reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 300 - HOMEOWNERSHIP MORTGAGE LOAN PROGRAM › Subpart D - PURCHASE AND SALE OF MORTGAGE-BACKED SECURITIES › Section 300.404 - Prepayments

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority shall apply any Prepayments it receives with
				  respect to a Mortgage-Backed Security as follows:
a) to the extent the Mortgage-Backed Security
				was originally purchased from Authority funds for any lawful Authority
				purposes, including, without limitation, providing further assisted mortgage
				financing or refinancing of Mortgage Loans for Low and Moderate Income Persons
				under the Program; and
b) to the
				extent the Mortgage-Backed Security was originally purchased as a temporary
				investment of funds held by a trustee under a resolution or indenture of the
				Authority pursuant to which Bonds have been issued, as provided in the
				resolution or indenture.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 300 - HOMEOWNERSHIP MORTGAGE LOAN PROGRAM › Subpart E - ADMINISTRATIVE RULES › Section 300.501 - Restrictions on Compensation of Lenders

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority shall, by resolution of the Members adopted
				  from time to time, establish the maximum compensation that may be realized by
				  any Lender and by any agent of any Lender from Mortgage Loans, including any
				  fees, premiums, bonuses and points charged by the Lender or the Lender's agent
				  in connection with the making of Mortgage Loans. The maximum compensation shall
				  be set at such amounts as the Authority finds reasonably necessary to induce
				  participation in the Programs by Lenders in order to accomplish the purposes of
				  the Act or, to the extent applicable, to ensure compliance with arbitrage and
				  income limitations of section 143 of the Code.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 300 - HOMEOWNERSHIP MORTGAGE LOAN PROGRAM › Subpart E - ADMINISTRATIVE RULES › Section 300.502 - Servicing of Mortgage Loans

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority shall cause all Mortgage Loans purchased by the
				  Authority or its designee to be serviced by a Servicer pursuant to the
				  Servicing Agreement.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 300 - HOMEOWNERSHIP MORTGAGE LOAN PROGRAM › Subpart E - ADMINISTRATIVE RULES › Section 300.503 - Equal Opportunity Lending

Current through Register Vol. 48, No. 28, July 12, 2024
In making Mortgage Loans, the Lender shall not deny a
				  Mortgage Loan to any person or persons or discriminate against the person or
				  persons in fixing the amount, interest rate, duration, or other terms and
				  conditions of the loans on account of race, color, religion, age, sex, marital
				  status, family status, handicap, ancestry, national origin or unfavorable
				  military discharge. The Lender shall be subject to all State and federal
				  requirements with respect to non-discrimination in lending including, without
				  limitation, Title VI of the U.S. Civil Rights Act of 1964 ( 42 USC 2000 et
				  seq.), Title VIII of the U.S. Civil Rights Act of 1968 (
				  42
				  USC 3604 et seq.), as amended by the Housing
				  and Community Development Act of 1974 (
				  42 USC
				  5301 et seq.), the Equal Credit Opportunity
				  Act (
				  15 USC 1691
				  -
				  1691 F ),
				  the Fair Credit Reporting Act (
				  15 USC
				  1681 -
				  1681
				  t ), the Fair Housing Act ( 42 USC 3601-20 ), the Illinois Human Rights Act
				  [775 ILCS 5 ] and Section 13 of the Act.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 300 - HOMEOWNERSHIP MORTGAGE LOAN PROGRAM › Subpart E - ADMINISTRATIVE RULES › Section 300.504 - Inspection of Books and Records

Current through Register Vol. 48, No. 28, July 12, 2024
Upon prior written notice, the Authority may inspect, examine
				  and copy the books and records of each Lender for the purpose of determining
				  compliance with the Act and all contracts and agreements between the Authority
				  and the Lender relating to the Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 300 - HOMEOWNERSHIP MORTGAGE LOAN PROGRAM › Subpart E - ADMINISTRATIVE RULES › Section 300.505 - Termination

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority or designee shall retain the right to terminate
				  its obligation to purchase Mortgage Loans under the Program, subject to
				  applicable State law and to its existing contractual obligations, including
				  contractual obligations arising under a Lender Application, a Notice of
				  Reservation of Funds, a Notice of Acceptance, a Mortgage Purchase Agreement, or
				  a Servicing Agreement.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.101 - Authority

Current through Register Vol. 48, No. 28, July 12, 2024
This Part implements Section 3206 [Homeowner Assistance Fund]
				  of the American Rescue Plan Act of 2021,
				  Pub. L.
				  117-2 enacted in March 2021 and is authorized by
				  Section 7.19 of the Illinois Housing Development Act [20 ILCS
				  3805/7.19 ].
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.102 - Purpose and Objectives

Current through Register Vol. 48, No. 28, July 12, 2024
The purpose of the Homeowner Assistance Fund programs is to
				  use moneys to provide assistance to eligible homeowners to mitigate financial
				  hardships associated with the COVID-19 pandemic by preventing homeowner
				  mortgage delinquencies, defaults, foreclosures, loss of utilities or home
				  energy services, and displacement; and to provide housing stability
				  services.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.104 - Compliance with Federal and State Law

Current through Register Vol. 48, No. 28, July 12, 2024
Notwithstanding anything in this Part to the contrary, this
				  Part shall be construed in conformity and compliance with applicable law,
				  including but not limited to the Uniform Guidance.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.105 - Applications, Forms and Procedures

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Authority may prepare, use, prescribe,
				supplement and amend forms, including application forms as may be necessary to
				implement any HAF program.
b) The
				Authority may accept applications for any HAF program in one or more rounds of
				funding.
c) Nothing in this Part
				shall be construed as precluding the Authority from capping or setting a limit
				on the amount of HAF program payments made on behalf of any single Eligible
				Homeowner.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.107 - Authority Administrative Expenses

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority is entitled to administrative expenses incurred
				  with respect to the administration of HAF funds. An amount not to exceed 15
				  percent of the total HAF allocation to the Authority may be used for
				  administrative costs attributable to providing financial assistance and housing
				  stability services to Eligible Homeowners.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.108 - Amendment

Current through Register Vol. 48, No. 28, July 12, 2024
This Part may be supplemented, amended or repealed by the
				  Authority from time to time and in a manner consistent with the Illinois
				  Administrative Procedure Act [5 ILCS 100 ], this Part and other applicable
				  laws. This Part does not constitute or create any contractual
				  rights.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.109 - Severability

Current through Register Vol. 48, No. 28, July 12, 2024
If any clause, sentence, paragraph, subsection, Section or
				  Subpart of this Part is adjudged by any court of competent jurisdiction to be
				  invalid, that judgment shall not affect, impair or invalidate the remainder of
				  this Part, but shall be confined in its operation to the clause, sentence,
				  paragraph, subsection, Section or Subpart to which the judgment is
				  rendered.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.110 - Non-Discrimination

Current through Register Vol. 48, No. 28, July 12, 2024
a) Unless necessary
				to comply with applicable federal or State law, the Authority shall not require
				any type of documentation relating to any household member's immigration
				status.
b) Eligible Homeowners,
				Eligible Servicers and HSS Providers shall comply with the applicable
				provisions of the Illinois Human Rights Act [775 ILCS 5 ] and the regulations
				promulgated under that Act, the federal Fair Housing Act (42 U.S.C.
				3601) , Section 504 of the Rehabilitation Act
				of 1973 (29 U.S.C.
				794) , the Illinois Environmental Barriers
				Act [410 ILCS 25 ], the Illinois Accessibility Code (71 Ill. Adm. Code 400),
				and all other applicable State and federal law concerning discrimination and
				fair housing.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.111 - Record Retention

Current through Register Vol. 48, No. 28, July 12, 2024
Eligible Homeowners, Eligible Servicers and HSS Providers
				  shall maintain copies of any records in their possession in connection with HAF
				  for at least five years from the date of the grant.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.112 - Monitoring

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority has the right to monitor all records of
				  Eligible Homeowners, Eligible Servicers and HSS Providers relating to an award
				  of funds under any HAF Program. Eligible Homeowners, Eligible Servicers and HSS
				  Providers shall make all records relating to any HAF program available for
				  inspection by the Authority upon the Authority's request.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.113 - Federal Legislation

Current through Register Vol. 48, No. 28, July 12, 2024
Notwithstanding anything in this Part to the contrary, this
				  Part shall be construed in conformity and compliance with the American Rescue
				  Plan Act. To the extent that this Part conflicts with federal law, federal law
				  shall control and prevail.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.114 - GATU

Current through Register Vol. 48, No. 28, July 12, 2024
Unless different provisions are required by law or an
				  exception is granted by GATU:
a) HAF
				payments are considered to be federal financial assistance subject to the
				Single Audit Act (31 U.S.C. 7501-7507) and the related provisions of the
				Uniform Guidance,
				2 CFR 200.303
				regarding internal controls,
				200.330
				through 200.332 regarding subrecipient monitoring and management, and subpart F
				regarding audit requirements.
b)
				HAF payments are subject to the following requirements in the Uniform Guidance
				(2 CFR 200) :
				2 CFR 200.303
				regarding internal controls,
				2 CFR
				200.330 through
				200.332
				regarding subrecipient monitoring and management, and subpart F regarding audit
				requirements.
c) The CFDA number
				assigned to the HAF is 21.027.
d)
				HAF payments to subrecipients, including HSS Providers, count toward the
				threshold of the Single Audit Act and 2 CFR 200, subpart F re: audit
				requirements. Subrecipients are subject to a single audit or program specific
				audit pursuant to
				2 CFR
				200.501(a) when the
				subrecipients spend $750,000 or more in federal awards during their fiscal
				year.
e) Amounts paid from the HAF
				are subject to the restrictions outlined in the Guidance and set forth in the
				American Rescue Plan Act.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.115 - Accessibility and Transparency

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				The Authority shall make publicly accessible by publishing on its website any
				important information, including, but not limited to, the following:
1) application forms;
2) the program eligibility requirements as
				set out in Section
				302.201;
3) the Authority's procedures and processes
				for administering the applicable program as set out in Section
				302.204;
4) the Authority's procedures and
				communication methods for notifying program applicants of defective or
				deficient applications due to incompletion, errors, missing information, or any
				other impediment as set out in Section
				302.205; and
5) the Authority's procedures and methods for
				applicants to remedy defective or deficient applications due to incompletion,
				errors, missing information, or any other impediment as set out in Section
				302.205.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.116 - Required Notifications and Correspondence

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority shall ensure it communicates clearly with an
				  applicant about the application determination process, including acceptance,
				  status of a pending application, and any reason for denying an
				  application.
a) The Authority shall
				provide notice to an applicant upon finding that a submitted application is
				defective or should otherwise be considered ineligible, denied, or
				rejected.
b) The notice from the
				Authority shall explain the reason why an applicant's submitted application is
				defective or should otherwise be considered ineligible, denied, or
				rejected.
c) The notice shall
				contain the necessary information, process, accepted method, and deadline for
				the applicant to remedy any defective or deficient application as set out in
				Section
				302.205, provided that
				remedy is possible.
d) All notice
				and correspondence required to be provided by the Authority shall be given
				promptly and without unnecessary delay to any applicant.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart A - GENERAL RULES › Section 302.117 - Recapture

Current through Register Vol. 48, No. 28, July 12, 2024
HAF Grants, including HSS grants, are subject to recapture in
				  the event of default, such as fraud on behalf of an Eligible Homeowner,
				  Eligible Servicer or HSS Provider, failure to comply with this Part or any
				  other applicable law or regulation.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart B - BORROWER ELIGIBILITY REQUIREMENTS › Section 302.201 - Borrower Eligibility/Prioritization

Current through Register Vol. 48, No. 28, July 12, 2024
a) To be eligible for assistance under HAF
				program, Eligible Homeowners must have annual income equal to or less than 150%
				of the Area Median Income. The Authority plans to use HUD's definition of
				"annual income" in
				24
				CFR 5.609 or use adjusted gross income as
				defined for purposes of reporting on Internal Revenue Service (IRS) Form 1040
				series for individual federal annual income tax purposes, as applicable and as
				permitted by the U.S. Department of the Treasury.
b) Not less than 60% of HAF funds available
				to the Authority will be used for qualified expenses that assist Eligible
				Homeowners having incomes equal to or less than 100% of the Area Median Income
				or equal to or less than 100% of the median income for the United States,
				whichever is greater. Any amount not made available to Eligible Homeowners that
				meet this income-targeting requirement must be prioritized for assistance to
				Socially Disadvantaged individuals, with funds remaining after such
				prioritization being made available for other Eligible Homeowners.
c) For an applicant to be eligible to receive
				a HAF Grant, the Homeowner must qualify as an Eligible Homeowner.
d) The Authority shall not disqualify an
				otherwise Eligible Homeowner from any HAF Program funding based on previous
				application for or receipt of other similar federal assistance for periods that
				are different than the Eligibility Period.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart B - BORROWER ELIGIBILITY REQUIREMENTS › Section 302.202 - Eligible Uses

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority will establish a system that provides
				  assistance to Eligible Homeowners that may include any or all of the following
				  Eligible Uses:
a) mortgage payment
				assistance;
b) financial assistance
				to allow a homeowner to reinstate a mortgage or to pay other housing-related
				costs related to a period of forbearance, delinquency, or default;
c) mortgage principal reduction, including
				with respect to a second mortgage provided by a nonprofit or government
				entity;
d) facilitating mortgage
				interest rate reductions;
e)
				payment assistance for:
1) homeowner's
				utilities, including electric, gas, home energy (including firewood and home
				heating oil), water, and wastewater;
2) homeowner's internet service, including
				broadband internet access service;
3) homeowner's insurance, flood insurance,
				and mortgage insurance;
4)
				homeowner's association fees or liens, condominium association fees, or common
				charges, and similar costs payable under a unit occupancy agreement by a
				resident member/shareholder in a cooperative housing development; and
5) down payment assistance loans provided by
				nonprofit or government entities;
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart B - BORROWER ELIGIBILITY REQUIREMENTS › Section 302.203 - Maximum Grant Amount

Current through Register Vol. 48, No. 28, July 12, 2024
Disbursements to Eligible Servicers may include up to three
				  prospective monthly payments if funds are available and the total funding
				  amount does not exceed Maximum Grant Amount.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart B - BORROWER ELIGIBILITY REQUIREMENTS › Section 302.204 - Administration of Program

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority will establish procedures to administer the HAF
				  program, including application process and review that will include the
				  following:
a) applications will be
				taken via an online application platform; processing staff will review files
				for program eligibility through applicant attestations, applicant provided
				documents and servicer provided mortgage information;
b) application controls and due diligence
				will include:
1) verification of applicant
				attestations, review of application documentation to ensure eligibility,
				verification of data provided by Servicers and approval, denial or escalation
				of application files as appropriate; and
2) review of application records and uploaded
				documents to validate compliance with the Authority's procedures (as identified
				in this Part); and
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart B - BORROWER ELIGIBILITY REQUIREMENTS › Section 302.205 - Procedures for Deficient Applications

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority will establish procedures to notify Applicants
				  who submit defective or deficient applications that will include the
				  following:
a) Applicants will be
				notified via email of any information needed to complete an application or
				remedy a deficiency in their application;
b) Applicants will be provided an initial
				cure period of 14 days and, if necessary, a second cure period of an additional
				7 days;
c) After being notified of
				a deficiency, Applicants will be able to go back into the online application
				portal to provide any missing information; and
d) Upon final determination of approval or
				denial, Applicants will be notified via email.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart C - SERVICER REQUIREMENTS › Section 302.301 - Foreclosure Moratorium

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Prior to receiving HAF Grants on behalf of an Eligible Homeowner, Eligible
				Servicers must agree they will forgo any right to commence or continue a
				foreclosure action, or other similar legal action, including but not limited to
				breach of contract, against an Eligible Homeowner, for non-payment of mortgage
				or other eligible fees, during the longer of:
1) the Eligible Homeowner's program
				Eligibility Period; or
2) the date
				of any foreclosure moratorium established by State or federal law.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart C - SERVICER REQUIREMENTS › Section 302.302 - Distribution of Grants

Current through Register Vol. 48, No. 28, July 12, 2024
a) HAF
				Grants made by the Authority may cover all or any portion of the Eligibility
				Period.
b) When making HAF Grant
				payments to an Eligible Servicer on behalf of an Eligible Homeowner, the
				Authority must include a statement indicating which Eligible Homeowner the
				grant payment is being made on behalf of.
c) The Authority shall make reasonable
				efforts to obtain the cooperation of Eligible Servicers to accept HAF
				payments.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart D - HOUSING STABILITY SERVICES PROVIDERS › Section 302.401 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
Subject to the terms of the agreement executed by the HSS
				  Provider and the Authority, HSS Sub-Awards allocated to an HSS Provider are for
				  the provision of HSS outreach and intake services, as described in this Part,
				  and the purchase of HSS equipment.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart D - HOUSING STABILITY SERVICES PROVIDERS › Section 302.402 - Request for Proposals/Applications

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority may issue one or more requests for proposals
				  for applications for an HSS Sub-Award from prospective HSS
				  Providers.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart D - HOUSING STABILITY SERVICES PROVIDERS › Section 302.403 - HSS Provider Eligibility

Current through Register Vol. 48, No. 28, July 12, 2024
HSS Providers may be HUD approved counseling agencies,
				  community or faith-based organizations, non-profit organizations, including
				  legal assistance groups, and such other community organizations that specialize
				  in housing or community outreach and engagement.
and such other organizations to the extent permitted by
				  applicable law.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart D - HOUSING STABILITY SERVICES PROVIDERS › Section 302.404 - Eligible Uses of an HSS Sub-Award

Current through Register Vol. 48, No. 28, July 12, 2024
Funds from an HSS Sub-Award may be used for the
				  following:
a) HSS Marketing and
				Outreach;
b) HSS Education and
				Intake; or
c) HSS
				Equipment.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart D - HOUSING STABILITY SERVICES PROVIDERS › Section 302.405 - Application Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
Each application for an HSS Sub-Award shall include the
				  information required by the Authority to promote efficient program
				  administration and quality of performance
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 302 - HOMEOWNER ASSISTANCE FUND PROGRAMS › Subpart D - HOUSING STABILITY SERVICES PROVIDERS › Section 302.406 - Distribution of HSS Provider Sub-Awards

Current through Register Vol. 48, No. 28, July 12, 2024
Once approved for an HSS Sub-Award, HSS Providers will be
				  eligible to receive an initial disbursement in an amount established by the
				  Authority. An accounting of expenses will be required to demonstrate use of the
				  HSS Sub-Awards provided in the initial disbursement. Additional HSS Sub-Awards
				  disbursements will be made pursuant to the submission and approval of one or
				  more reports required for compliance with Federal and State legislation and
				  regulations, including without limitation the Uniform Guidance and any further
				  Guidance.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart A - GENERAL RULES › Section 310.101 - Authority

Current through Register Vol. 48, No. 28, July 12, 2024
The Rules in this Part are authorized by and made pursuant to
				  Sections 7.2, 7.19, 7.24 b, 7.24e, 8, 9, 10, 11, 12 and 14 of the Act and shall
				  govern the Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart A - GENERAL RULES › Section 310.102 - Purpose and Objectives

Current through Register Vol. 48, No. 28, July 12, 2024
The Rules in this Part are established to accomplish the
				  general purposes of the Act and in particular the making of Mortgage Loans for
				  the construction or rehabilitation of multifamily rental housing in accordance
				  with the Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart A - GENERAL RULES › Section 310.104 - Borrowing by the Authority

Current through Register Vol. 48, No. 28, July 12, 2024
To the extent allowed by applicable federal law and the Act,
				  the Authority may borrow funds with which to make Mortgage Loans under the
				  Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart A - GENERAL RULES › Section 310.105 - Compliance with Federal Law

Current through Register Vol. 48, No. 28, July 12, 2024
Notwithstanding anything herein to the contrary, this Part
				  shall be construed in conformity and compliance with applicable federal law,
				  including, without limitation, the Code and the federal regulations governing
				  the HOME Program and Risk Sharing Loans.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart A - GENERAL RULES › Section 310.106 - Standards

Current through Register Vol. 48, No. 28, July 12, 2024
In administering the Program, the Authority, the Chairman,
				  the Director, and the Staff shall in the exercise of discretion consider, in
				  addition to the criteria specifically set forth in this Part, the purposes of
				  the Program to provide decent, safe, and sanitary multifamily rental housing;
				  the requirements of applicable State and federal law; the financial condition
				  and previous experience of potential and participating developers; the
				  Authority's ability to purchase or redeem any Bonds and to comply with the
				  requirements of the resolutions authorizing any Bonds; the Authority's ability
				  to comply with the terms and provisions of any Notes; the financial integrity
				  of the Program; the housing needs of the State; architectural and construction
				  quality; the preservation of the value of the Development as security for a
				  Mortgage Loan; the ability of the Owner to repay a Mortgage Loan out of gross
				  Development income; the potential prepayment of a Mortgage Loan; the
				  desirability of achieving a reasonable geographic distribution of Developments
				  throughout the State; the standards and practices of a prudent lender; the
				  requirements of local housing codes and zoning laws; specific standards set
				  forth in Authority agreements and documents; or any other factors relevant
				  under the circumstances.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart A - GENERAL RULES › Section 310.107 - Forms and Procedures for the Program

Current through Register Vol. 48, No. 28, July 12, 2024
The staff may prepare, use, supplement and amend such forms,
				  agreements and other documents and such procedures as may be necessary to
				  implement the Program, all as may be prescribed by the
				  Director.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart A - GENERAL RULES › Section 310.108 - Fees and Charges of the Authority

Current through Register Vol. 48, No. 28, July 12, 2024
In connection with the Program, the Authority may establish
				  and collect such fees and charges as may be necessary. Such fees and charges
				  may be used by the Authority for its general corporate purposes, including
				  costs of administering the Program.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart A - GENERAL RULES › Section 310.110 - Amendment

Current through Register Vol. 48, No. 28, July 12, 2024
This Part may be supplemented, amended or repealed by the
				  Members from time to time and in such manner as they may determine consistent
				  with the Rules, the Act and other applicable provisions of law. This Part shall
				  not constitute or create any contractual rights.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart A - GENERAL RULES › Section 310.111 - Severability

Current through Register Vol. 48, No. 28, July 12, 2024
If any clause, sentence, paragraph, subsection, Section, or
				  Subpart of this Part be adjudged by any court of competent jurisdiction to be
				  invalid, such judgment shall not affect, impair or invalidate the remainder
				  thereof, but shall be confined in its operation to the clause, sentence,
				  paragraph, subsection, Section or Subpart thereof as to which such judgement is
				  rendered.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart A - GENERAL RULES › Section 310.112 - Gender and Number

Current through Register Vol. 48, No. 28, July 12, 2024
All terms used in any one gender or number shall be construed
				  to include any other gender or number as the context may
				  require.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart A - GENERAL RULES › Section 310.113 - Titles and Captions

Current through Register Vol. 48, No. 28, July 12, 2024
Titles and captions of Subparts, Sections and subsections are
				  used for convenience and reference and are not a part of the
				  text.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart A - GENERAL RULES › Section 310.114 - Calendar Days

Current through Register Vol. 48, No. 28, July 12, 2024
Days shall mean calendar days. Days falling on a Saturday,
				  Sunday or legal State or federal holiday shall be deemed to fall on the next
				  calendar day that is not Saturday, Sunday or a legal State or federal
				  holiday.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart B - NOTICE OF PROPOSED DEVELOPMENTS › Section 310.201 - Applicability and Purpose of Notification

Current through Register Vol. 48, No. 28, July 12, 2024
a) Purpose
This Subpart is established to provide for notification to
				  certain persons and agencies pursuant to Section 7.24 b of the Act that a
				  developer proposes to construct or rehabilitate a Development in their
				  district, county or municipality.
b) Compliance
A developer's Application shall not be deemed to be complete
				  until the provisions of this Subpart have been complied with. A developer's
				  failure to comply with the provisions of this Subpart shall relieve the
				  Authority of all obligations to provide a Mortgage Loan for the proposed
				  Development.
c) Developer's
				Acts
In responding to comments, attending hearings, or undertaking
				  any other activities pursuant to this Subpart, a developer shall not hold
				  itself out to represent the Authority and shall not take or suffer any act that
				  would incur any obligation on behalf of the Authority.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart B - NOTICE OF PROPOSED DEVELOPMENTS › Section 310.202 - Notification by Authority

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Notice of Development
When the Authority accepts an Application for a Mortgage Loan
				  for a proposed Development, the Authority shall give written notice of the
				  proposed Development to the following persons and agencies:
1) the chairman of the county board of the
				county in which the Development is proposed to be located;
2) the mayor or other chief executive of the
				municipality (means cities, villages and incorporated towns), if any, in which
				the Development is proposed to be located;
3) in municipalities with a population of
				more than 1,500,000 persons, the alderman of the ward in which the Development
				is proposed to be located;
4)
				appropriate Clearinghouses; and
5)
				each member of the General Assembly from the legislative district in which the
				Development is proposed to be located.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart B - NOTICE OF PROPOSED DEVELOPMENTS › Section 310.203 - Comments and Responses

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Comments
The persons and agencies receiving notice of a proposed
				  Development pursuant to Section
				  310.202
				  shall have 30 days from the date of mailing of the notice to submit written
				  comments to the developer or the Authority.
b) Developer's Response
The developer shall respond in writing to all comments in
				  connection with the proposed Development received under this
				  Section.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart B - NOTICE OF PROPOSED DEVELOPMENTS › Section 310.204 - Submissions to the Authority

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Documents
The developer shall submit to the Authority the following
				  documents in connection with the proposed Development:
1) a copy of every written comment and a
				written summary of every oral comment received pursuant to Section
				310.203(a);
2) a copy of every response made pursuant to
				Section
				310.203(b);
3) a history of conferences, hearings and
				other activities undertaken in relation to comments on the proposed
				Development;
4) a brief summary of
				what the developer has done in response to comments; and
5) a certification that the information
				provided under this Section is accurate and complete.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart B - NOTICE OF PROPOSED DEVELOPMENTS › Section 310.205 - Hearings

Current through Register Vol. 48, No. 28, July 12, 2024
The developer shall provide written notice to the Authority
				  of any public or adjudicatory hearing that may be held in connection with the
				  proposed Development. The developer shall mail the notice to the Authority
				  within 2 days after receiving notice or otherwise becoming aware of the
				  hearing. It shall be the developer's responsibility to prepare for and attend
				  the hearings and to respond to any inquiry made at or in connection with the
				  hearings regarding the proposed Development.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart C - OWNER › Section 310.301 - Eligible Mortgagors

Current through Register Vol. 48, No. 28, July 12, 2024
The Authority may make Mortgage Loans under the Program to
				  Eligible Mortgagors. The Owner of the Development shall at all times be an
				  Eligible Mortgagor. If the Authority learns that an Owner is not an Eligible
				  Mortgagor, then the Authority shall take the action, if any, specified in the
				  Mortgage Loan documents.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart C - OWNER › Section 310.302 - Land Trusts

Current through Register Vol. 48, No. 28, July 12, 2024
Whenever Real Estate or a Development is held in an Illinois
				  land trust, the agreement creating the Trust and establishing the respective
				  rights, powers, and duties of the Trustee and Owner shall be in a format
				  approved by the Authority. The format shall be approved if it meets the legal
				  requirement necessary to create a valid Illinois land trust. Any trust
				  agreement shall not be amended or revoked without the prior written approval of
				  the Authority. Upon either the request of the Owner or the Authority, the
				  Trustee shall furnish the Authority with copies of the trust agreement and all
				  records in its possession relating to the trust agreement, the Real Estate and
				  the Development.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart C - OWNER › Section 310.303 - Organizational Documents

Current through Register Vol. 48, No. 28, July 12, 2024
The organizational documents of a joint venture, partnership,
				  limited partnership, limited liability company or corporation shall contain
				  provisions to qualify and maintain the Owner as a Limited-Profit Entity or
				  Nonprofit Corporation, as defined in the Act and this Part, and to insure that
				  the Owner and each person or entity that has an ownership interest in the Owner
				  are required to comply with the Act and this Part and shall not cause the
				  underlying Bonds used to finance the Development, if any, to become taxable for
				  federal income tax purposes. The Owner may, upon the approval of the Authority,
				  meet the requirements of this Section by entering into an agreement with the
				  Authority rather than incorporating the necessary provisions in its
				  organizational documents. The provisions of the documents of organization or
				  agreement, as required by this Section, shall not be amended without prior
				  written Authority approval. Amendment of the provisions of the documents or
				  agreement shall be allowed so long as the Authority determines that the
				  amendments comply with Section
				  310.106 of
				  this Part and this Section.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart C - OWNER › Section 310.304 - Books and Records

Current through Register Vol. 48, No. 28, July 12, 2024
The books and records of the Development shall be prepared
				  and maintained in accordance with Authority requirements and shall be subject
				  to inspection, examination and copying by the Authority and its authorized
				  representatives or agents at such times as the Authority reasonably requires
				  for the purpose of determining compliance with the Rules, the Act and all
				  contracts and agreements relating to the Program. The books and records of the
				  Owner, if separate from the books and records of the Development, shall be
				  prepared and maintained in accordance with Authority requirements and shall be
				  subject to inspection, examination and copying by the Authority and its
				  authorized representatives or agents at such times as the Authority reasonably
				  requires.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart C - OWNER › Section 310.305 - Audits

Current through Register Vol. 48, No. 28, July 12, 2024
The Development and the offices, architectural plans and
				  specifications, apparatuses, books and records, contracts, documents and other
				  papers relating to the development shall at all times be maintained in
				  reasonable condition for proper audit and shall be subject to inspection,
				  examination and copying by the Authority and its authorized representatives or
				  agents at such times as the Authority reasonably requires. All audits,
				  certifications and financial reports that the Owner is required by contract
				  with the Authority to allow, undertake or prepare shall be made by an
				  independent certified public accountant acceptable to the
				  Authority.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart C - OWNER › Section 310.306 - Annual Financial Report

Current through Register Vol. 48, No. 28, July 12, 2024
Within 90 days after the end of a Development's fiscal year,
				  the Owner shall be required to furnish the Authority with a complete annual
				  financial report based upon the books and records of the Development and the
				  Owner, prepared in accordance with Authority requirements, and certified by the
				  Owner and an independent certified public accountant acceptable to the
				  Authority.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart C - OWNER › Section 310.307 - Furnishing Information

Current through Register Vol. 48, No. 28, July 12, 2024
The Owner shall furnish such reports, projections,
				  certifications, analyses and tax returns as required by applicable federal or
				  State statutes, regulations or subsidy or assistance programs or by the
				  Authority and shall furnish specific answers to the Authority's questions about
				  the Owner's income, assets, liabilities and contracts and about the
				  administration, operation, maintenance, occupancy, financial soundness and
				  physical condition of the Development.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart C - OWNER › Section 310.308 - Purchase of Authority Bonds and Notes

Current through Register Vol. 48, No. 28, July 12, 2024
No Owner, including any "related person," as defined in
				  Section 103(b)(6)(C) of the Internal Revenue Code of 1954 as amended from time
				  to time, shall pursuant to any arrangement, formal or informal, direct or
				  indirect, agree to purchase the Bonds, Notes, or other obligations of the
				  Authority in an amount related to the aggregate principal amount of the
				  Mortgage Loan to be made to the Owner or such related person.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart C - OWNER › Section 310.309 - Standards for Approval of Conveyance and Amendment of Documents

Current through Register Vol. 48, No. 28, July 12, 2024
In determining whether to approve and/or impose restrictions
				  on the conveyance, assignment, leasing, mortgaging, pledging or other transfer
				  of all or any part of the Development, or any partnership interest, stock
				  ownership interest or member interest in the Owner of a Development, or the
				  beneficial interest in, and power of direction over, the Trust, or any
				  partnership interest, stock ownership interest or member interest in the
				  beneficiary of a Trust, and in determining whether to approve amendments to the
				  documents of organization of an Owner under Section
				  310.303
				  of this Part, the Authority shall grant approval, with any necessary
				  restrictions, if the Authority determines that the proposed action will not
				  have an adverse impact upon the financial stability or the economic viability
				  of the Development or the tax-exempt status of the Bonds, if
				  any.
Illinois Administrative Code › Title 47 - HOUSING AND COMMUNITY DEVELOPMENT › Part 310 - MULTIFAMILY RENTAL HOUSING MORTGAGE LOAN PROGRAM › Subpart D - MORTGAGE LOAN › Section 310.402 - Term of Mortgage Loans

Current through Register Vol. 48, No. 28, July 12, 2024
The maximum term of a Mortgage Loan to be made by the
				  Authority shall not exceed 65 years and may be shorter at the sole discretion
				  of the Authority. In determining the term of a Mortgage Loan, the Authority
				  shall take into account its ability to pay when due the principal (including
				  any sinking fund installments) and interest on any Bonds or Notes, its ability
				  to purchase or redeem any Bonds and to comply with the requirements of the
				  resolutions authorizing any Bonds, its ability to comply with the terms and
				  provisions of any Notes, the feasibility of the proposed Development, the
				  financial integrity of the Program, the requirements of applicable State and
				  federal law, and any other relevant factors.