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Need Housing Assistance?
  1. Home
  2. Programs
  3. NSP: Neighborhood Stabilization Program
  4. NSP Closeout Process and Guidance
  5. Closeout Process Overview

NSP Closeout Process and Guidance

  • Closeout Process Overview
  • Prepare: Are You Ready for Closeout?
    • Have virtually all of the grant funds in the Line of Credit been drawn in DRGR?
    • Has the 25% Set-Aside Requirement for the grant amount been met?
    • Are you on track to meet the 25% Set-Aside Requirement for Program Income within three years of the closeout date?
    • Have all activities, funded with even a penny of Line of Credit funds, met a National Objective?
    • Has all DRGR data been reconciled and does it tell a complete and accurate story?
    • Have all audit or monitoring findings been cleared?
    • Are there restrictive covenants or other mechanisms in place?
    • If applicable, is there a land bank operating plan for properties remaining in the land bank at closeout?
  • Complete: Closeout Steps
    • 1. Review NSP Grant Closeout Overview
    • 2. Contact Your Field Office
    • 3. HUD Determines Readiness and Sends Closeout Package
    • 4. Prepare and Submit Closeout Package to HUD
    • 5. HUD Reviews Closeout Package
    • 6. Submit Final Performance Report to HUD
    • 7. Execute Closeout Agreement with HUD
    • 8. HUD Cancels Unused NSP Grant Award
  • Comply: Post-Closeout
    • Post-Closeout Compliance
  • Additional Resources
  • Get Help Today

NSP Closeout Process - PrepareNSP Closeout Process - CompleteNSP Closeout Process - Comply

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Note: This material is based upon work supported by funding under an award with the U.S. Department of Housing and Urban Development. The substance and findings of the work are dedicated to the public. Neither the United States Government, nor any of its employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately-owned rights. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the U.S. Government or any agency thereof. Opinions expressed on the HUD Exchange are those of the authors and do not necessarily reflect the official position of, or a position that is endorsed by, HUD or by any HUD program.
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