Restriction of Funds. No funds received under this Agreement may be used to establish operating reserves nor to cover operating expenses incurred by the Grantee acting as a subrecipient or contractor under the HOME or CDBG programs as specified in HOME regulations 24 CFR 92.214 and 24 CFR 92.208. Total HOME funds received in a fiscal year for operating expenses, including housing education under 24 CFR 92.302 through this agreement or agreements with other HUD intermediaries, may not exceed 50% of Grantee’s total operating expenses for that fiscal year or $50,000, whichever is greater.
Appears in 6 contracts
Samples: Chdo Operating Funds Agreement, Chdo Operating Funds Agreement, Chdo Operating Funds Agreement
