[Federal Register Volume 78, Number 47 (Monday, March 11, 2013)]
[Notices]
[Page 15374]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-05526]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-5447-C-01]
Notice of Formula Allocations and Program Requirements for
Neighborhood Stabilization Program Formula Grants; Correction
AGENCY: Office of the Assistant Secretary for Community Planning and
Development, HUD.
ACTION: Notice of Formula Allocations and Program Requirements for
Neighborhood Stabilization Program Formula Grants; Correction.
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SUMMARY: On October 19, 2010, HUD published the ``Notice of Formula
Allocations and Program Requirements for Neighborhood Stabilization
Program Formula Grants'' (Unified NSP Notice) in the Federal Register,
at 75 FR 64322. That notice provided unified program requirements for
the NSP1 grantees and NSP3 grantees. The allocation formula,
application process and program requirements for NSP1 grantees were
originally published in an October 6, 2008 Federal Register Notice at
73 FR 58330 and amended by a June 19, 2009, April 9, 2010, and an
August 27, 2010 Federal Register Notice at 74 FR 29223, 75 FR 18228 and
75 FR 52772, respectively. This notice is revising the Unified NSP
Notice to include the provision of corrective action(s) or sanctions
among HUD's remedial actions for failure of NSP1 grantees to meet the
four year expenditure requirement.
FOR FURTHER INFORMATION CONTACT: Stanley Gimont, Director, Office of
Block Grant Assistance, Office of Community Planning and Development,
Department of Housing and Urban Development, 451 Seventh Street SW.,
Room 7286, Washington, DC 20410, telephone number 202-708-3587 (this is
not a toll-free number). Persons with hearing or speech impairments may
access this number via TTY by calling the Federal Relay Service at 800-
877-8339. FAX inquiries may be sent to Mr. Gimont at 202-401-2044.
SUPPLEMENTARY INFORMATION:
Program Background and Purpose
The Neighborhood Stabilization Program (or NSP) was established by
the Housing and Economic Recovery Act of 2008 (HERA) (Pub. L. 110-289,
approved July 30, 2008), specifically Division B, Title III of HERA,
for the purpose of stabilizing communities that have suffered from
foreclosures and abandonment. HERA appropriated $3.92 billion to be
made available to all states and selected local governments on a
formula basis, commonly referred to as NSP1.
The purpose of the funds awarded under NSP is to target the
stabilization of neighborhoods negatively affected by properties that
have been foreclosed upon and abandoned. The Unified NSP Notice
provides further background for the program, the program principles,
and the objectives and outcomes of the NSP program.
NSP is a component of the CDBG program, authorized under Housing
and Community Development Act of 1974 (HCD Act) (42 U.S.C. 5301 et
seq.).
Summary of Corrections
M. Timeliness of Use and Expenditure of NSP Funds
Background
This notice is revising section II.M of the Unified NSP Notice to
include providing for corrective action(s) or sanctions among HUD's
remedial actions for failure of NSP1 grantees to meet the 4 year
expenditure requirement. As provided in the ``Background'' of section M
of the Unified NSP Notice, HUD intended that recapture, corrective
actions or sanctions be among the available remedies for all NSP
grantees. However, two of these remedies were inadvertently omitted
from the requirement. This revision adds the omitted language.
Revised Requirement
Section II.M.2 of the Unified NSP Notice is revised to read:
Timely expenditure of NSP1 funds. The timely distribution or
expenditure requirements of sections 24 CFR 570.494 and 570.902 are
waived to the extent necessary to allow the following alternative
requirement: All NSP1 grantees must expend on eligible NSP activities
an amount equal to or greater than the initial allocation of NSP1 funds
within 4 years of receipt of those funds or HUD will recapture and
reallocate the amount of funds not expended or provide for other
corrective action(s) or sanction.
Dated: March 1, 2013.
Mark Johnston,
Deputy Assistant Secretary for Special Needs.
[FR Doc. 2013-05526 Filed 3-8-13; 8:45 am]
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