R990-102-3. Availability of Account Funds; Process for Accepting Requests

  (1) In determining whether there is sufficient revenue to the account to offer a grant program for the next fiscal year, the committee shall consider the following:

  (a) the amount of account funds allocated to eligible municipalities for the current fiscal year;

  (b) any changes anticipated to the amount of account funds allocated to eligible municipalities for the next fiscal year; and

  (c) any other considerations identified by the committee.

  (3) The Department shall announce whether there is sufficient revenue to the account to offer a grant program for the next fiscal year no later than August 31 of each year. The announcement shall be made at meetings of the committee and on the Division of Housing and Community Development website.

  (4) If the committee determines there is sufficient revenue to the account to offer a grant program for the next fiscal year, the committee shall set aside time on the agenda of the committee meeting held in November of each year to allow grant eligible entities to present requests for account funds for the next fiscal year.