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Demolition and Revitalization of Severely Distressed Public Housing

Published on AidPage by IDILOGIC on Jun 24, 2005

Assistance considerations...

Length and Time Phasing of Assistance

Each year's grant agreement sets out the requirements regarding timetables and milestones.

Formula and Matching Requirements

Funds are provided to PHAs to cover the capital cost of a project. PHAs use operating subsidies to operate the project upon completion. FY 1993-1995 grantees are required to provide contributions from the City for supportive services in an amount equal to 15 percent of the HOPE VI grant for supportive services. Starting in FY 1999, Grantees must provide a 5 percent overall match, and if more than 5 percent of the grant is used for Community and Supportive Services, any amount over that 5 percent must be matched.

Note:
A formula may be based on population, per capita income, and other statistical factors. Applicants are informed whether there are any matching requirements to be met when participating in the cost of a project. In general, the matching share represents that portion of the project costs not borne by the Federal government. Attachment F of OMB Circular No. A-102 (Office of Management and Budget) sets forth the criteria and procedures for the evaluation of matching share requirements which may be cash or in-kind contributions made by State and local governments or other agencies, institutions, private organizations, or individuals to satisfy matching requirements of Federal grants or loans.

Cash contributions represent the grantees' cash outlay, including the outlay of money contributed to the grantee by other public agencies, institutions, private organizations, or individuals. When authorized by Federal regulation, Federal funds received from other grants may be considered as the grantees' cash contribution.

In-kind contributions represent the value of noncash contributions provided by the grantee, other public agencies and institutions, private organizations or individuals. In-kind contributions may consist of charges for real property and equipment, and value of goods and services directly benefiting and specifically identifiable to the grant program. When authorized by Federal legislation, property purchased with Federal funds may be considered as grantees' in-kind contribution.

Maintenance of effort (MOE) is a requirement contained in certain legislation, regulations, or administrative policies stating that a grantee must maintain a specified level of financial effort in a specific area in order to receive Federal grant funds, and that the Federal grant funds may be used only to supplement, not supplant, the level of grantee funds.