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criteria shall be classified as disqualified. <br />Applications satisfying the review criteria shall be <br />forwarded to the IRCLHAProgram Review Committee <br />(IRCLHAPRC) for final review and approval of the <br />application. <br />a. Disqualified applicants shall be informed of the areas <br />causing denial of the submitted application and be <br />encouraged to correct the reasons for denial if possible. <br />Disqualified applicants may reapply for participation in <br />the IRCLHAProgram; however, a minimum of thirty (30) <br />working days following issuance of a denial notice must <br />pass prior to submission of a new application. <br />b. Applicants approved for participation in the <br />IRCLHAProgram shall be issued a Notice of Commitment <br />indicating that the applicant has qualified for <br />participation in the IRCLHAProgram; this notice shall <br />also indicate the award type and the amount of the award. <br />The Notice of Commitment shall be valid for a maximum of <br />sixty (60) working days. The applicant must obtain a <br />committed contract for purchase or committed contract for <br />rehabilitation and repair work to maintain the Notice of <br />Commitment beyond the sixty (60) day maximum. Obtaining <br />a committed contract for purchase or rehabilitation and <br />repair work shall constitute formal encumbrance of the <br />funds. The date of execution of the committed contract <br />shall serve as the date of formal encumbrance as <br />referenced in Section III.D.2. of this Plan. <br />If a committed contract for purchase or rehabilitation is <br />not obtained by the applicant prior to expiration of the <br />Notice of Commitment, the applicant must recommence the <br />application process; however, a minimum of thirty (30) <br />working days following the expiration of the Notice of <br />Commitment must pass prior to submission of a new <br />application. <br />6. Transfer/Dispersal of Funds for Housing Units <br />Prior to the actual transfer or dispersal of funds from <br />the Indian River County Local Housing Assistance Trust <br />Fund, the following activities and documentation shall be <br />completed. <br />a. Housing Unit Inspection/Certificate of Occupancy <br />All eligible housing <br />satisfactory approval for <br />following methods: <br />units shall receive <br />occupancy via one of the <br />