§17-31-5. Minimum residential threshold and project eligibility.

(a) To be eligible for funding under this article, a project shall serve a minimum of:

(1) Twenty single-family dwelling units;

(2) Twenty multifamily dwelling units; or

(3) A combination of single-family and multifamily dwelling units totaling at least 20 residential units.

(b) For purposes of this section, each dwelling unit shall be counted as one residential unit regardless of structure type.

(c) Local government financial participation shall not be required as a condition of eligibility or approval under this program.

(d) Approval of projects under this article is in the discretion of the division and subject to the availability of funds.