The moneys in the fund allocated to eligible applicants in accordance with Section 50651.1 shall only be expended for the benefit of one or more of the following eligible beneficiaries: (a) Indian and essential families and individuals residing in an Indian area. (b) Households residing in an Indian area with annual incomes up to 80 percent of the median income for the area for rental housing programs and projects and up to 120 percent of median income for the area for home ownership programs and projects. (c) In high-cost areas, tribes may provide financial assistance to households with incomes up to 150 percent of median income for the area for home ownership programs and projects provided the total dollar amount of assistance does not exceed more than 10 percent of total funds allocated.
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