(a) The Fund shall be available without fiscal year limitation for the purpose of providing financial assistance for down payments or interim financing to recipients for the purpose of purchasing or securing housing, including single family homes, condominium units, or occupancy rights to cooperative housing in the District of Columbia as their principal place of residence and of providing financial assistance to District of Columbia government employees eligible under the District of Columbia Employer-Assisted Housing Program to purchase a home in the District of Columbia. Under terms and conditions prescribed by the Mayor of the District of Columbia (“Mayor”), the Fund shall be used for making loans and providing other forms of financial assistance. The assistance provided pursuant to the Fund may be used in conjunction with other available home assistance programs.
(b)(1) DHCD shall maintain and publish a Program dashboard, which shall include, at a minimum, the total Program funding available, excluding administrative costs, as of the date of updating the dashboard.
(2) DHCD shall update the dashboard every 5 business days when the level of available Program funding is at $5 million or above and every 2 business days when the level of available Program funding is below $5 million.
(c) If Program funding is depleted before the end of the fiscal year in which an applicant receives a notice of eligibility, the notice of eligibility shall remain valid through at least the end of the following fiscal year.
