Grants run from $1 million to $10 million in a well-funded year
What the document says“For any fiscal year for which not less than $100,000,000 is made available to carry out the Pilot Program, the amount of a covered grant shall be not less than $1,000,000 and not more than $10,000,000.”
The new section 227 provides that in a fiscal year with at least $100,000,000 available for the pilot program, a grant must be between $1,000,000 and $10,000,000. In a year with less than that available, the Secretary must seek to maximize the number of grants awarded.
What the document actually says“For any fiscal year for which not less than $100,000,000 is made available to carry out the Pilot Program, the amount of a covered grant shall be not less than $1,000,000 and not more than $10,000,000.”
In a year with at least one hundred million dollars, each grant has limits. The least is one million dollars. The most is ten million.
A leaner year works differently. Then the housing agency must spread the money as widely as it can. The floor and ceiling do not apply.
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