[Code of Federal Regulations]
[Title 24, Volume 3]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR570.428]

[Page 97]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
  CHAPTER V--OFFICE OF ASSISTANT SECRETARY FOR COMMUNITY PLANNING AND 
        DEVELOPMENT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 570_COMMUNITY DEVELOPMENT BLOCK GRANTS--Table of Contents
 
                     Subpart F_Small Cities Program
 
Sec. 570.428  Reallocated funds.

    (a) General. This section governs reallocated funds originally 
allocated for use under 24 CFR part 570, subpart F (Small Cities 
Program).
    (b) Assignment of funds to be reallocated. Reallocated funds may be:
    (1) Used at any time necessary for a Section 108 repayment grant 
under Sec. 570.432;
    (2) Added to the next Small Cities Program competition;
    (3) Used to fund any application not selected for funding in the 
most recent Small Cities competition, because of a procedural error made 
by HUD; or
    (4) Used to fund the most highly ranked unfunded application or 
applications from the most recent Small Cities Program competition.
    (c) Timing. Funds which become available shall be used as soon as 
practicable.