Code of Maryland Regulations
Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Subtitle 12 - FEDERAL HOUSING PROGRAMS
Chapter 05.12.01 - Maryland HOME Program
Section 05.12.01.08 - Allocation of Funds-Generally
Current through Register Vol. 51, No. 6, March 22, 2024
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.