Release of funds
Release of funds (for purposes of environmental review). Release of funds in the case of the project-based voucher program, under 24 CFR 58.1(6)(iii) and 983.58, means that HUD approves the local PHA's Request for Release of Funds and Certification by issuing a Letter to Proceed (in lieu of using form HUD-7015.16) that authorizes the PHA to execute an agreement to enter into housing assistance payment contract (AHAP) or, for existing housing, to directly enter into a HAP with an owner of units selected under the PBV program.