(a) The Department shall award operating assistance grants to nonprofit organizations to further the production or rehabilitation of limited income housing by those organizations or by individuals they help.
(b) A nonprofit organization is eligible for a grant if it meets the performance and other standards that the Department sets and:
(1) makes an application that:
(i) describes the housing project;
(ii) includes evidence of acceptable performance in the prior year, if the nonprofit organization received a grant in the prior year; and
(iii) is acceptable to the Department;
(2) has helped individuals to apply for loans from the Department; or
(3) was responsible for originating applications, as certified by a political subdivision approved by the Department.