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Program income is subject to the CDBG rules in perpetuity. Some examples of Program Income include: and. Payments of principal and interest on loans made using CDBG funds; Proceeds from sale or (long-term) lease of property purchased or improved with CDBG funds; Proceeds from the sale of obligations secured by loans made with CDBG funds.
This chapter provides an overview of all of the requirements applicable to the financial management of the CDBG Program. Administrative and planning costs including those costs that are eligible under other categories of eligibility will be covered. CDBG policies and rules
For owners of microenterprises that state they are low and moderate income, Form 1040 tax forms and tax forms filed by the business that show the businesses’ income may be provided to document the owner’s or owners’ status as low- and moderate-income. For CDBG-CV, HUD has granted a waiver for the LMI jobs national objective to streamline ...
This Chapter defines what program income is, explains the required Program Income Plan, and describes requirements for managing, using, and reporting program income to Grants Administration. This Chapter also includes forms for preparing a Program Income Plan and a Program Income Annual Report.
LMI Overall Benefit Calculation. Based on actual CDBG-DR expenditure (drawdown) when the LMI national objective is met. Includes program income receipts and expenditures. Does not include planning and administration expenditures.
Learn through self-paced online trainings, recorded webinars, and more. Request in-depth assistance with implementing a HUD-funded program. Search for a specific grantee and view its awards, contact information, and reports, and more. Find award and allocation amounts for grantees by year, program, and state.
Program Income Requirements. Program Income must be spent prior to additional CDBG-DR or MIT withdrawals. Program Income in the form of repayments to a revolving fund must be disbursed from the fund prior to additional cash withdrawals made from the U.S. Treasury.
