(a) Program Management. The HRC Director shall be responsible for implementation of this Chapter 110 and for the operation and management of the Program, and shall consult with MOHCD regarding those responsibilities. The HRC Director may delegate to MOHCD functions and responsibilities set forth in this Chapter 110, including but not limited to, the establishment of Program Regulations described in subsection (b), the administration of loans described in Section 110.7, and annual reporting described in the Administrative Code Chapter 10, Article XIII, Section 10.100-13(d), and MOHCD may agree to assume such functions and responsibilities. Any delegation pursuant to this subsection (a) shall be memorialized in a memorandum of understanding between the HRC Director and the MOHCD Director. The memorandum of understanding shall identify the scope and extent of the delegation and shall state the degree to which, if at all, MOHCD shall consult with HRC as to matters that have been delegated to MOHCD.
(b) Program Regulations. The HRC Director, in consultation with MOHCD, shall establish from time to time Program Regulations for the administration of the Program, consistent with applicable law and this Chapter 110. The HRC Director shall publish all Program Regulations on HRC’s website and in such additional places, if any, as the HRC Director deems appropriate, and shall provide copies or electronic links on request. By way of illustration but not limitation, the Program Regulations may address Program and Fund administration, eligibility requirements, application processes, approval of lenders, compliance with applicable laws and regulations, requirements for loan forgiveness, appraisal of Properties, affordability restrictions, eligible uses of Funds, underwriting criteria, security of loans, transaction processing, documentation and record keeping of loans and repayment thereof, enforcement, procedures for loan agreement violations, and termination of loans.
(Added by Ord. 56-24, File No. 230864, App. 3/22/2024, Eff. 4/22/2024, Oper. 5/22/2024)