SPONSOR’S
CONFLICT OF INTEREST
RESOLUTION
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:
The Secretary of Housing and Urban Development
SUBJECT:
Section 202 Program - Application for Fund Reservation Section
811 Program - Application for Fund Reservation
Sponsor:
Project
Location:
WHEREAS,
Section 202 of the Housing Act of 1959, as amended, authorizes the
making of capital advances
for housing for the elderly to private, nonprofit corporations, OR
Section 811 of the National
Affordable
Housing Act of 1990, as amended, authorizes the making of capital
advances to nonprofit
corporations
for housing for persons with disabilities, no part of the net
earnings of which inure to the benefit of any member, founder,
contributor or individual;
WHEREAS,
HUD has implemented this statutory requirement by promulgating a
regulation providing that the Sponsor may not be controlled by or
under the direction of persons or firms seeking to derive profit or
gain therefrom. The regulation also prohibits any officer or
director of the Sponsor from having any financial interest
in any contract in connection with the rendition of services, the
provision of goods or supplies, procurement
of furnishings or equipment, construction of the project,
procurement of the site or any other matters
whatsoever, except with respect to management or supportive
services contracts entered into by the Owner
with the Sponsor or its nonprofit affiliate.
WHEREAS,
HUD has determined that assurance of compliance with this
prohibition can best be obtained
by requiring that all officers and directors of the Sponsor certify
that they do not have and will not have
during their term of office, any prohibited financial interest.
WHEREAS,
because of the time constraints imposed under the application
process and difficulties in meeting
these deadlines caused by such factors as large boards and
unavailability of officers and directors of the
board, some prospective Sponsors have been unable or experienced
hardship in obtaining all of the required
certifications for submission with the applications for fund
reservation.
WHEREAS,
HUD is willing to defer submission of the required Sponsors’
Conflict of Interest and Disclosure
Certifications until the submission of the firm commitment
applications by those Owners for which fund
reservations were approved, if such certifications are provided by
all the Sponsor’s officers and directors listed
below, who are duly qualified and sitting in these capacities from
the date of the Sponsor’s fund reservation
application.
Page
1 of 2
form
HUD-92041
(1/2003)
and Urban Development
Office
of Housing
Federal Housing Commissioner
Page
1 of 2
form
HUD-92041
(1/2003)
[LIST
THE NAME, TITLE, AND THE BEGINNING AND ENDING DATES OF THE TERM OF
ALL OFFICERS AND
DIRECTORS]
NOW,
THEREFORE, in order to induce HUD to forego requiring submission of
the Conflict of Interest and
Disclosure Certifications until after projects have been selected
and fund reservations granted, it is hereby resolved
and agreed by the Board of Directors of the Sponsor:
1.
That it will submit an updated Incumbency Certificate, in a form
prescribed by HUD, showing all changes
in incumbency for submission with the Owner’s Application for
Firm Commitment, initial closing and final
closing.
2.
That no officer or director of the Sponsor has or will be permitted
to have any prohibited interest which
would prevent him or her from signing the required Conflict of
Interest and Disclosure Certification.
3.
That the fund reservation will be subject to cancellation by HUD if
the officers or directors of either the
Sponsor or the Owner fail to submit Conflict of Interest and
Disclosure Certifications duly executed by each and all of their
respective officers and directors.
4.
That no HUD capital advance funds or project rental assistance
funds will be expended on account of
any contract or arrangement where a conflict of interest is
determined to exist, and the Sponsor shall be responsible
for the payment of any and all obligations involving its officers
and directors.
5.
That should any contract or arrangement entered into by the Owner
be determined by HUD to
involve
a conflict of interest, involving either the Sponsor’s or
Owner’s officers or directors,
the
Sponsor will exercise its best efforts to cause the Owner to
promptly cancel or terminate such contract or arrangement
at HUD’s request.
Adopted
and approved by the Board of Trustees of the Sponsor on the
day
of
,
Authorized
Signature
Page
2 of 2
form
HUD-92041
(1/2003)
File Type | application/msword |
Author | h18889 |
File Modified | 0000-00-00 |
File Created | 2023-10-18 |