Sec. 11. (a) At least fifty percent (50%) of the resources of the fund shall be allocated to recognized nonprofit corporations under Section 501(c) of the Internal Revenue Code.
(b) The resources of the fund that are not allocated under subsection (a) may be allocated to private developers of housing and private development entities as determined by the authority.
As added by P.L.69-1989, SEC.4. Amended by P.L.179-1991, SEC.9; P.L.1-1992, SEC.13; P.L.27-1993, SEC.21; P.L.1-2006, SEC.117; P.L.181-2006, SEC.35; P.L.1-2007, SEC.35.
Structure Indiana Code
Title 5. State and Local Administration
Chapter 4. Affordable Housing and Community Development Fund
5-20-4-3. "Housing and Community Development Authority"
5-20-4-5. "Lower Income Families"
5-20-4-6. "Very Low Income Families"
5-20-4-8. Financial Assistance; Form; Allocation
5-20-4-9. Terms of Loans From Board for Depositories Insurance Fund
5-20-4-10.1. Repayment of Loans; Procedures
5-20-4-11. Allocation of Fund Resources
5-20-4-12. Occupancy of Housing Developed With Fund Resources
5-20-4-13. Developer Certification of Compliance With Federal Requirements
5-20-4-14. Policies and Procedures for Implementation of Chapter