NSP FAQ
Q

If a developer acquires and rehabilitates a property using NSP funds and then sells a property to an eligible buyer, are the sales proceeds considered program income? Can the developer keep the proceeds?

Date Published: October 2012

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A

If a developer sells a property, a NSP grantee may permit the proceeds to be retained by the developer and those funds are not considered program income. However, the grantee must ensure that the proceeds retained by the developer are reasonable.  More information is available in the NSP Policy Alert Program Income in NSP.

 


Tags: NSP Financial and Grants Management - Program Income

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FAQ ID:

696