Section R. 125.195 - Biennial plan; allocations; earmarks; carryoverRule 195.
(1) Pursuant to the act, the authority shall biennially develop, propose, and establish a biennial plan related to the Michigan housing and community development program. The biennial plan must be issued pursuant to the requirements of the act and all of the following: (a) The authority shall, as a part of the biennial plan, issue an allocation plan related to the disbursement of program funds.(b) The authority's biennial plan and allocation plan must contain an allocation formula related to the disbursement of program funds.(c) The following statutory earmark and lookback procedures apply to any biennial plan, allocation plan, and allocation formula: (i) Not less than 25% of the dollars used for loans or grants made in any program year must be earmarked for rental housing projects that do not qualify under preferences for special population groups, or other preferences contained in the allocation plan.(ii) Not less than 30% of the dollars used for loans or grants made in any program year must be earmarked for projects that target extremely low-income households and include housing for the homeless, supportive housing, transitional housing, or permanent housing.(iii) A portion of the fund must be expended for housing for persons with disabilities and individuals living in eligible distressed areas.(2) After the completion of any application receipt, review, selection, and approval process related to any biennial plan, allocation plan, or allocation formula in any program year, the authority shall look back and review the intended distribution of the program funds for that year and determine whether the earmark requirements in this rule and in the act will be met under the proposed distribution. If the earmark requirements are not met, and eligible applications meeting the earmark requirements have been received, accepted, and have not otherwise been approved for funding, the authority shall revise the proposed distribution to comply with the applicable earmark requirements. The revised plan shall be presented to and approved by the authority.(3) Uncommitted funds at the end of any program year must be carried over and used under the applicable biennial plan, allocation plan, and allocation formula related to any subsequent program year.Mich. Admin. Code R. 125.195
2008 AACS; 2009 AACS; 2023 MR 6, Eff. 3/21/2023