HOMEfires Vol. 3, No. 5: Twelve Month Construction Deadline and Six Month Transfer Deadlines

Description

The definition of "commitment" in the HOME Final Rule states that, when a PJ commits funds to a specific project, there must be a reasonable expectation that construction will begin within twelve months for rehabilitation or, for acquisition only projects, be transferred within six months. Does this mean that projects that do not meet this requirement are ineligible and must be canceled?

Resource Links

• HOMEfires Vol. 3, No. 5: Twelve Month Construction Deadline and Six Month Transfer Deadlines (PDF)