approved administrative costs\nassociated with administering the program.\n 4. The corporation shall require that, in order to receive funds\npursuant to this article, the eligible applicant shall submit a plan\nwhich shall include, but not be limited to, program feasibility, impact\non the community, budget for expenditure of program funds, a schedule\nfor completion of the program, affirmative action and minority business\nparticipation.\n