(a) Amount available for allocations. See Sec. 1940.552(a) of this subpart.
(b) Basic formula criteria, data source and weight. See Sec. 1940.552(b). The criteria used in the basic formula are:
(1) State's percentage of the National number of rural occupied substandard units, and
(2) State's percentage of the National number of rural households below 50 percent of area median income. Data source for each of these criteria is based on the latest census data available. Each criterion is assigned a specific weight according to its relevance in determining need. The percentage representing each criterion is multiplied by the weight factor and summed to arrive at a basic State factor (SF). SF = (criterion No. 1 x weight of 50%) + (criterion No. 2 x weight of 50%)
(c) Basic formula allocation. See Sec. 1940.552(c) of this subpart.
(d) Transition formula. See Sec. 1940.552(d) of this subpart. The percentage range used for section 504 Housing Repair Loans is plus or minus 15.
(e) Base allocation. Not used.
(f) Administrative allocations. See Sec. 1940.552(f) of this subpart. Jurisdictions receiving formula allocations do not receive administrative allocations.
(g) Reserve. See Sec. 1940.552(g) of this subpart.
(h) Pooling of funds. See Sec. 1940.552(h) of this subpart.
(1) Mid-year: If used in a particular fiscal year, available funds unobligated as of the pooling date are pooled and redistributed based on the formula used to allocate funds initially.
(2) Year-end: Pooled funds are placed in a National Office reserve and are available as determined administratively.
(i) Availability of the allocation. See Sec. 1940.552(i) of this subpart.
(j) Suballocation by the State Director. See Sec. 1940.552(j) of this subpart. At the option of the State Director, section 504 loan funds may be suballocated to the District Offices. When performing a suballocation, the State Director will use the same basic formula criteria, data source and weight for suballocating funds within the State as used by the National Office in allocating to the States as described in Sec. 1940.566 (b) and (c) of this section.
(k) Other documentation. Not applicable.