[Code of Federal Regulations]
[Title 24, Volume 3]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR594.15]

[Page 292-293]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
  CHAPTER V--OFFICE OF ASSISTANT SECRETARY FOR COMMUNITY PLANNING AND 
        DEVELOPMENT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 594_JOHN HEINZ NEIGHBORHOOD DEVELOPMENT PROGRAM--Table of Contents
 
                Subpart C_Funding Allocation and Criteria
 
Sec. 594.15  Allocation amounts.


    (a) Amounts and match requirement. HUD will make grants, in the form 
of matching funds, to eligible neighborhood development organizations. 
HUD reserves the right to make grants for less than the maximum amount 
established by statute, and to limit the number of times a previous 
grantee can receive funding. A Federal matching ratio will be 
established for each grantee in accordance with the statutory 
requirement that the highest ratios be established for neighborhoods 
having

[[Page 293]]

the greatest degree of economic distress or the smallest number of 
households.
    (b) Administrative costs. The Secretary may use no more than 5 
percent of the funds appropriated for the program for administrative or 
other expenses in connection with the program.