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Single Family New Construction Policy Manual 2 CONTENTS ................................ ................................ ................................
............................... 2 1 Program Overview ................................ ................................
................................ ................ 5 1.
1 Purpose of the Policy Manual ................................ ................................ ......................
5 1. 2 Program Description ................................ ................................
................................ .... 5 2 Program Administration ................................
................................ ................................ 7 2.
1 Overview ................................ ................................ ................................
...................... 7 2. 2 CDBG -DR Eligible Counties ................................
................................ ......................... 7 2.
3 Eligible Applicants ................................ ................................ ................................
........ 8 2. 4 Certified Grant Administrator Requirements ................................
................................ . 8 2.
5 Disbursement of Funds ................................ ................................ ................................
8 2. 6 National Objectives ................................ ................................
................................ ...... 8 2.
7 Statement of Need ................................ ................................ ................................
....... 9 2. 8 New Con struction Single Family Unit Funding ................................
............................. 9 2. 8.
1 Maximum Award ................................ ................................ ...............................
9 2. 8. 2 Terms of Funding ................................
................................ ............................. 10 3 Unit Standards for Construction of Single Family Units ................................
............ 10 3. 1.
1 Unit Size and Amenities ................................ ................................ ...................
10 3. 1. 2 New Construction Housing Accessibility Requirements: ................................
... 10 3. 1.
3 Green Building Requirements ................................ ................................ ..........
11 3. 2 Sale of Units to Income Eligible Homebuyers ................................ ..............................
12 3. 2. 1 SINGLE FAMILY NEW CONSTRUCTION UNDERWRITING STANDARDS ....
12 3. 2. 2 Housing Debt (Front -End Ratio) ................................
................................ ....... 12 3.
2. 3 Total Debt (Back -End Ratio) ................................ ................................
............. 12 3. 2.
4 Assets ................................ ................................ ................................
.............. 12 3. 2.
5 Other Loan Terms ................................ ................................ ............................
13 3. 2. 6 Subsidy Limit s ................................
................................ ................................ ..
13 3. 2. 7 Homebuyer Counseling ................................
................................ .................... 13 3.
3 Homebuyer Income Eligibility ................................ ................................ ......................
13 3. 4 Long Term Affordability Requirements ................................ ................................
........ 15 3. 5 Program Policies ................................
................................ ................................ .........
16 3. 5. 1 Limited English Proficiency (LEP) ................................
................................ ..... 16 3 3.
5. 2 Subrecipient Language Access Plan ................................ ................................
16 3. 6 Fair Housing and Civil Rights ................................ ................................
...................... 18 3. 7 URA ................................
................................ ................................ ............................
18 4 Repayment Policy ................................ ................................ ................................
......... 19 4. 1 Conflict of Interest ................................
................................ ................................ .......
19 4. 2 Reporting Requirements and File Management ................................ ..........................
20 4. 2. 1 Reporting Requirements ................................
................................ ................... 20 4.
2. 2 File Management ................................ ................................
.............................. 20 4. 3 Complaints and Appeals ................................
................................ ............................. 21 4.
3. 1 Section 504 Coordination Complaints and Grievances ................................ .....
21 4. 3. 2 Grievances Received by Grantees ................................
................................ ... 22 4.
3. 3 Grievances Received by DLG ................................ ................................
.......... 22 4. 3.
4 Beneficiary Program Appeals ................................ ................................ ...........
22 5 Eligibility ................................ ................................ ................................
........................ 23 5. 1 Ineligible Activities ................................
................................ ................................ .......
23 5. 1. 1 Required participation in the National Flood Insurance Program ......................
24 6 City or County Government Subrecipient Application ................................ ............... 24 6.
1 Application Process ................................ ................................ ................................
.... 24 6. 2 Application Method ................................
................................ ................................ .....
24 6. 3 Application Requirements ................................ ................................
........................... 25 6. 4 Withdrawn Applications ................................
................................ ............................... 25 6.
4. 1 Voluntary Withdrawals ................................ ................................
...................... 25 6. 4.
2 Administrative Withdrawals ................................ ................................ ..............
26 6. 5 Subrecipient Award Notification ................................ ................................
.................. 26 6. 5.
1 Hombuyer Application Intake ................................ ................................ ............
27 6. 6 Non -profit partners ................................ ................................
................................ ...... 27 7 Duplication of Benefits ................................
................................ ................................ .
27 8 Beneficiary Grant Determination and Award ................................ .............................. 28 8.
1. 1 Ineligible Costs ................................ ................................
................................ . 28 8.
1. 2 Manufactured Housing Units ................................ ................................
............ 28 8. 2 Homebuyer Grant Agreement ................................
................................ ..................... 29 8.
3 Lien Agreement ................................ ................................ ................................
.......... 29 9 Pre -Construction ................................ ................................
................................ ........... 30 4 9.
1 Inspections ................................ ................................ ................................
................. 30 9. 2 Bonding Requirements ................................
................................ ............................... 31 9.
3 Pre -Construction Conference ................................ ................................ ......................
31 9. 4 General Contractor Responsibilities ................................ ................................
............ 32 9. 5 Grievances ................................
................................ ................................ .................
33 9. 6 Construction Warranties ................................ ................................
.............................. 33 9. 7 Section 3 ................................
................................ ................................ .....................
33 10 Construction ................................ ................................ ................................
................. 34 10. 1 Notice to Proceed ................................
................................ ................................ .......
35 10. 2 Construction Monitoring ................................ ................................
.............................. 35 10. 2.
1 New Construction Housing Accessibility Requirements: ................................ ... 36 10.
3 Payments ................................ ................................ ................................
.................... 36 10. 3.
1 Retainage ................................ ................................ ................................
......... 37 10. 3.
2 Final Inspections ................................ ................................ ..............................
37 10. 3. 3 Change Orders ................................
................................ ................................ .
37 10. 3. 4 Final Payment ................................
................................ ................................ ..
38 10. 3. 5 Retainage from Final Payment ................................
................................ ......... 38 10.
4 General Contractor Performance Review ................................ ................................ ....
38 10. 5 Construction Clo seout ................................ ................................
................................ . 39 11 Compliance and Monitoring ................................
................................ ......................... 39 12 Program Closeout ................................
................................ ................................ .........
39 12. 1. 1 Project Closeout ................................
................................ ............................... 39 12.
1. 2 DOB Du e Diligence and Monitoring ................................ ................................
.. 40 13 Records Management ................................ ................................
................................ ... 40 13.
1 National Objectives ................................ ................................ ................................
..... 40 13. 2 Beneficiary Records ................................
................................ ................................ ....
40 13. 3 Audit ................................ ................................
................................ ........................... 40 13.
4 Personally Identifiable Information (PII) ................................ ................................ .......
41 13. 5 Environmental Review ................................ ................................
................................ 41 14 Definitions ................................ ................................
................................ ..................... 41 5 # 1.
1 Purpose of the Policy Manual This policy manual provides policy guidelines for subrecipients and developers to participate in the program.
It includes information on important topics such as: Who is eligible to receive program assistance What type of structures can be constructed Types of eligible program costs and unit requirements Process, compliance, and documentation requirements to participate What an approved participant must do before and after they get assistance Who is eligible to buy a unit and the underwriting requirements to determine the level of affordability assistance What additional resources are available to help subrecipients move forward How to appeal a program decision .
Please note that throughout this policy manual the term subrecipients refer to the applicants to the program; City and County governments . Navigating the Policy : Users of this policy can jump from one section to another by clicking on the headers within the table of contents or by clicking on the side headers on the left -hand side of the document, which appear when clicking on the right -facing arrow.
This policy will reference the CDBG -DR Subrecipient M anual located on the DLG Disaster website Kentucky DLG - DRP Grants . Subrecipients should review th is manual in conjunction with the Subrecipient Manual to un derstand roles and responsibilities if # 1.
2 Program Description The Single -Family New Construction program will provide funding subsidies for the construction of single -family structures (one to four unit structures ) to be sold to income eligible households to replace homeownership units. The program will provide funds to assist builders and developers to build new affordable homeownership units in the disaster -impacted areas.
The new units will incorporate green and r esilient building practices to mitigate future risks of hazards. City, county, and tribal governments will apply to DLG with a detailed proposal for the development of single family new construction units that will be affordable homebuyer units for househ olds impacted by the disaster.
Applicants receiving funding will 6 function as a subrecipient and oversee the unit development and the sale of the units to income eligible households. Affordability a ssistance will be provided to eligible home buyer benefici aries to ensure the terms of the financing will be within the DLG affordability standards. DLG will provide award s to subrecipients for eligible projects.
Subrecipients must work with a certified grant administrator to oversee the housing development including the environmental review, construction management, and the qualification of eligible homebuyers. For more on the certified grant administrator requi rement please refer to Section 2. 2 of this policy.
Eligible subrecipient applicants may work with qualified for profit or non -profit developers to plan and undertake the Funding awards will be made to the subrecipients who will then execute an agreement with the developer to lock in the project scope, affordability requirements, and the overlay of CBDG -DR and other federal requirements.
Each Singl e Family New Construction award will be based on the DLG approved budget for both unit constructi on and infrastructure. The subrecipient and developer will be responsible for marketing the units to eligible buyers including screening for duplication of benefits and all homebuyer eligibility requirements.
The subrecipient will complete the homebuyer applicant information packet including the affordability review and proposed affordability assistance for each buyer and submit for DLG review prior to finalizing a binding sales agreement.
Subrecipients recipient grant administration responsibilities include but not limited to • Duplication of Benefits Verification • Green Building Requirements • Completion of the Initial Homebuyer Underwriting • Monitoring construction • Construction grievances • Compliance with all applicable c ross -cutting federal requirements All projects will be monitored by DLG for compliance during construction and closeout.
7 # 2 Program Administratio n City and county governments will apply to DLG and assume the role of the responsible entity to operate a single family new construction program. Eligible subrecipient applicants will need to partner with a for -profit or non -profit developer to provide the needed capacity to develop and sell single family affordable housing units.
Applications for funding will need to present evidence of adequate capacity to oversee all aspects of the project. Subrecipients must work with a certified grant adm inistrator to assist with application development, grant administration, and activity delivery. Home buyer beneficiaries will apply to the entity jurisdiction or their implementation partner for participation in the program.
DLG is responsible for developing and amending the CDBG -DR Public Action Plan, program policies and procedures, ensuring program and other cross -cuttin g federal regulatory compliance, providing technical assistance to subrecipients, procurement oversight, and financial management. # 2.
2 CDBG -DR Eligible Counties The counties that are eligible for CDBG -DR are those a reas of greatest impact from a disaster as determined by HUD or the State in making disaster funding allocations, using the best available data sources to calculate the amount of HUD has identified the following MID areas for the 2021 KY disasters : • Breathitt County (41339) Kentucky has decided to expand the HUD -identified MID areas in ZIP codes 41339 and 42101 to include the entire counties of Breathitt and Warren.
In addition to HUD’s identified MIDs, Kentucky ha s identified the following counties as eligible for CDBG -DR funding: Boyd County, Caldwell County, Christian County, Clark County, Clay County, Estill County, Floyd County, Fulton County, Greenup County, Hart County, Hickman County, Jackson County, Johnson County, Knott County, Laurel County, Lawrence County, Lee County, L eslie County, Letcher County, Lincoln County, Logan County, Lyon County, Madison County, Magoffin County, Marion County, Marshall County, Martin County, Morgan County, Muhlenburg County, Ohio County, Owsley County, Perry County, Powell County, Pulaski Coun ty, Rockcastle County, and Taylor # 2.
3 Eligible Applicants Local cities and counties eligible to apply for the Kentucky Single Family New Construction Program as subrecipients. Subrecipients are responsible for documenting all homebuyers meet the eligibi lity requirements below. Open Application Applications will accepted until all funds have been obligated.
DLG will receive the applications and make funding decisions based on competitiveness and completeness of the application, justification for funding, and feasibility of the project. City, county, and tribal governments will apply to DLG to develop programs that will fund eligible homeowners. # 2.
4 Certified Grant Administrator Requirements The Commonwealth of Kentucky requires that individuals administering CDBG -DR funds be officially certified by DLG as CDBG -DR Administrators. Chapter 1: Project Administration, Section 1 -B provides more information on the requirements of the Certified Grant Administrator.
To be certified as a CDBG -DR Administrator, first ti me attendees must participate in the DLG -sponsored CDBG -DR Administrator Certification training. The CDBG -DR training occurred in June, 2023. Once administrators have been certified, DLG will maintain an updated list of certified CDBG -DR Administrators.
T he list will be frequently # 2. 5 Disbursement of Funds Once funding is awarded and all required agreements and contracts are fully executed, program disbursements will be available to subrecipients. The grant agreement specifies which evidentiary materials are required for submission to DLG.
DLG must receive and approve these materials before the grantee may expend any project funds for specified activities. Those evidentiary materials and release of funds procedure are detailed in Chapter 1 of th e Subrecipient Manual, Section 1 -D. # 2.
6 National Objectives Assistance provided under this program will meet the national objectives of benefiting LMI persons or households or addressing an urgent need. The program may use the Urgent Need national objective to assist eligible disaster -impacted homeowners with incomes greater than 80% AMI only with permission from DLG.
The national objective will be met based on applicant’s household income verified at the time of award by the jurisdiction to the ben eficiary. Low -Mod Housing (LMH ): All program assistance and activity delivery costs provided to or on behalf of low - and moderate -income households. A household is LMI if their household income is at or below 80% of the area median income (AMI).
Subrecipients must track all LMI benefic iaries per HUD requirements using the following income ranges and categories: 9 ▪ 0% - 30% AMI Extremely Low Household income will be determined based on the total number of persons in the household and total annual incom e of each household member 18 years and older. See Section 4. 5 for additional information on the income verification process.
Urgent Need (UN) : HUD allows for the use of the urgent need (UN) national objective when existing conditions pose serious and imm ediate threat to health/welfare of community, the existing conditions are recent or recently became urgent, and the recipients cannot finance the activities on their own because other funding sources are not available.
All assistance and activity delivery costs provided to or on behalf of households with incomes at or above 80% of the AMI will be classified under UN.
Subrecipients can use the UN national objective for households with incomes greater than 80% of the AMI because all homeowners are required to meet applicant and property eligibility criteria, which include demonstrating their eligible owned primary residence was damaged or destroyed by the 2021 Severe Storms, Flooding, Landslides, and Mudslides (DR -4595 ), damaged or destroyed by the 2021 Severe Storms, Straight - line Winds, Flooding, and Tornadoes (DR -4630) and they have a remaining unmet need.
Each approved application will describe the type, scale, and location of the disaster - related impact that will be addressed through the project. KCDBG -DR funds have been allocated in the Action Plan to add replacement units of homeownership single family housing in communities that have lost a portion of their housing inventory based on the impact of the disasters.
DLG will be evaluatin g housing proposals based on their impact on meeting the housing needs identified within the HUD Housing market study which is posted on the DLG Disaster website . Applicants will be required in their application to show how their proposed project address es the needs identified in the HUD Housing market study and provide justification of the level need for the requested fund .
Documentation of need would include lists of local residents and displaced residents seeking to purchase a unit in the # 2. 8 New Construction Single Family Unit Funding DLG is setting a maximum award of $ 200,000 p er unit in the form of a loan for construction of a single family homebuyer unit and any on -site infrastructure such as water and sewer lines from the unit to the connection in the public right of way.
Additionally, KCDBG -DR funds are available for overall site development and infras tructure costs including streets, sidewalks, drainage, utilities, and site 10 development costs such as grading and clearance. Site development and infrastructure funds will be provided in the form of a grant . DLG will consider exceptions to the maximum awar d amounts when necessary and in compliance with federal regulations.
KCDBG -DR funds will be provided to the subrecipient in the form of a loan for unit construction and other on -site costs. At the closing for sale of the unit to an income eligible buyer, sales proceeds will be payable to DLG minus the developer fee and any funds that were provided to the buyer in the form of a secondary mortgage as an affordability subsidy.
KCDBG -DR funds provided to the subrecipient for site development and infrastructure will be provided in the form of a grant based on the project meeting the housing national objective with the sale of the units to income eligible buyers. Failure to complete an eligible sale of each of the units would trigger the repayment of the portion of overall site development and infrastructure costs per unit for ineligible units.
# 3 Unit Standards for C onstruction of Single # 3. 1. 1 Uni t Size and Amenities The following minimum square foot measurements are required for different types of units.
For purposes of this requirement, net square feet are the heated and cooled area of the unit. a) One -bedroom and Efficiency units: shall conta in at least 600 net b) Two -bedroom units: shall contain at least 800 net square feet c) Three -bedroom units: shall contain at least 1,000 net square feet d) Four -bedroom units: shall contain at least 1,100 net square feet.
Exception: DLG may approve exceptions on a case -by -case basis after reviewing the proposed unit and the intended homebuyer’s household needs. # 3. 1.
2 New Construction Housing Accessibility Requirements: KCDBG -DR funded hous ing is subject to the accessibility req uirements of the Fair Housing Act, as amended. For housing purposes, an 11 accessible dwelling unit is on an accessible route and has features inside.
Under Section 504: Under the Fair Housing Act: HUD CPD Notice 00 -09 Accessibility Notice: Sec tion 504 of the Rehabilitation Act of 1973 and the Fair Housing Act 7 -10 October 2021 All newly constructed units in buildings with four or more units that are on the ground level or can be reached by an elevator must be made accessible. The accessibil ity standard is outlined in the Fair Housing Act.
This standard is often referred to as “adaptable,” and is generally a less stringent standard of # 3. 1. 3 Green Building Requirements All subrecipients must meet the Green and Resilient Building Standards.
These standards are different for different types of rehabilitation and reconstruction. Below are definitions as well as descriptions of the requirements. Chapter 11 of the subrec ipient manual should be referenced for links to the standards and the compliance checklists associated with them.
Chapter 11 will also include the method of implementing and monitoring compliance with the requirements both before and after construction. The Green and Resilient Building Standard requires that construction assisted with CDBG -DR funds meet an industry -recognized standard which has achieved certification.
Reference chapter 11 in the Subrecipient Manual for more information on the standard s and the required form (11 -1) to submit to DLG about the selection of your chosen standard. The selected standard and any additional documentation regarding compliance must be included within the project file.
The subrecipient shall engage a reviewer • Will review the proposed project plans and specifications to ensure that the approach is aligned with the selected standard(s), • Will perform inspections throughout the construction process to ensure that the project adheres to the selected standard(s), and • Will provide final certification at the conclusion of construction to ensure that the standards were met.
The reviewer or inspector shall use the selected standard’s compliance checklist documentation when reviewing the file at each pred etermined point. 12 # 3. 2 Sale of Units to Income Eligible Homebuyers # 3.
2. 1 SINGLE FAMILY NEW CONSTRUCTION UNDERWRITING KCDBG -DR subrecipients must ensure that homebuyers receiving CDBG -DR affordability assistance receive an appropriate level of funding to en sure sustainability of homeownership while not being over -subsidized. As such, DLG has adopted the following minimum underwriting criteria to ensure the appropriate amount of KCDBG -DR assistance is directed toward each homebuyer.
KCDBG -DR subrecipients may impose more restrictive underwriting criteria; however, more lenient standards are not allowed. Subrecipients will complete the KCDBG -DR Benefit Profile for Assisted Homebuyers - Attachment A to determine the size of a mortgage that will be affordable for each household.
The subrecipient will submit the underwriting template for DLG review prior to finalizing a purchase agreement with each potential homebuyer. # 3. 2.
2 Housing Debt (Front -End Ratio) The Front -End Ration is total principal, inte rest, taxes and insurance for the mortgage(s) as a percentage of the gross household income. DLG has established a tiered standard for KCDHG -DR homebuyers. Households with income at or below 50% must have a front -end ration between 20 -24.
99% . Households with incomes about 50% must have a front -end ration between 25 -30% as calculated by the Underwriting template . The front -end rations are held to these standards to ensure the financing will be affordable , meaning the minimum ratio of principal, interest, taxes, and insurance (PITI) to gross monthly income cannot be less than set range or exceed t he standard range.
Th e underwriting process ensure s the household is only receiving enough CDBG -DR affordabilit y assistance to complete the transaction and is not over -subsidized but has a mortgage(s) that are affordable and sustainable even if the household experiences limited unanticipated expenses . # 3. 2.
3 Total Debt (Back -End Ratio) The maximum back -end ratio is 41 percent, meaning that long -term debt (six months or longer) plus PITI cannot exceed 41 percent of gross monthly income.
Requests to exceed this standard may be submitted to DLG for consideration on a case -by -case CDBG -DR Subrecipients must have a liquid asset policy and establish a method to evaluate liquid assets and the ability of assisted homebuyers to financially contribute to the acquisition of their home. All KCDBG -DR -assisted homebuyers must contribute a minimum of $250 to the purchase of the home.
Exceptions to this standard may be requested if the only source of household income is Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI). Homebuyers with non -home ass ets of more than $50,000 are ineligible for assistance.
13 DLG requires that KCDBG -DR subrecipients providing homebuyer affordability assistance in the form of a secondary loan must examine the terms of all other loans a homebuyer will receiv e, particularly any private mortgages, to ensure the terms are reasonable and sustainable.
If a loan contains terms and conditions that are predatory or harmful to the homebuyer (such as excessive fees or interest rates, balloon payments, adjustable intere st rates, etc.), the homebuyer will not be eligible for KCDBG -DR assistance from the DLG.
KCDBG -DR program allows a maximum development subsidy of $200,000 of which all except the developer fee can be provided in the form of a secondary mort gage based on the affordability underwriting template. The level of affordability subsidy needed will be determined on a household basis utilizing the underwriting template, Attachment A.
All buyers will receive a minimum of $1000 in closing cost assis tance : assistance is excess of the $1000 minimum must be supported by the underwriting template ’s # 3. 2. 7 Homebuyer Counseling Homebuyer counseling is required for all homebuyers assisted with KCDBG -DR funds.
All eligible applicants will need to provide proof of completion of homebuyer counseling from a HUD certified agency and counselor prior to the commitment of KCDBG -DR # 3. 3 Homebuyer Income Eligibility Every applicant purchasing a KCDBG -DR funded single family uni t must be documented as income eligible prior to executing a binding sales agreement.
The applicant must be at 80% or less of area median income – these limits are updated by HUD on an annual basis. DLG will distribute updates to all subrecipients who d o income certifications each year when HUD issues the updated income eligibility limits.
As a part of the application to purchase the KCDBG -DR assisted single family units, the applicant must provide information on income and asset sources as they pertain to the Part 5 definition.
Applicants are not required to remain income eligible over the term of the affordability period but they must be documented as income eligible at the point of commitment of the KCDBG -DR assistance or the use of the funds would b e considered ineligible and trigger a repayment of the KCDBG -DR funds. These policies and procedures outline the KCDBG -DR standards and policies on how income eligibility will be determined.
Staff can use the online Income Calculator found on the H UD Exchange at https://www. hudexchange. info/incomecalculator/ to document and print out the income determination for each household.
These procedures are based on the Part 5 definition of Income. It is important to remember that under the Part 5 definition assets are part of the income calculation. If the cash value of assets is 14 greater than $5,000, an imputed asset calculation must be completed and compared to the actual income received from assets.
• Income (regular, periodic payments) o Social Security Disability Insurance (SSDI) or Social Security Supplemental Income (SSI) – obtain current year’s Social Security Administration (SSA) award letter o Employment – obtain 3 months of statements for sheltered workshop jobs or if other employment , 4 current and sequential pay statements.
o Veterans Administration (VA) – obtain current year’s award letter o Railroad Retirement – obtain current annual statement o Self - employed –obtain the most recent tax return and base projected income based on the prio r year earnings unless the business owner can provide support documentation for why the prior year earnings are not a o Parental support payment – obtain court -ordered payment for disabled o Other income sources may include disabl ed children of parents who held various occupations such as coal miner, teacher, etc. – obtain o Checking accounts – obtain a few months of statements to include an average balance (note: Technical Guide says average 6 month balance which HUD has rescinded).
o Saving accounts – obtain most recent statement and use current value o Retirement (applicant can access prior to turning of age – 401(k), IRA, etc. accounts) – obtain most recent statement o Whole life insurance policies (note: term l ife insurance is not counted because it cannot be accessed while living) At the time of income eligibility determination, staff will conduct the following step by 1.
Staff reviews the income eligibility documentation for income and asset sourc es. Complete an income eligibility determination form, including imputed asset calculation as applicable (Attachment 6: Income Determination Form). 2.
If the income eligibility documentation is incomplete, staff will clarify with the applicant what docume nts are needed to complete the eligibility determination and the application will be placed on hold until the additional documentation has 3. Staff compares income eligibility determination form to the income limits to ensure the applicant is below the Low Income Limit (80% of area median 4.
Once the income eligibility documentation is completed and is accepted, staff places the income eligibility determination form and accompanying documentation in the applicant’s file. 5. The date of the income eligibility determination must be completed.
Income determinations are considered valid for six months. If the commitment of assistance has not been completed within 6 months of the income determination, the documentation will need to be updated and the income recalculated to determine if the applicant remains eligible for assistance. # 3.
4 Long Term Affordability Requirement s All Recipient Agencies receiving an allocation of KCDBG -DR funds to undertake homebuyer activities will be required to utilize the recapture provision as described by the HOME regulations at 24 CFR 92. 254(a)(ii)(A)(2) - Reduction During the Affordability Period.
This provision will be enforced by including appropriate language in the KCDBG -DR agreement with the homebuyer, mortgage documents, and lien documents. The assisted homebuyer must reside in the home as his/her principal residence for the duration of the period of affordability.
In the event the homebuyer transfers the property, either voluntarily or inv oluntarily, during the period of affordability, DLG or the KCDBG -DR subrecipient or developer will recapture all or a portion of the "direct" KCDBG -DR assistance provided to the homebuyer from the available net proceeds.
The direct KCDBG -DR assistance is t he total amount of KCDBG - DR assistance that enables the buyer to purchase the unit, including: downpayment and closing cost assistance, interest subsidies, and other assistance provided directly to the homebuyer (e.g., soft second mortgage), and if applica ble, the amount that reduces the purchase price from fair market value The portion recaptured by KCDBG -DR subrecipient or developer on behalf of DLG will be a pro -rata amount of the direct KCDBG -DR assistance.
The total amount of t he loan will be reduced for each year that the owner occupies the unit. For instance, for each year of a five -year affordability period, one -fifth of the amount of the KCDBG -DR assistance will be forgiven. To make the determination of what is forgiven: (Nu mber of years the buyer occupied the originally provided to the homebuyer = amount forgiven.
Total amount of direct KCDBG -DR assistance – the amount forgiven = Recapture Amount. In the event net proceeds of the sale are insufficient to repay the amount owed, recaptured funds will be equal to net proceeds, and the loan will be considered satisfied. Net proceeds are defined as the sales price of the home minus superior loan repayment ( not including KCDBG -DR loans) and any closing costs paid by the seller.
The recapture provision is in effect for a period of affordability that is based on the amount of direct KCDBG_DR assistance to the buyer, as follows: 16 Amount of Direct Assistance to Bu yer Period of Affordability Under $15,000 5 years $15,000 to $40,000 10 years Over $40,000 15 years .
Ms. Mary Smith purchases a home for $225,000 in June of 2024 and received $20,000 in direct KCDBG -DR assistance from ABC nonprofit (who is a Recipient Agency using KCDBG_DR) funds from DLG). Ms. Smith sells the house in August 2029, after the fifth year of affordability. As a result, 50 percent of her loan is forgiven and a balance of $10,000 is
Based on current listing details, eligibility includes: See the Kentucky grants portal for complete eligibility requirements. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates See official notice Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is rolling deadlines or periodic funding windows. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
Federal grant success rates typically range from 10-30%, varying by agency and program. Build a strong proposal with clear objectives, measurable outcomes, and a well-justified budget to improve your chances.
Requirements vary by sponsor, but typically include a project narrative, budget justification, organizational capability statement, and key personnel CVs. Check the official notice for the complete list of required attachments.
Yes — AI tools like Granted can help research funders, draft proposal sections, and check compliance. However, always review and customize AI-generated content to reflect your organization's unique strengths and the specific requirements of the solicitation.
Review timelines vary by funder. Federal agencies typically take 3-6 months from submission to award notification. Foundation grants may be faster, often 1-3 months. Check the program's timeline in the official solicitation for specific dates.
Many federal programs offer multi-year funding or allow competitive renewals. Check the official solicitation for continuation and renewal policies. Non-competing continuation applications are common for multi-year awards.