Emergency Funds

(1) The Secretary, as Chairman of MHC, will set aside a separate pool of emergency funds of a minimum of $200,000.00 foreachgrantcycle, to be distributed by the Secretary. Any money not used in a given cycle will remain in the emergency fund, until the last year of the grant cycle, at which time all funds must be expended. (2) The pool of funds will be maintained for distribution by the Secretary to applicants seeking money immediately to stabilize listed properties, or properties evaluated eligible for listing, which are considered by the Secretary to be in imminent danger. Money will notbe released from the emergency fund for properties which are partially destroyed through fault of the owner, because of improper maintenance of the property. (3) Applicants must demonstrate the ability to match the grant award withinthree years of receipt of the emergency grant. (4) When the total amount of emergency funds has been expended in a grant cycle, the Secretary in his/her discretion may utilize funds available in the next grant cycle.