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Notice CPD-97-13: Procedures for Closing Out HOPE 3 Program Implementation Grants


Date Published: November 1997


The purpose of This Notice is to provide instructions for closing out Homeownership for People Everywhere (HOPE 3) Program Implementation Grants authorized by the National Affordable Housing Act of 1990, as amended by the Housing and Community Development Act of 1992.  The HOPE 3 Program regulations provide, at 24 CFR  572.210(g), that recipients will comply with closeout procedures as issued by HUD.  Closeout of HOPE 3 Implementation Grants will provide a systematic process of verifying that major program requirements have been met as specified in the program regulations at 24 CFR Part 572.  These procedures apply to grants where the grantee has provided at least 70 percent of the homeownership opportunities in the HUD-approved application for the HOPE 3 Implementation Grant or the number of homeownership opportunities subsequently approved in an amendment to the application.  Grants not meeting this criterion will be closed on a case-by-case basis with the assistance of Headquarters, Office of Affordable Housing staff.

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