Are we able to get reimbursed for expenses already accrued and paid, such as architectural fees.
“Upon successful execution of Program Funding Agreement, and all required documents and certifications, AHP shall disburse the Program Funds to the Sponsor for the amount of any reasonable, actual, and […]
Can I refinance the home/facility to get a loan out of equity during the encumbrance period?
There are no restrictions for refinancing in the grant program funding agreement. It is up to the sponsor to work out refinancing terms.
“The applicant is aware of the fund expended deadline; however, their project is massive and will take several years after the state’s deadline to complete. They have multiple funding sources available and would like to know the following. Will the state fund a project that will not be completed by 2026-27 deadline? *This project is in Central Coast – with the least amount of grant applications.”
It is understood that some projects will continue construction after Dec 31, 2026. This is allowable. The goal of the Sponsor in these cases should be to expend BHCIP funds […]
