36-147 - Grants. - Virginia Statutes

§ 36-147. Grants.

Subject to any restrictions which may apply to the use of money in the Fund,the Board in its discretion may approve the use of money in the Fund to makegrants or appropriations to housing sponsors and persons and families of lowand moderate income to provide assistance for the acquisition, construction,improvement, ownership or occupancy of housing developments and residentialhousing for persons and families of low and moderate income. Grants shall bedisbursed from the Fund by the HDA in accordance with the directions of theDirector of the Department of Housing and Community Development.

(1988, c. 687.)