Section 380.615  Reconciliations

Each Developer shall, every quarter during the term of its Commitment, perform a Reconciliation and, if the Reconciliation indicates that the Developer has received funds exceeding the amount required for Rental Assistance payments, the Developer shall return all excess funds to its funding Agency within 30 days.  The funding Agency may reduce the amount of subsequent quarterly payments to the Developer under the Commitment to offset Reconciliation amounts owing to, but not forwarded to, the Agency.

(Source:  Amended at 46 Ill. Reg. 12608, effective July 7, 2022)