Notice of Neighborhood Stabilization Program; Closeout Requirements and Recapture

HUD published “Notice of Neighborhood Stabilization Program; Closeout Requirements and Recapture” in the Federal Register.

A copy of the notice may be found here: http://www.gpo.gov/fdsys/pkg/FR-2012-11-27/pdf/2012-28642.pdf

The Notice revises the requirements set forth in the Unified Neighborhood Stabilization Program (NSP) Notice to provide the grant closeout framework for all three rounds of NSP funding by minimally adjusting the Community Development Block Grant (CDBG) closeout requirements. Following publication of this notice, HUD will update issued CDBG closeout guidance (CPD Notice 12–0004) to incorporate specific operating instructions for closeout of NSP grants. These instructions will create an NSP closeout process that is nearly identical to the CDBG closeout process and place both sets of instructions in a single document. This approach takes advantage of NSP grantee (and HUD field staff) familiarity with the CDBG closeout procedures because, by the time of grant closeout, almost every NSP grantee will have completed closeout of a CDBG Recovery Act grant.

The CDBG close out guidance may be found here: http://portal.hud.gov/hudportal/documents/huddoc?id=12-04cpdn.pdf