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Detailed Section 3 Closeout Form for Capital Projects Unit, ensuring compliance with HUD requirements for low-income worker assistance.
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What is section 3 closeout form?
The Section 3 Closeout Form is a document used to report on the activities and financial aspects of a project funded by federal assistance, specifically in relation to compliance with Section 3 of the Housing and Urban Development Act.
Who is required to file section 3 closeout form?
Entities that receive federal assistance for projects subject to Section 3 requirements are required to file the Section 3 Closeout Form, which includes contractors and subcontractors involved in the project.
How to fill out section 3 closeout form?
To fill out the Section 3 Closeout Form, gather the necessary project data, including financial expenditures, the number of Section 3 residents hired, and other relevant employment information, and complete the form as specified by the HUD guidelines.
What is the purpose of section 3 closeout form?
The purpose of the Section 3 Closeout Form is to ensure compliance with Section 3 regulations, facilitating the reporting of employment and economic opportunities generated for low- and very low-income individuals in connection with HUD-funded projects.
What information must be reported on section 3 closeout form?
The Section 3 Closeout Form must report information such as total project expenditures, the number of Section 3 jobs created, the demographics of the new employees, and the efforts made to achieve Section 3 compliance.
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