NSP Program Income Transfer and Closeout Effort Overview Webinar
July 12, 2016 | 2:00 PM - 4:00 PM EDT
HUD hosted a webinar for Neighborhood Stabilization Program (NSP) 1, 2, and 3 grantees to provide an overview of the Notice on Changes to NSP Closeout Requirements Related the Program Income. HUD also discussed closeout efforts to assist NSP grantees in the preparation, completion, and submission of their NSP grant closeout documentation. Finally, grantees learned about additional NSP resources to be released soon. Time was made for questions and answers.
These FAQs are intended to assist grantees with the policy and procedural considerations when using the option to transfer program income.
HUD is resuming the publication of the NSP expenditure report on a biweekly basis to assist Field Offices and grantees with closing out grants. The report provides cumulative draw data for NSP1, NSP2, and NSP3 grantees, including:
- Grant Amount: The amount of the original grant award
- PI Received: The amount of program income received
- PI Disbursed: The amount of program income committed and drawn down
- Drawn from Grant: The amount drawn down from the original grant award
- Total Drawn: The amount drawn down from the original grant award and from program income
- LOC Balance: The line of credit remaining from the original grant award. In order to close the grant, funds in the line of credit must be expended.
Related Materials and Resources
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