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Notice CPD-17-14: Lump Sum Drawdown Requirements in the CDBG Program

Date Published: December 2017

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Description

This Notice is to provide guidance to Entitlement and State grantees on the requirements governing lump sum drawdowns and revolving loan funds in Section 104(h) of the Housing and Community Development Act (HCDA) and 24 CFR 570.513. HUD permits grantees to draw Community Development Block Grant (CDBG) funds in a lump sum to establish a rehabilitation fund in one or more private financial institutions to finance rehabilitation activities.

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Tags: CDBG Entitlement Program CDBG HUD Administered Non-Entitled Counties in Hawaii Program CDBG Insular Areas Program CDBG State Program
Author Organization
  • HUD
Resource Approver
  • HUD Approved