Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Repealed.
(b)(1) DHCD shall maintain and publish a Program dashboard, which shall include, at a minimum:
(A) The total Program funding available, excluding administrative costs, as of the date of updating the dashboard;
(B) The underwriting guidelines and program rules for each Program administrator;
(C) For each fiscal year, the average amount of time it takes for each Program administrator and DHCD to:
(i) Issue a notice of eligibility after receiving an application for assistance;
(ii) Issue a notice to proceed after issuing a notice of eligibility; and
(iii) Enter into a final loan agreement after issuing a notice to proceed.
(2) DHCD shall update the dashboard every 5 business days when the level of available Program funding is at $5 million or above and every 2 business days when the level of available Program funding is below $5 million.
(c) Notwithstanding subsection (a) of this section:
(1) Applicants required by Program rules to receive housing counseling to receive assistance shall be permitted no less than 2 years after the completion of housing counseling to receive financial assistance from the Program;
(2) Priority in the allocation of assistance through the Fund shall be given to District of Columbia residents who are low income, elderly, displaced applicants, or residents with disabilities;
(3) The Mayor shall distribute Program funding to eligible applicants on a rolling basis upon availability of funding and shall not select applicants for funding based on a lottery or other similar randomization method;
(4) The Mayor shall not use loan-to-value ratio nor the amount of a participant's first trust mortgage on a housing unit to decide whether a participant will receive Program funding; and
(5) If Program funding is depleted before the end of the fiscal year in which an applicant receives a notice of eligibility, the notice of eligibility shall remain valid through at least the end of the next fiscal year with available funding.
Cite this article: FindLaw.com - District of Columbia Code Division VII. Property. § 42-2603. Dashboard; continuing eligibility. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-vii-property/dc-code-sect-42-2603/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)