Statutes, codes, and regulations
California Code Of Regulations
Title 25 - Housing and Community DevelopmentDivision 1 - Housing and Community DevelopmentChapter 7 - Department of Housing and Community Development ProgramsSubchapter 2 - State Community Development Block Grant Program
Article 4 - Grant Administration
Section 7124 - Lump Sum Drawdown for Property Rehabilitation Financing

Cal. Code Regs. tit. 25 § 7124

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Current through Register 2024 Notice Reg. No. 50, December 13, 2024
Section 7124 - Lump Sum Drawdown for Property Rehabilitation Financing

Subject to the conditions prescribed in this section, grantees may draw funds from the Department in a single lump sum to establish a rehabilitation fund in one or more private financial institutions for the purpose of financing the rehabilitation of privately-owned properties as a part of the grantee's program.

The conditions prescribed for lump sum drawndown accounts are described in 24 CFR 570, Section 570.513.

Cal. Code Regs. Tit. 25, § 7124

1. Amendment filed 2-22-85; effective upon filing pursuant to Government Code Section 11346.2(d) (Register 85, No. 9).
2. New second paragraph, repealer of subsections (a)-(j) and amendment of NOTE filed 7-31-96; operative 7-31-96 pursuant to Government Code section 11343.4(d) (Register 96, No. 31).

Note: Authority cited: Sections 50406(h) and 50406(n), Health and Safety Code. Reference: 24 CFR 570.513.

1. Amendment filed 2-22-85; effective upon filing pursuant to Government Code Section 11346.2(d) (Register 85, No. 9).
2. New second paragraph, repealer of subsections (a)-(j) and amendment of Notefiled 7-31-96; operative 7-31-96 pursuant to Government Code section 11343.4(d) (Register 96, No. 31).