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Home My WebLink About20181773.tiffU. S. Department of Housing and Urban Development Community Planning and Development Tom Teixeira, Executive Director Weld County Housing Authority P.O. Box 130 Greeley, CO 80632 Dear Mr. Teixeira: Region VIII, Denver 1670 Broadway Street Denver, Colorado 80202-4801 May 31, 2018 Phone: 303-672-5414 Fax: 303-672-5028 Web: www.hud.eov The U.S. Department of Housing and Urban Development (HUD) is encouraging its partners in the Neighborhood Stabilization Program (NSP) to emphasize closing NSP grant(s). From 2008 through 2011, in three separate funding rounds (NSP1, NSP2, and NSP3), Congress awarded over $6.8 billion to state and local governments and select nonprofits to stabilize neighborhoods damaged by properties that had been foreclosed upon and abandoned. Over 97% of that grant funding has been spent, along with 87% of the $1.75 billion received in program income. These funds helped to rehabilitate 50,994 single and multi -family units, demolish 24,422 sub -standard housing structures, construct 16,886 new housing units and provide homebuyer assistance to 16,126 American households. Below is a summary of the county's open NSP grants and reporting. Appropriation Grant Amount PI Earned Funds Remaining as of 05/30/2018 Date of Last Draw Date of Last QPR Grant PI NSP3 $1,023,188.00 $566,472.44 $24,464.55 $437,018.74 02/19/2014 04/30/2015 Your obligation to expend at least 25% of all funds to benefit households with incomes at or below 50% of the Area Median Income has been met. For Congressional leaders and citizens to be aware of the success of the program, accurate and timely data must be reported in the DRGR system. Currently, activities remain open, but have been stalled or not fully reported. Your community's participation will not be fully recognized for the stabilizing impact it has had on our economy without good, accurate data. Please make this a priority in 2018. HUD is asking for the county's help in bringing your NSP grant to a close. If all activities funded with grant funds are complete and have met a national objective, and DRGR financial data reconciles with local financial records, the grant can be closed. Closing a NSP grant closes the grant program funded with grant funds (line of credit); the program can continue CorelK.) cu+;0rn3 c c.• FX/CiCTCawiec,), HOXCTT) Qot8'- 1'1?3 ()Cott v - ocatoH I g F-tAO©31 2 using program income. If all or most of a grantee's NSP funds (line of credit funds) have been drawn, HUD's NSP team is available to assist grantees with strategies to reach the finish line. Grantees with program income may have a difficult time drawing grant funds since program income must be drawn before grant funds. This leaves some NSP grantees with substantial amounts of grant funds which they are unable to access. To remedy this situation, HUD now allows NSP grantees to transfer some or all program income that is on -hand to their Community Development Block Grant (CDBG). This permits a grantee to then draw on any grant funds remaining in their line -of -credit. If a grantee would like to discontinue reporting quarterly in DRGR, we have a solution. Once a grant is closed (line -of -credit closed), reporting is reduced to about 40 hours annually instead of the current 160 hours needed for reporting. Remember too that after closeout, reporting ceases when affordability and land bank long-term requirements are met. The appropriation accounting provisions added by section 1405 of the National Defense Authorization Act for Fiscal Year 1991 (Pub. L. 101-510), limit the availability of certain appropriations for expenditure. Such a limitation may not be waived." Therefore, any NSP grantee without grant funds drawn in the two consecutive fiscal years, may be subject to HUD's determination that the funds are no longer needed, and those funds may be subject to recapture. If applicable, closing out would be to a grantee's advantage before HUD takes any action pursuant to Public Law 101-510. For 2018, HUD's goal is to close at least 30 percent of remaining NSP grants. Your help is needed. Headquarters has assigned desk officers to each Region for NSP and developed tools, webinars, and other materials to support the HUD field office staff and grantees in closing out NSP grants. Additionally, technical assistance is available to assist any grantee getting ready to close out. This free assistance can address issues such as stalled activities and data clean up in the DRGR. You may request technical assistance directly by sending a message to n,pp- c Tc,tions,0 hud.1ov°. Please include the following information: 1) Grantee point of contact information; 2) Which grant program requires assistance: NSP1, NSP2 or NSP3; 3) The nature of the issue: DRGR/QPR and/or programmatic. Please contact me or Phillip McKeough, Program Manager, at PhiIIip.E.ibicKeoueh a hud.s2ov if you have any questions or need more information. Sincerely, Aaron B. Gag Regional Director cc: Steve Moreno, Weld County Commissioner Chair Hello