Lawriter - OAC - 122:6-1-05 Fund monitoring procedures.

122:6-1-05 Fund monitoring procedures.

(A) Each eligible applicant receiving funds from the housing trust fund shall report periodically on program and fiscal activities in the manner prescribed by the administering body.

(B) Prior to close-out of a grant, loan, loan guarantee or loan subsidy funded with housing trust fund monies, the administering body shall conduct a monitoring visit to assure that all provisions of the grant, loan, loan guarantee or loan subsidy have been met and to ensure compliance with division (H) of section 4112.02 of the Revised Code and nondiscrimination against families with children.

(C) The administering body shall determine and make public median income limits for low- and moderate income persons in each county, based on income available for housing, family size, the cost and condition of available housing, ability to pay the amounts the private market charges for decent, safe, and sanitary housing without federal subsidy or state assistance, and the income eligibility standards of federal programs.

(D) The administering body shall establish a reporting system to assure that division (D)(1) of section 174.03 of the Revised Code long-term affordability requirements are met.

(E) The administering body shall annually solicit public comment on the activities, programs, policies and administration of the housing trust fund.

(F) The administering body shall submit a report to, and be available to meet with, the housing trust fund advisory committee at least annually regarding the status of housing projects and housing programs funded with housing trust fund monies.

(G) ODSA will obtain controlling board approval prior to making any housing trust fund grant, loan, loan guarantee or loan subsidy greater than fifty thousand dollars.

Effective: 9/2/2016
Five Year Review (FYR) Dates: 06/16/2016 and 09/02/2021
Promulgated Under: 119.03
Statutory Authority: 174.03(D)
Rule Amplifies: 174.01, 174.02, 174.03 , 174.04, 174.05, 174.06, 174.07
Prior Effective Dates: 4/16/92(Emer), 6/26/92, 12/16/04, 8/16/09