24 CFR 570.494 - Timely distribution of funds by states.

§ 570.494 Timely distribution of funds by states.
(a) States are encouraged to adopt and achieve a goal of obligating and announcing 95 percent of funds to units of general local government within 12 months of the state signing its grant agreement with HUD.
(b) HUD will review each state to determine if the state has distributed CDBG funds in a timely manner. The state's distribution of CDBG funds is timely if:
(1) All of the state's annual grant (excluding state administration) has been obligated and announced to units of general local government within 15 months of the state signing its grant agreement with HUD; and
(2) Recaptured funds and program income received by the state are expeditiously obligated and announced to units of general local government.
(c) HUD may collect necessary information from states to determine whether CDBG funds have been distributed in a timely manner.

Title 24 published on 2014-04-01.

No entries appear in the Federal Register after this date, for 24 CFR Part 570.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

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United States Code

Title 24 published on 2014-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR Part 570 after this date.

  • 2015-02-05; vol. 80 # 24 - Thursday, February 5, 2015
    1. 80 FR 6469 - Section 108 Loan Guarantee Program: Announcement of Proposed Fee To Cover Credit Subsidy Costs and Solicitation of Comment
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, Office of the Assistant Secretary for Community Planning and Development, HUD
      Notice.
      Comment Due Date: March 9, 2015.
      24 CFR Part 570