§ 1272. Access to home for heroes contracts. * 1. Within the limit of
funds available in the access to home for heroes program, the
corporation is hereby authorized to enter into contracts with eligible
applicants to provide financial assistance for the actual costs of an
access to home for heroes program. The financial assistance shall be in
the form of grants. No more than fifty percent of the total amount
awarded pursuant to this article in any fiscal year shall be allocated
to access to home programs located within any single municipality.

* NB Effective until October 23, 2024

* 1. Within the limit of funds available in the access to home for
heroes program, the corporation is hereby authorized to enter into
contracts with eligible applicants to provide financial assistance for
the actual costs of an access to home for heroes program. Such costs may
include the costs of repairs of eligible properties, provided that such
repairs are related to the adaptation or retrofitting of such eligible
properties, that such repairs are related to the habitability of such
eligible properties, and that the access to home for heroes funds
provided to cover the cost of such repairs does not exceed sixty percent
of the access to home for heroes program grant or loan. The financial
assistance shall be in the form of grants. No more than fifty percent of
the total amount awarded pursuant to this article in any fiscal year
shall be allocated to access to home programs located within any single
municipality.

* NB Effective October 23, 2024

2. The total payment pursuant to any one contract shall not exceed
five hundred thousand dollars and the contract shall provide for
completion of the program within a reasonable period, as specified
therein, which shall not in any event exceed three years from its
commencement. Upon request, the corporation may extend the term of the
contract for up to two additional one year periods for good cause shown
by the eligible applicant.

* 3. The corporation shall authorize the eligible applicant to spend
seven and one-half percent of the contract amount for approved
administrative costs associated with administering the program.

* NB Effective until October 23, 2024

* 3. The corporation shall authorize the eligible applicant to spend
ten percent of the contract amount for approved administrative costs
associated with administering the program.

* NB Effective October 23, 2024

4. The corporation shall require that, in order to receive funds
pursuant to this article, the eligible applicant shall submit a plan
which shall include, but not be limited to, program feasibility, impact
on the community, budget for expenditure of program funds, a schedule
for completion of the program, affirmative action and minority business
participation.