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HUD Issues New Guidance on FY2012 and FY2013 HOME Appropriations Requirements
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HUD has published Notice CPD-14-08, revised Operating Guidance for Implementing FY2012 and FY2013 HOME Appropriations Requirements.
This Notice explains the following:
- How the requirements of the FY2012 and FY2013 Appropriation Laws (contained in the Consolidated and Further Continuing Appropriations Act of 2012 and the Consolidated and Further Continuing Appropriations Act of 2013) apply to PJs’ 2012 and 2013 HOME projects
- How PJs must comply with the requirements
- How HUD will determine PJ compliance with these requirements
The four statutory appropriations requirements addressed in this Notice are:
- Four-year project completion deadline
- Assessment of project underwriting, developer capacity, and market need
- Six-month deadline for sale of homebuyer units
- CHDO development capacity
The Notice also explains in detail how the implementation and applicability of these requirements is affected by the HOME Final Rule, which was published on July 24, 2013. PJs should review the guidance for additional information on the following:
- Comparison of the statutory requirements imposed by the 2012 Appropriations Law (and explained in CPD Notice 12-007) to the requirements imposed by the 2013 Appropriations Law
- Whether a HOME project will be subject to both 2013 Final Rule and 2012/2013 Appropriation Laws requirements (charts and decision trees included in the Notice help PJs to understand which requirements apply and when)
- Comparison of the Appropriation Laws requirements to the requirements contained in the new HOME rule
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