[Code of Federal Regulations]

[Title 24, Volume 3]

[Revised as of April 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR576.51]



[Page 223-224]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

  CHAPTER V--OFFICE OF ASSISTANT SECRETARY FOR COMMUNITY PLANNING AND 

        DEVELOPMENT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 576_EMERGENCY SHELTER GRANTS PROGRAM: STEWART B. McKINNEY HOMELESS 

ASSISTANCE ACT--Table of Contents

 

                     Subpart E_Program Requirements

 

Sec.  576.51  Matching funds.



    Source: 54 FR 46799, Nov. 7, 1989, unless otherwise noted. 

Redesignated at 61 FR 51550, Oct. 2, 1996.





    (a) General. Each grantee, other than a territory, must match the 

funding provided by HUD under this part as set forth in 42 U.S.C. 11375. 

The first $100,000 of any assistance provided to a



[[Page 224]]



recipient that is a State is not required to be matched, but the benefit 

of the unmatched amount must be shared as provided in 42 U.S.C. 

11375(c)(4). Matching funds must be provided after the date of the grant 

award to the grantee. Funds used to match a previous ESG grant may not 

be used to match a subsequent grant award under this part. A grantee may 

comply with this requirement by providing the matching funds itself, or 

through matching funds or voluntary efforts provided by any State 

recipient or nonprofit recipient (as appropriate).

    (b) Calculating the matching amount. In calculating the amount of 

matching funds, in accordance with 42 U.S.C. 11375(a)(3), the time 

contributed by volunteers shall be determined at the rate of $5 per 

hour. For purposes of this paragraph, the grantee will determine the 

value of any donated material or building, or of any lease, using a 

method reasonably calculated to establish a fair market value.



[61 FR 51552, Oct. 2, 1996]