NSP FAQ
Q

Are subsequent transfers of a property that was acquired with NSP funds subject to HUD environmental compliance review requirements?

Date Published: October 2012

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A

Sometimes. HUD environmental compliance review requirements will continue to apply as long as the CDBG requirements apply to the transfers of title and/or the use of the property as a result of the transfer. Therefore, the environmental review needs to be completed before a commitment is made to another party for the sale or transfer of the property. Note that the level of environmental review will vary depending upon whether the property is to remain "as is," will undergo rehabilitation or construction, or will be used for an alternative purpose. A subsequent transfer from an end user, like a homebuyer, does not trigger further environmental reviews. Refer to the NSP Policy Alert: Environmental Review, Options and Conditional Contracts.


Tags: NSP Environmental Review

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FAQ ID:

1127