Which is correct?
There is a lot of code (our program consists of)
There are a lot of code (our program consists of)
Which is correct?
There is a lot of code (our program consists of)
There are a lot of code (our program consists of)
The word "code" is singular in this sentence. It is being used as an uncountable noun. It must have a verb that agrees in number. You must say "There is a lot of code..."
Somewhat more surprisingly, with plural nouns the agreement is with the plural, not with "lot": "There are a lot of toys". Contrast this with "There is a box of toys"