The Commissioner shall, from time to time, receive applications from CHDC's for state assistance in the form of grants and loans for the purposes described in Sections 8-218a and 8-218b of the Connecticut General Statutes. The application shall include evidence that the CHDC has financial resources from the private sector equal to or greater than the amount of the proposed loan or grant for the purpose of making low interest loans, loan guarantees or interest subsidies for the construction or rehabilitation of dwelling units for low and moderate income persons.
Conn. Agencies Regs. § 8-218c-2