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89 FR 53015, June 25, 2024, unless otherwise noted.
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The Recipient must use its CMF Award to finance and support Affordable Housing Activities and/or Economic Development Activities through the following Eligible Uses:
(a) To capitalize Loan Loss Reserves;
(b) To capitalize a Revolving Loan Fund;
(c) To capitalize an Affordable Housing Fund;
(d) To capitalize an Economic Development Activity Fund;
(e) To make Risk-Sharing Loans; and
(f) To provide Loan Guarantees.