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  • HUD Guidance

Notice CPD-15-09: Requirements for Committing HOME Funds

Date Published: November 2015

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Description

Participating jurisdictions (PJs) must commit HOME Investment Partnerships Program (HOME) funds within 24 months of HUD's obligation of its grant, or HUD will recapture the funds from the PJ's HOME Investment Trust account. This Notice explains what constitutes an eligible commitment of HOME funds for the purposes of meeting the 24-month commitment deadline. The Notice explains the requirements contained in the definition of "commitment" at 24 CFR 92.2 and the underwriting, subsidy layering, and project assessment requirements at 24 CFR 92.250(b), all of which must be met prior to the commitment of HOME funds, and some of which are new requirements imposed by the HOME final rule published on July 24, 2013.

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Tags: HOME
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  • HUD
Resource Approver
  • HUD Approved