[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: 24CFR582.410]



[Page 250]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

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

        DEVELOPMENT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 582_SHELTER PLUS CARE--Table of Contents

 

                        Subpart E_Administration

 

Sec.  582.410  Obligation and deobligation of funds.



    (a) Obligation of funds. When HUD and the applicant execute a grant 

agreement, HUD will obligate funds to cover the amount of the approved 

grant. The recipient will be expected to carry out the activities as 

proposed in the application. After the initial obligation of funds, HUD 

is under no obligation to make any upward revisions to the grant amount 

for any approved assistance.

    (b) Deobligation. (1) HUD may deobligate all or a portion of the 

approved grant amount if such amount is not expended in a timely manner, 

or the proposed housing for which funding was approved or the supportive 

services proposed in the application are not provided in accordance with 

the approved application, the requirements of this part, and other 

applicable HUD regulations. The grant agreement may set forth other 

circumstances under which funds may be deobligated, and other sanctions 

may be imposed.

    (2) HUD may readvertise, in a notice of fund availability, the 

availability of funds that have been deobligated, or may reconsider 

applications that were submitted in response to the most recently 

published notice of fund availability and select applications for 

funding with the deobligated funds. Such selections would be made in 

accordance with the selection process described in Sec.  582.220 of this 

part. Any selections made using deobligated funds will be subject to 

applicable appropriation act requirements governing the use of 

deobligated funding authority.



(Approved by the Office of Management and Budget under control number 

2506-0118)