Housing Development Agency Act, 2008 (Act No. 23 of 2008)RegulationsHousing Development Agency RegulationsChapter 6 : Funding of priority housing development area25. Funding of implementation of priority housing development area plan |
| (1) | The department will allocate a portion of the Human Settlements Development Grant allocated in terms of the Division of Revenue Act, for the implementation of the development plan and facilitate the allocation of other relevant grants. |
| (2) | A defined amount must be made available by the relevant member of the executive council in a particular province from the provincial allocation in terms of the annual housing vote allocation by the Minister of Finance in terms of the Division of Revenue Act. |
| (3) | In the case of an assigned municipality, a defined amount must be made available by the municipality from the municipal allocation in terms of the annual housing vote allocation by the Minister of Finance in terms of the Division of Revenue Act. |
| (4) | The funding contemplated in subregulations (1) and (2) must cover funds for capital and operational budget requirements. |
| (5) | Funding commitments and the sequence of release must be stipulated by each party in the development plan in accordance with regulation 14(2)(k). |