[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

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

[CITE: 24CFR92.60]



[Page 596-597]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 92_HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents

 

                      Subpart B_Allocation Formula

 

Sec.  92.60  Allocation amounts for insular areas.



    (a) Initial allocation amount for each insular area. The initial 

allocation amount for each insular area is determined based upon the 

insular area's population and occupied rental units compared to all 

insular areas.

    (b) Threshold requirements. The HUD Field Office shall review each 

insular area's progress on outstanding allocations made under this 

section, based on the insular area's performance report, the timeliness 

of close-outs, and compliance with fund management requirements and 

regulations, taking into consideration the size of the allocation and 

the degree and complexity of the program. If HUD determines from this 

review that the insular area does not have the capacity to administer 

effectively a new allocation, or a portion of a new allocation, in 

addition to allocations currently under administration, HUD may reduce 

the insular area's initial allocation amount.

    (c) Previous audit findings and outstanding monetary obligations. 

HUD shall not make an allocation to an insular area that has either an 

outstanding audit finding for any HUD program, or an outstanding 

monetary obligation to HUD that is in arrears, or for which a repayment 

schedule has not been established. This restriction



[[Page 597]]



does not apply if the HUD Field Office finds that the insular area has 

made a good faith effort to clear the audit and, when there is an 

outstanding monetary obligation to HUD, the insular area has made a 

satisfactory arrangement for repayment of the funds due HUD and payments 

are current.

    (d) Increases to the initial allocation amount. If funds reserved 

for the insular areas are available because HUD has decreased the amount 

for one or more insular areas in accordance with paragraphs (b) or (c) 

of this section, or for any other reason, HUD may increase the 

allocation amount for one or more of the remaining insular areas based 

upon the insular area's performance in committing HOME funds within the 

24 month deadline, producing housing units described in its program 

description, and meeting HOME program requirements. Funds that become 

available but which are not used to increase the allocation amount for 

one or more of the remaining insular areas will be reallocated in 

accordance with Sec.  92.66.

    (e) Notice of allocation amounts. HUD will notify each insular area, 

in writing, as to the amount of its HOME allocation.