99- 346 C.M.R. ch. 28, § 4

Current through 2024-51, December 18, 2024

Section 346-28-4 - Forms of Assistance

A. THAP funds used to provide assistance to eligible applicants may be made in the form of loans or grants. Sub-grantee shall use THAP funds repaid to the Sub-grantee for the purposes set forth in Section 3 of this rule.

B. Loans may be made for a period based on the applicant's ability to repay the loan, not to exceed twelve (12) months. Interest may be charged on loans based on the applicant's ability to repay the loan, not to exceed three percent (3%). When an applicant cannot repay the loan in full within the twelve (12) month period, the repayment period may be extended if the loan can be repaid during the extension period. Payment of interest or principal on any loan or portion of a loan may be deferred or waived if that payment creates an undue hardship.

C. Grants may be provided only when:

1. The grant is essential to securing a decent, safe and sanitary rental unit for the applicant;

2. The income of the applicant is insufficient to repay any loan or portion of the loan;

3. All available resource alternatives have been exhausted;

4. The applicant has satisfied any other program priorities and requirements established by the Authority.

99- 346 C.M.R. ch. 28, § 4