Ill. Admin. Code tit. 47, § 385.202 - Distribution of Funds to the City of Chicago
After distributing the amount listed in Section 385.201(a) of this Part, the Authority shall distribute 25% of the moneys remaining in the Foreclosure Prevention Fund that have been appropriated to the City.
a) City Administrative Expenses. The City
shall be entitled to deduct from each distribution from the Authority, prior to
making any Grants to the Counseling Agencies or support of foreclosure
prevention programs administered by the City, an amount not to exceed 8% of the
distribution from the Authority for General Operational Expenses, Computer and
Equipment Expenses, and Technical Assistance associated with the administration
of the Program, including, without limitation, expenses for staff salaries and
benefits for time spent on design and administration of the Program; expenses
incurred in performing outreach activities and providing technical assistance
to the Counseling Agencies; the use of the City's equipment for Program
purposes; the cost of office space and utilities incurred in connection with
the Program; and any other expenses incurred in the administration of the
Program. The City shall maintain a detailed accounting of its administrative
expenses, which shall be available to the public for review.
b) Eligible City Activities. Eligible
activities by the City under the Program are as follows:
1) making Grants to the Counseling Agencies
located within the City for Housing Counseling; and
2) supporting, subject to Section
385.303(b),
foreclosure prevention counseling programs administered by the City.
Notes
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