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production of the advertisements and notices shall <br /> constitute a part of the administrative application <br /> preparation and review processing activities. <br /> Funds from the IRCLHATF shall be allocated for <br /> encumbrance on a first application complete, first <br /> application served basis as applicants are approved and <br /> qualified for participation in the program. <br /> No anticipated funds for future commencing fiscal years <br /> shall be encumbered. Furthermore, the encumbrance of <br /> funds in a manner which would not comply with the <br /> requirements of the IRCLHAProgram and the IRCLHAPlan is <br /> not permitted. <br /> 3. Application Processing <br /> Applications submitted by eligible sponsors or persons <br /> for participation in the IRCLHAProgram shall be reviewed <br /> by staff members of the Community Development Department <br /> or separate third party under contract to conduct <br /> application reviews for the IRCLHAProgram. <br /> A maximum of twenty (20) working days may be utilized for <br /> review of any submitted application, however, reviews may <br /> exceed this period pending the receipt of information or <br /> documentation required to complete the evaluation of the <br /> application. Applications will be processed based on <br /> first application completed, first application reviewed <br /> by the county loan review committee. <br /> 4. IRCLHAProgram Applicant Criteria <br /> Eligible persons or sponsors applying for participation <br /> in the IRCLHAProgram shall comply with the following <br /> requirements: <br /> a. Income Level <br /> All applicants shall be classified as very low-, <br /> low-, or lower half of moderate-income persons; <br /> however, in cases where the applicant is an <br /> eligible sponsor but not an eligible person, the <br /> assisted housing unit must be occupied by persons <br /> classified as very low-, or low-income persons. <br /> b. Employment Verification <br /> Applicants seeking assistance from the <br /> IRCLHAProgram to purchase eligible housing units <br /> 41 <br />