Conn. Agencies Regs. § 8-119g-11 - Fiscal policy

Current through March 4, 2022

(a) Costs during development phase:
(1) Financial Assistance: The Commissioner may enter into a contract with a housing authority, a community housing development corporation as defined in Section 8-217 of the General Statutes or other corporations approved by the Commissioner on Aging for State financial assistance for a Congregate housing project for elderly persons in the form of a capital grant for application to the development cost of the project, or in the form of a loan rather than a capital grant where the funding from an agency of the U.S. Government is available to repay the loan.
(2) Payments: The Commissioner, in accordance with such contract, may make temporary advances to such authority or such community housing development corporation or other corporation approved by the Commissioner on Aging for preliminary planning expense or other development cost of project or projects.
(3) Reporting: The housing authority, community housing development corporation or other corporations approved by the Commissioner on Aging, as the case may be, are required to submit quarterly schedules of development costs upon receipt of first advance of funds from the State. A development Fund Release Sheet is also required on a quarterly basis.
(b)Costs during management phase:
(1) Financial Assistance: The Commissioner may enter into an annual contract to provide a subsidy for the cost of Congregate Services for the eligible tenants of the Congregate Facility.
(2) Payments: The Commissioner, in accordance with such contract, may make payments to such developers who are required to submit quarterly financial statements to verify the need for the subsidy payment. Such payments shall not exceed the total cost of the program or the total amount of the annual grant.
(3) Reporting: The developer is required to submit quarterly financial statements and annual Management Plans and other reports as required by the Commissioner.

Notes

Conn. Agencies Regs. § 8-119g-11
Effective June 19, 1985

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