An eligible grantee is an organization as defined in § 1944.52 of this subpart and has received a current “Certificate of Training” pertaining to the type of application being packaged. In addition, the grantee must:
(a) Have the financial, legal, and administrative capacity to carry out the responsibilities of packaging housing applications for very low- and low-income applicants. To meet this requirement it must have the necessary background and experience with proven ability to perform responsibly in the field of housing application packaging, low-income housing development, or other business or administrative ventures which indicate an ability to perform responsibly in this field of housing application packaging.
(b) Legally obligate itself to administer grant funds, provide adequate accounting of the expenditure of such funds, and comply with Rural Development regulations.
(c) If the organization is a private nonprofit corporation, be a corporation that:
(1) Is organized under State and local laws.
(2) Is qualified under section 501(c)(3) of the Internal Revenue Code of 1986.
(3) Has as one of its purposes assisting very low- and low-income families to obtain affordable housing.