This Notice establishes the role of the HUD Field Office in the environmental processing under 24 CFR Part 50 for the Loan Guarantee Recovery Fund (LGRF) administered from Headquarters by the Financial Management Division (FMD) in the Office of Block Grant Assistance (OBGA).
The LGRF is authorized by Section 4 of the Church Arson Prevention Act of 1996 and implemented under a new 24 CFR Part 573. The LGRF meets an urgent need of certain non-profit organizations to rebuild their properties which have been damaged by an act of arson or terrorism. To address the damage to property, LGRF may be used to finance property acquisition, rehabilitation, new construction, site clearance, preparation, and improvements, for which HUD must comply with the National Environmental Policy Act and the related Federal environmental laws and authorities cited in § 50.4 prior to the HUD issuance of a letter of commitment.
Section 4 Loan Guarantee Recovery Fund