In administering the funds provided by the initial RED C4T
investment, the Recipient:
(1) Shall administer the funds in accordance with the
Agreement approved by the Department and the Recipient, applicable
statutes, and program rules;
(2) Must mobilize the RED C4T funds in a timely manner
to ensure the initial investment is meeting the objectives of the
RED C4T Program;
(3) Shall submit all loan and grant applications for
approval by the Department;
(4) Shall certify that all loans and grants funded
with the RED C4T investment meet the eligibility requirements of this
subchapter; and
(5) May make loans to new borrowers using funds generated
from loan repayments received by the Recipient as a result of loans
made by the Recipient under the Agreement; however, no new loans may
be made after the Investment Period in the Agreement has expired or
terminated.
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