ARM 8.111.508. TANF ALLOCATION ELIGIBLE PURPOSES

(1) There are two categories of TANF allocations: (a) a TANF allocation - home ownership; and (b) a TANF allocation - emergency housing assistance. (2) A TANF allocation - home ownership may be used for loans to eligible recipients: (a) for down payment assistance; (b) for reasonable and necessary closing costs; (c) for the first month's payment on a first mortgage; (d) to buy down the rate of interest charged on a first mortgage; or (e) for any other purpose reasonably designed to assist an eligible recipient to purchase a home and which has been approved by the board. (3) A TANF loan from a TANF allocation - home ownership is not assumable and must be repaid upon sale of the real property pledged as security for the loan. (4) The lesser of 10% of the TANF funds available to the board or $200,000 is available for TANF allocations - emergency housing assistance. A TANF allocation - emergency housing assistance may be used to make loans to eligible recipients for: (a) assistance in making rent payments; (b) assistance in paying security deposits; (c) assistance in making mortgage payments; or (d) any other purpose reasonably designed to assist an eligible recipient to stay in their home during a time of emergency and which has been approved by the board.