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FIRST AMERICAN CORE LOGIC
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Last modified
1/3/2012 3:01:12 PM
Creation date
10/14/2008 9:15:53 AM
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Contracts
Company Name
FIRST AMERICAN CORE LOGIC
Contract #
N-2008-137
Agency
COMMUNITY DEVELOPMENT
Destruction Year
0
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<br />31 <br /> <br />is providing an alternative requirement that an amount of up to 10 percent of an NSP grant <br /> <br />provided to a jurisdiction and of up to 10 percent of program income earned may be used for <br /> <br />general administration and planning activities as those are defined at 24 CFR 570.205 and 206. <br /> <br />For all grantees, including states, the 10 percent limitation applies to the grant as a whole. <br /> <br />The regulatory and statutory requirements for state match for program administration at <br /> <br />24 CFR 570.489 (a)(i) are superseded by the statutory direction at section 2301(e)(2) that no <br /> <br />matching funds shall be required for a state or unit of general local government to receive a <br /> <br />grant. <br /> <br />Reauirements <br /> <br />1. Use of grant funds must constitute an eligible use under HERA. <br /> <br />2. In addition to being an eligible NSP use of funds, each activity funded under this notice must <br /> <br />also be CDBG-eligible under 42 U.S.C. 5305(a) and meet a CDBG national objective. <br /> <br />3.a. Certain CDBG-eligible activities correlate to specific NSP-eligible uses and vice versa. 42 <br /> <br />U.S.C. 5305(a) and 24 CFR 570.201-207 and 482(a) through (d) are superseded to the extent <br /> <br />necessary to allow the eligible uses described under section 2301(c)(3) of HERA in accordance <br /> <br />with this paragraph (including the table and subparagraphs below) or with permission granted, in <br /> <br />writing, by HUD upon a written request by the grantee that demonstrates that the proposed <br /> <br />activity constitutes an eligible use under NSP. All NSP grantees, including states, will use the <br /> <br />NSP categories and CDBG entitlement regulations listed below. <br /> <br />NSP-Eligible Uses Correlated Eligible Activities From the CDBG <br /> Entitlement Re!l1llations <br />(A) Establish fmancing mechanisms . As part of an activity delivery cost for an <br />for purchase and redevelopment of eligible activity as defined in 24 CFR <br />foreclosed upon homes and 570.206. <br />residential properties, including such . Also, the eligible activities listed below to the <br />mechanisms as soft-seconds, loan extent financing mechanisms are used to carry <br />loss reserves, and shared-equity them out. <br />
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