Md. Code Regs. 05.12.01.08

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.12.01.08 - Allocation of Funds-Generally

A. Initial Allocations. Upon receipt of a notification from HUD as to the availability and amount of HOME funding for administration by the State, the Department shall make recommendations on the amounts of HOME funds to be initially allocated to rental housing development projects, homeownership projects, and the Maryland HOME Initiatives Program Fund. The allocation recommendations shall be submitted to the Director for review and recommendation to the Secretary for approval, disapproval, or modification.

B. Reallocations. The Director may periodically reallocate HOME funds initially allocated to rental housing development projects and homeownership projects among those types of projects. Reallocations of these HOME funds shall be based upon current demand and priorities. Generally, HOME funds may not be reallocated between the HOME funds initially allocated to rental housing development projects and homeownership projects and the HOME funds initially allocated to the Maryland HOME Initiatives Program Fund until at least 8 months following the initial allocations.

C. Geographic Distribution.

(1) HOME funds shall be used primarily in jurisdictions throughout the State which are not participating jurisdictions.

(2) The State shall distribute HOME funds according to the needs identified in the Consolidated Plan. The State shall attempt to distribute HOME funds to nonmetropolitan areas, taking into account the population of the nonmetropolitan areas as compared to the total population of the State and objective measures of rural housing need. Therefore, the State shall use its best efforts to distribute at least 10 percent of HOME funds to nonmetropolitan areas.

Md. Code Regs. 05.12.01.08