§ 1272 — Access to home for heroes contracts

§ 1272. Access to home for heroes contracts. 1. Within the limit of\nfunds available in the access to home for heroes program, the\ncorporation is hereby authorized to enter into contracts with eligible\napplicants to provide financial assistance for the actual costs of an\naccess to home for heroes program. Such costs may include the costs of\nrepairs of eligible properties, provided that such repairs are related\nto the adaptation or retrofitting of such eligible properties, that such\nrepairs are related to the habitability of such eligible properties, and\nthat the access to home for heroes funds provided to cover the cost of\nsuch repairs does not exceed sixty percent of the access to home for\nheroes program grant or loan. The financial assistance shall be in the\nform of grants. No more than fifty percent of the total amount awarded\npursuant to this article in any fiscal year shall be allocated to access\nto home programs located within any single municipality.\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 shall authorize the eligible applicant to spend ten\npercent 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