Section 4-607 - Group home sponsorTo qualify for a Program loan, a group home sponsor shall own and operate a group home and be:
(1) a nonprofit organization;(3) a limited partnership if: (i)1. each general partner qualifies as a nonprofit organization; or2. each general partner is a wholly owned subsidiary of a nonprofit organization;(ii) the limited partnership is formed to undertake a group home project that is totally or partly eligible for a federal low income housing tax credit program or any other federal program or incentive; and(iii) a nonprofit organization manages the project or receives the net cash flow from or the residual sale proceeds on sale of the group home.