Connecticut General Statutes 17a-224 – Administration of program through purchase-of-service contract or memorandum of understanding
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The department may administer the residential facility revolving loan program through (1) a purchase-of-service contract with any state-wide private nonprofit housing development corporation that is organized for the purpose of expanding independent living opportunities for persons with disabilities, or (2) a memorandum of understanding with the Connecticut Housing Finance Authority established pursuant to § 8-244.
Terms Used In Connecticut General Statutes 17a-224
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.