SPONSOR’S
RESOLUTION FOR COMMITMENT
TO PROJECT
U.S.
Department of Housing
OMB
Approval No. 2502-0267
(exp
11/30/2013)
Public
reporting burden
for this collection of information is estimated to average .40
hours per response, including the time for reviewing instructions,
searching existing data sources, gathering and maintaining the data
needed, and completing and reviewing the collection of information.
HUD may not collect this information, and you are not required to
complete this form, unless it displays a currently valid OMB
control number.
This
collection of information is required for HUD’s Supportive
Housing for the Elderly under Section 202 and Supportive Housing
for Persons with Disabilities under Section 811. The information is
necessary to assist HUD in determining applicant eligibility and
ability to develop housing for
the elderly and for persons with disabilities within statutory and
program criteria. A thorough evaluation of an applicant’s
qualifications and capabilities
is critical to protect the Government’s financial interest
and to mitigate any possibility of fraud, waste, or mismanagement
of public funds. This collection of information does not collect
any sensitive information. HUD does not ensure confidentiality.
TO:
Secretary of Housing and Urban Development
SUBJECT:
Section
202 Program - Application for Fund Reservation
Sponsor:
Project
Location:
1.
WHEREAS,
under the Section 202 Program for Supportive Housing for the
Elderly, the Sponsor
acknowledges
its responsibilities of sponsorship, long-term support, its
willingness to assist the Owner to
develop,
own, manage and provide appropriate services in connection with the
proposed project, and it reflects the
will of its membership. The Sponsor is required to make a
commitment to cover the estimated start-up expenses,
the minimum capital investment of 1/2 of one percent of the
HUD-approved capital advance, not to exceed
$25,000 ($10,000 for sponsors not affiliated with a national
sponsor) and the estimated cost of any amenities
or features (and operating costs related thereto) which would not
be covered by the approved capital advance.
OR
Whereas,
under the Section 811 Program of Supportive Housing for Persons
with Disabilities, the Sponsor
acknowledges its responsibilities of sponsorship, long-term
support, its willingness to assist the Owner
to develop, own, manage and provide appropriate services in
connection with the proposed project, and that
it reflects the will of its membership. The Sponsor is required to
make a commitment to cover the estimated
start-up expenses, the minimum capital investment of 1/2 of one
percent of the HUD-approved capital
advance, not to exceed $10,000 and the estimated cost of any
amenities or features (and operating costs
related thereto) which would not be covered by the approved capital
advance.
2.
provide
those funds can best be assured by requiring a resolution of the
Board of Directors that funds will be made available for such
purposes.
WHEREAS,
HUD has determined that assurance by the Sponsor of its commitment
and willingness to
3.
NOW,
THEREFORE, the Board of Directors of the Sponsor hereby resolves
and agrees that funds will be
available for the subject project to meet estimated start-up
expenses, the minimum capital investment and the
estimated cost of any amenities or features (and operating costs
related thereto) which would not be covered
by the approved capital advance.
Adopted
and approved by
of
the Sponsor on the
day
of
,
Authorized
Signature
Page
1 of 1
form
HUD-92042
(08/2003)
and Urban Development
Office
of Housing
Federal Housing Commissioner
Section 811
Program - Application for Fund Reservation
File Type | application/msword |
Author | h18889 |
File Modified | 0000-00-00 |
File Created | 2021-01-29 |