8. HUD Cancels Unused NSP Grant Award
Upon signing the Closeout Agreement, HUD cancels and returns to the U.S. Treasury any unused funds in the NSP Line of Credit for that particular NSP grant, as shown in the signed Closeout Agreement. This does not include program income, which will remain available for use by the grantee in its local NSP account.
Although this concludes the closeout process there are ongoing compliance requirements for the grant. Review the next section for a summary of these requirements.