| (a) Contract Award Funding Limits. Limits on the total
amount of a Contract award will be established in the NOFA.
(b) Contract Award Terms. Homeowner Reconstruction
Assistance awards will have a Contract term of not more than 21 months,
exclusive of any applicable affordability period or loan term. Single
Family Development awards will have a Contract term of not more than
24 months, exclusive of any applicable affordability period or loan
term. Tenant-Based Rental Assistance awards will have a Contract term
of not more than 36 months.
(c) Contract Award Benchmarks. Administrators must
have attained environmental clearance for the contractually required
number of Households served within six months of the effective date
of the Contract. Contract Administrators must submit to the Department
complete Activity setup information for the Commitment of Funds of
all contractually required Households in accordance with the requirements
herein within nine months from the effective date of the Contract.
All remaining funds will be deobligated and reallocated in accordance
with Chapter 1 of this Title relating to Reallocation of Financial
Assistance.
(d) Voluntary deobligation. The Administrator may fully
deobligate funds in the form of a written request signed by the signatory,
or successor thereto, of the Contract. The Administrator may partially
deobligate funds under a Contract in the form of a written request
from the signatory if the letter also deobligates the associated number
of targeted Households, funds for administrative costs, and Match
and the partial deobligation would not have impacted the award of
the Contract. Voluntary deobligation of a Contract does not limit
an Administrator's ability to participate in an open application cycle.
(e) The Department may request information regarding
the performance or status under a Contract prior to a Contract benchmark
or at various times during the term of a Contract. Administrator must
respond within the time limit stated in the request. Prolonged or
repeated failure to respond may result in suspension of funds and
ultimately in termination of the Contract by the Department.
(f) Pre-Contract Costs.
(1) The Administrator may be reimbursed for eligible
administrative and Activity soft costs incurred before the effective
date of the Contract in accordance with 24 CFR §92.212 and at
the sole discretion of the Department.
(2) A Community Housing Development Organization may
be reimbursed for Predevelopment Costs as defined in this Chapter
for an Activity funded under Single Family Development.
(3) In no event will the Department reimburse expenses
incurred more than six months prior to Governing Board approval of
the Administrator's award.
(g) Amendments to Contract awards will be processed
in accordance with Chapter 20 of this Title, relating to Single Family
Programs Umbrella Rule.
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