Missouri Housing Trust Fund Funding Process, Recapture of Undisbursed Missouri Housing Trust Fund Funds and Re-Awarding of Undisbursed

Recaptured Funds PURPOSE: This rule establishes processes recipients of Missouri Housing Trust Fund (MHTF) awards must abide by in order to receive and retain MHTF funds. (1) Each applicant whose proposal has been selected for funding and who has entered into a reservation agreement for Missouri Housing Trust Fund (MHTF) funds under 4 CSR 1707.300 must execute a grant agreement, and, where applicable, a land use restriction agreement and/or regulatory agreement with the commission, each on such forms as may be prescribed by the commission, before any MHTF funds may be advanced to the applicant. (2) All grant funds awarded under the MHTF notice of funding availability (NOFA) must be disbursed by such date as the trust fund department may specify in each individual grant agreement. Any funds remaining undisbursed after that date shall be recaptured by the commission. (3) All recaptured funds shall be made available to grantees whose proposals were selected for funding under the same MHTF NOFA for which the MHTF funds are being recaptured, but which did not receive the full amount of MHTF funds requested, via a secondary funding round. The allocation of recaptured funds under this secondary funding round shall be determined by the trust fund department, in its sole discretion, taking into account all factors it deems appropriate. These factors will include, but shall not be limited to, the following: (A) The final score on the grantee’s original proposal; (B) The type of eligible funding use(s) for which the MHTF funds were requested under the grantee’s original proposal; (C) The total amount of MHTF funds allocated to each type of eligible funding use under the MHTF NOFA for which the recaptured funds are being made available; (D) The allocation plan approved by the commission for the MHTF NOFA under which the recaptured funds are being distributed; (E) The grantee’s continuing need for the remaining MHTF funds sought under its original proposal; (F) The grantee’s performance and history of compliance under its current grant agreement(s) with the trust fund department; and (G) The grantee’s standing with all other departments and programs of the commission with which it is involved. (4) In no event shall the total amount of recaptured funds allocated to any grantee, when combined with the total amount of MHTF funds initially awarded to the grantee under its original proposal, exceed the total amount of MHTF funds requested under the grantee’s original proposal. (5) All recaptured funds awarded under this section shall be disbursed in accordance with such rules and requirements as the commission and its staff may establish. AUTHORITY: section 215.030(5), (12), and (19), RSMo 2000.* Original rule filed Nov. 30, 2011, effective June 30, 2012. *Original authority: 215.030, RSMo 1969, amended 1974, 1982, 1985, 1989, 1993, 1995, 1998.