The Neighborhood Opportunity Fund may be used for the following costs when such costs are necessary or desirable for, or in support of, one or more authorized uses:
(a) costs to acquire, rehabilitate, or demolish substandard, obsolete, or vacant buildings, subject to the following limitations:
(i) for Group I Awards, eligible costs under this subsection (a) shall not exceed 75 percent of total project costs; and
(ii) for Group II Awards, eligible costs under this subsection (a) shall not exceed 50 percent of total project costs;
(b) costs to construct new buildings, subject to the following limitations:
(i) for Group I Awards, eligible costs under this subsection (b) shall not exceed 75 percent of total project costs; and
(ii) for Group II Awards, eligible costs under this subsection (b) shall not exceed 50 percent of total project costs;
(c) costs to plan, design, and construct public infrastructure directly related to project costs allowed under subsections (a) and (b) of this section;
(d) planning and design costs including, but not limited to, architecture, engineering, zoning, design, and feasibility study expenses, directly related to project costs allowed under subsections (a) and (b) of this section;
(e) financing costs related to project costs allowed under subsections (a), (b), (c), or (d) of this section;
(f) costs of job support used to recruit, hire, train, and retain job seekers who reside in Qualified Investment Areas for identified jobs created by projects funded by Group I Awards or Group II Awards;
(g) Small Business Development Costs, provided that such business support services costs shall not exceed 15 percent of the Neighborhood Opportunity Fund; and
(h) administrative, reporting, and monitoring costs and expenses of the Neighborhood Opportunity Fund, provided such costs and expenses may not exceed 15 percent of the Neighborhood Opportunity Fund.
(Added Coun. J. 5-18-16, p. 24993, § 2; Amend Coun. J. 2-19-20, p. 14012, § 8; Amend Coun. J. 7-17-24, p. 13743, § 6; Amend Coun. J. 9-18-24, p. 16322, § 1)