HUD Form 40177 Attachment A Grant Closeout and Recapture of Unspent Gra

U.S. Department of Housing and Urban Development

Community Planning and Development

Attachment: A

Dear _______________:

SUBJECT: Grant Closeout and Recapture of Unspent Grant Funds Neighborhood Stabilization Program (specify which NSP program)

Grant Number: xxxxxxxxx

[Insert name of jurisdiction] (hereinafter referred to as the “Grantee”) was awarded a Neighborhood Stabilization (NSP) [insert 1, 2 or 3] grant in the amount of [inset amount] pursuant to the [Housing and Economic Recovery Act of 2008, the American Recovery and Reinvestment Act of 2009 or the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010] on [date], also identified as grant number [insert grant number].

It appears that the activities are completed and the grant is ready for closeout. In accordance with the grant closeout procedures found in the Notice of Neighborhood Stabilization Program Closeout Requirements and Recapture, any unspent (name the grant program) funds remaining in the account of an expired grant period are to be recaptured. As of ______ our records indicate that your (name the grant program) grant has a remaining balance of______.

In general, program income generated from the use of (name the grant program) funds continued to be treated as program income, subject to all of the applicable NSP regulations unless otherwise stated in the Notice of Neighborhood Stabilization Program Closeout Requirements and Recapture. In order to proceed with this grant closeout and recapture of the remaining funds, the following documentation should be submitted by the grantee.

• An inventory of any real property and equipment purchased with grant funds

• Relevant Sections of the enclosed “Neighborhood Stabilization Program Grantee Closeout Certification” signed by the grantee’s authorized representative

• A completed Management Plan for Continued Affordability

• A Plan detailing how any property in a land bank will meet the 10 year maximum land holding requirement Neighborhood Stabilization Program Management Plan for Continued Affordability. This plan should include a list of all NSP property in the Land Bank.

• Neighborhood Stabilization Program Closeout Checklist

The Grantee Closeout Certification has been partially-completed for your review and your signature confirms the accuracy of the information. HUD retains the right to monitor and follow up on monitoring and audit findings. In addition, the Department may recover disallowed costs for ineligible activities or actions in 24 CFR part 570, subpart I or O, or pursue other sanctions, if

HUD Form 40177

HUD determines that the information provided by the grantee was false, erroneous or did not meet statutory or regulatory requirements.

Please return the signed Certification and the other listed documents to our Office. If you have any questions, please contact your CPD Representative (NAME/ CONTACT INFO).

Sincerely,

Enclosure CPD Director

HUD Form 40177