Eligible Uses.

The Recipient must use its CMF Award to finance and support Affordable Housing Activities and/or Economic Development Activities through the following Eligible Uses: (a) To capitalize Loan Loss Reserves; (b) To capitalize a Revolving Loan Fund; (c) To capitalize an Affordable Housing Fund; (d) To capitalize an Economic Development Activity Fund; (e) To make Risk-Sharing Loans; and (f) To provide Loan Guarantees.