Section 10-B3805. DISTRIBUTION OF LENDABLE BOND PROCEEDS

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3805.1In order to comply with § 103 and § 141 through 150 of the Internal Revenue Code of 1986, as amended, and applicable I.R.S. regulations, and to carry out the policy for which the Agency was created, the Agency shall provide a mechanism assuring that a necessary or reasonable amount of lendable Bond proceeds are distributed in Targeted areas and to such persons as the Agency determines suffer from a critical shortage of affordable financing, or are otherwise in need of appropriate financing for Single-family residences.

authority

Section 306 of the District of Columbia Housing Finance Agency Act of 1979, effective March 3, 1979, (D.C. Law 2-135; D.C. Official Code § 42-2703.06 (2012 Repl.)) (Act), and 10-B DCMR § 3508.1.

source

Final Rulemaking published at 30 DCR 4930, 4935 (September 23, 1983); as amended by Final Rulemaking published at 61 DCR 4156 (April 25, 2014).

                    
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