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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 330. Oklahoma Housing Finance Agency |
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Chapter 55. Home Investment Partnership Program Rules |
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Subchapter 1. General Provisions |
SECTION 330:55-1-4. Definitions
Latest version.
- The following words and terms, when used in this Chapter, shall have the following meanings unless the context clearly indicates otherwise. Additional capitalized terms used in this Chapter 55 Rules are defined in the Act. When a conflict exists between the following definitions and the Act, the Act shall control."Act" means the Cranston-Gonzalez National Affordable Housing Act (Title II, Pub. L. 101-625, 42 U.S.C., 12701-12839)."Action Plan" means the State's Annual Program Description for the Administration of HOME Funds received by the State. The Action Plan is included in the Consolidated Plan and must be reviewed and approved by HUD."Annual Home Program Application Packet" means the packet of instructions and forms necessary to apply for an award of HOME Program funds. The Annual Home Program Application Packet will be updated annually for each successive Program Year. Notice will be provided to the public of any proposed changes and the public will have the opportunity to comment on said changes prior to their implementation."Annual Program Description" means the federally required program document stating the HOME Program objectives and method of distribution of HOME Program Funds (including Program Income and recaptured funds). The Annual Program Description, as set forth in the annual Action Plan, must be reviewed by OHFA annually, included in the State's Consolidated Plan, and submitted to HUD for review."Applicant" means any eligible entity that applies for an award of HOME Program funds through OHFA."Awardee" means any eligible entity receiving an award of HOME Program funds through OHFA."CHDO" means a Community Housing Development Organization. To qualify as a CHDO an entity must be a private, nonprofit organization that meets the qualifications prescribed in the HOME Program Regulations at 24 CFR Part 92.2."Consolidated Plan" means a plan prepared in accordance with the requirements of 24 CFR Part 91 which describes community needs, resources, priorities and proposed activities to be undertaken under certain HUD programs, including the HOME Program."Final Rule" means the Final Regulations at 24 CFR, Part 92, as amended."HOME Funds" means all appropriations for the HOME Program, plus all repayments and interest or other returns on the investment of these funds."HOME Program" means the HOME Investment Partnerships Program."HOME Program Regulations" means the regulations at 24 CFR Part 92."HUD" means the United States Department of Housing and Urban Development."IDIS" means HUD's Integrated Disbursement and Information System. As a nationwide database, IDIS provides HUD with current information regarding the program activities underway across the nation, including funding data. HUD uses this information to report to Congress and to monitor grantees. IDIS is the draw down and reporting system for the HOME Program and other Community Planning and Development formula grant programs."Implementation Manual" means the HOME Program Implementation Manual as set forth in these rules."Low-income Households" means households whose annual household incomes do not exceed eighty percent (80%) of the median household income for the area, as determined by HUD, with adjustments for household size."OHFA" means the Oklahoma Housing Finance Agency. OHFA has been designated by the Governor to administer the State's HOME Program on behalf of the State of Oklahoma."Participating Jurisdiction" means any state or local government or consortium that has been designated by HUD to administer a HOME Program. HUD designation as a Participating Jurisdiction occurs if a state or local government meets the funding thresholds, notifies HUD that they intend to participate in the program and has a HUD-approved Consolidated Plan."Period of Affordability" means the time period, mandated by the HOME Program Final Rule during which any housing assisted by HOME Program funds is subject to the rent and income restrictions and occupancy requirements as set forth in the HOME Program Final Rule."Program Income" means gross income received by OHFA, a State recipient or a Subrecipient directly generated from the use of HOME funds or matching contributions, as further defined in 24 CFR Part 92.2."Program Year" means the period selected by the Participating Jurisdiction in which it shall administer its formula allocation for the Home Investment Partnerships Program, which for the State of Oklahoma HOME Program runs from April 1 through March 31 of each calendar year."Project" means a site or sites, together with any building or buildings that are to be assisted with HOME Funds as a single undertaking."State" means the State of Oklahoma."State Recipient" means any unit of local government designated by a state to receive HOME Funds. The state is responsible for ensuring that HOME funds allocated to state recipients are used in accordance with the HOME regulations at 24 CFR Part 92 and other applicable laws."Subrecipient" means a public agency or nonprofit organization selected by a Participating Jurisdiction to administer all or a portion of the Participating Jurisdiction's HOME Program. Subrecipients run programs, not projects, and therefore a public agency or nonprofit organization awarded funds for a single project is not a subrecipient."Very-low-income Households" means households whose annual incomes do not exceed 50% of the median household income for the area, as determined by HUD, with adjustments for household size."Written Agreement" means the contract between OHFA, as the Participating Jurisdiction, and an Awardee of HOME funds, setting forth the terms and conditions that must be met by the Awardee to satisfactorily complete a HOME Program Project and comply with the HOME Program Final Rule.