The U.S. Department of Housing and Urban Development (HUD) has issued guidance for Housing Trust Fund (HTF) grantees, as well as the first report on the status of initial trust fund commitments in 2016 and disbursements.
Notice CPD-18-12 outlines commitment and expenditure requirements, as well as how HUD determines compliance with deadline requirements. It describes how HUD uses data to determine compliance with the 24-month commitment and 5-year expenditure deadlines, and gives examples of the types of documents that do and do not constitute evidence of compliance, and points stakeholders (HUD staff and grantees) to where to find reports and information on grants status.
These monthly reports assist grantees and HUD Field Offices in monitoring compliance with the 2-year commitment requirement of the Housing Trust Fund (HTF) statute and the 5-year expenditure requirement of the HTF regulations.
The HTF regulation at § 93.400(d)(1) and (2) states that HUD will reduce or recapture funds in the HTF Treasury account by the amount of any fiscal year grant funds that are not committed within 24 months and any fiscal year grant funds that are not expended within 5 years after the date of HUD's execution of the HTF grant agreement, and will be reallocated to all HTF grantees in the subsequent year allocation, except those from whom funds were recaptured.
Read the first report on state commitments and expenditures so far.
Additional resources on Housing Trust Funds:
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