Distribution of Funds to the City of Chicago

Section 385.202  Distribution of Funds to the City of Chicago After distributing the amount listed in Section 385.201(a) of this Part, the Authority shall distribute 25% of the moneys remaining in the Foreclosure Prevention Fund that have been appropriated to the City. a)         City Administrative Expenses.  The City shall be entitled to deduct from each distribution from the Authority, prior to making any Grants to the Counseling Agencies or support of foreclosure prevention programs administered by the City, an amount not to exceed 8% of the distribution from the Authority for General Operational Expenses, Computer and Equipment Expenses, and Technical Assistance associated with the administration of the Program, including, without limitation, expenses for staff salaries and benefits for time spent on design and administration of the Program; expenses incurred in performing outreach activities and providing technical assistance to the Counseling Agencies ; the use of the City's equipment for Program purposes; the cost of office space and utilities incurred in connection with the Program; and any other expenses incurred in the administration of the Program. The City shall maintain a detailed accounting of its administrative expenses, which shall be available to the public for review. b)         Eligible City Activities.  Eligible activities by the City under the Program are as follows: 1)         making Grants to the Counseling Agencies located within the City for Housing Counseling; and 2)         supporting, subject to Section 385.303(b), foreclosure prevention counseling programs administered by the City.