The Florida Senate

420.428  Eligible activities.--Grant recipients may use grant funds made available pursuant to ss. 420.421-420.429 to:

(1)  Pay the Neighborhood Reinvestment Corporation for the fee charged to develop a neighborhood housing services corporation, which fee, if refunded, may be used for any eligible activity;

(2)  Fund the operation of a neighborhood housing services corporation by payment of salaries and other administrative expenses, as approved by the department; and

(3)  Fund a revolving high-risk loan fund which is administered by a neighborhood housing services corporation to finance the rehabilitation of property in the corporation's targeted area.

History.--s. 7, ch. 79-259; s. 6, ch. 85-265.