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This manual serves as a guide for local governments on managing Community Development Block Grant (CDBG) Revolving Loan Funds by providing information on program income, guidelines for administration,
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How to fill out cdbg program income and
How to fill out CDBG Program Income and Revolving Loan Fund Manual
01
Gather all necessary documentation related to the CDBG program income and revolving loan fund.
02
Begin completing the manual by following the provided sections in the template.
03
Accurately report all sources of program income as outlined in the guidelines.
04
Detail the management of the revolving loan fund, including application processes and eligibility requirements.
05
Ensure compliance with all local, state, and federal regulations related to CDBG program income.
06
Review all entries for accuracy and completeness before final submission.
07
Submit the filled manual to the designated authority for review.
Who needs CDBG Program Income and Revolving Loan Fund Manual?
01
Local government officials responsible for community development programs.
02
Nonprofit organizations managing CDBG funds.
03
Financial institutions involved in lending practices under the CDBG program.
04
Community members interested in understanding the funding mechanisms for local development projects.
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People Also Ask about
Do you have to pay back a CDBG grant?
GRANT REPAYMENTS Prior to making a repayment, grantees must consult with their local HUD Field Office to determine the procedure to be followed. HUD will direct the grantee to repay the funds either to the letter of credit or to the local CDBG account.
Are CDBG grants federal?
What is a Community Development Block Grant (CDBG)? The Community Development Block Grant is a federally funded grant program administered by the U.S. Department of Housing and Urban Development (HUD), aimed to assist low to moderate-income communities in community development projects.
Can CDBG loans be forgiven?
If the grantee awards CDBG homeownership assistance as a loan, can it be forgivable? Yes. A grantee may require the homeowner to remain in the unit for a selected period after it is purchased. If the homeowner does so, the balance of the loan is forgiven.
What is the purpose of the CDBG program?
The Community Development Block Grant (CDBG) Program provides annual grants on a formula basis to states, cities, and counties to develop viable urban communities by providing decent housing and a suitable living environment, and by expanding economic opportunities, principally for low- and moderate-income persons.
Do you have to pay back a CDBG grant after?
If CDBG funds are spent, but the project is not finished within a reasonable period of time, HUD will determine that no National Objective was met and will require that all funds expended be repaid out of non-federal dollars.
Can CDBG loans be forgiven?
If the grantee awards CDBG homeownership assistance as a loan, can it be forgivable? Yes. A grantee may require the homeowner to remain in the unit for a selected period after it is purchased. If the homeowner does so, the balance of the loan is forgiven.
What is program income for HUD?
Program income is the income received by the recipient or subrecipient directly generated by a grant-supported activity. Some examples include income from fees for services performed and rent and occupancy charges paid directly to the recipient or subrecipient by program participants.
Do you have to pay back non-profit grants?
A nonprofit grant is a sum of money awarded to a nonprofit organization that doesn't need to be repaid. Grants for nonprofits are typically distributed by government agencies, corporations or foundations.
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What is CDBG Program Income and Revolving Loan Fund Manual?
The CDBG Program Income and Revolving Loan Fund Manual provides guidelines and procedures for the management of funds received from the Community Development Block Grant (CDBG) program, specifically focusing on income generated from CDBG-funded projects and the administration of revolving loan funds.
Who is required to file CDBG Program Income and Revolving Loan Fund Manual?
Entities that receive CDBG funding and generate program income or manage a revolving loan fund are required to adhere to the guidelines laid out in the CDBG Program Income and Revolving Loan Fund Manual.
How to fill out CDBG Program Income and Revolving Loan Fund Manual?
To fill out the CDBG Program Income and Revolving Loan Fund Manual, entities should follow the specified instructions provided in the manual, which typically includes sections for reporting income sources, expenditure details, and any compliance measures taken.
What is the purpose of CDBG Program Income and Revolving Loan Fund Manual?
The purpose of the CDBG Program Income and Revolving Loan Fund Manual is to ensure proper oversight, accountability, and compliance regarding the use and reporting of program income and revolving loan funds within the CDBG program.
What information must be reported on CDBG Program Income and Revolving Loan Fund Manual?
Entities must report information such as the amount of program income generated, details about the expenditures of these funds, the status of any revolving loan funds, and compliance with regulatory requirements.
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