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This document certifies state compliance with requirements related to the Section 108 Loan Guarantee program under the Community Development Block Grant (CDBG) program, addressing legal authority
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How to fill out section 108 loan guarantee
How to fill out SECTION 108 LOAN GUARANTEE State Certifications Related to Nonentitlement Public Entities
01
Obtain the SECTION 108 LOAN GUARANTEE application form from your state housing agency.
02
Review the requirements and guidelines provided by the agency for nonentitlement public entities.
03
Gather necessary documentation regarding the proposed project, including project description, budget, and timelines.
04
Complete the certification form thoroughly, ensuring that all required fields are filled out accurately.
05
Include proof of eligibility by demonstrating that your public entity meets the qualifications outlined in the guidelines.
06
Attach any supporting documentation as required, such as resolutions or letters of support from local government.
07
Review the completed form for accuracy and completeness.
08
Submit the certification form along with required documents to the state housing agency before the deadline.
Who needs SECTION 108 LOAN GUARANTEE State Certifications Related to Nonentitlement Public Entities?
01
Local government entities that are not classified as entitlement communities.
02
Public agencies seeking federal assistance for community development projects.
03
Entities applying for loan guarantees under the SECTION 108 program.
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People Also Ask about
What is Section 108 of the Act?
India Code: Section Details. A person abets an offence, who abets either the commission of an offence, or the commission of an act which would be an offence, if committed by a person capable by law of committing an offence with the same intention or knowledge as that of the abettor.
What is a section 108 loan guarantee?
The Section 108 Loan Guarantee Program (Section 108) provides Community Development Block Grant (CDBG) recipients with the ability to leverage their annual grant allocation to access low-cost, flexible financing for economic development, housing, public facility, and infrastructure projects.
What is the Section 108 loan guarantee program?
Section 108 loans provide communities with a source of financing for a variety of projects. It allows local governments to transform a small portion of their CDBG funds into federally- guaranteed loans. These loans are then used to pursue physical and economic revitalization projects.
How does a loan guarantee program work?
A guaranteed loan is a type of loan in which a third party agrees to pay if the borrower should default. A guaranteed loan is used by borrowers with poor credit or little in the way of financial resources; it enables financially unattractive candidates to qualify for a loan and assures that the lender won't lose money.
What does section 108 mean?
The Section 108 Loan Guarantee Program (Section 108) provides Community Development Block Grant (CDBG) recipients with the ability to leverage their annual grant allocation to access low-cost, flexible financing for economic development, housing, public facility, and infrastructure projects.
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What is SECTION 108 LOAN GUARANTEE State Certifications Related to Nonentitlement Public Entities?
SECTION 108 LOAN GUARANTEE State Certifications are required documents that certify compliance with federal regulations when nonentitlement public entities seek federal loan guarantees for economic development projects.
Who is required to file SECTION 108 LOAN GUARANTEE State Certifications Related to Nonentitlement Public Entities?
Nonentitlement public entities, which typically refers to cities and local governments not receiving direct Community Development Block Grant (CDBG) funds, are required to file these certifications.
How to fill out SECTION 108 LOAN GUARANTEE State Certifications Related to Nonentitlement Public Entities?
To fill out the SECTION 108 LOAN GUARANTEE State Certifications, entities must provide information on their compliance with CDBG requirements, including project details, funding amounts, and assurances related to the use of funds.
What is the purpose of SECTION 108 LOAN GUARANTEE State Certifications Related to Nonentitlement Public Entities?
The purpose of these certifications is to ensure that nonentitlement public entities are adhering to federal regulations and guidelines when utilizing federally guaranteed loans for public projects, thereby promoting accountability and transparency.
What information must be reported on SECTION 108 LOAN GUARANTEE State Certifications Related to Nonentitlement Public Entities?
The information that must be reported includes a description of the proposed project, the total funding amount requested, compliance with CDBG requirements, and any assurances or certifications required under the loan guarantee program.
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