NSP2 50% Expenditure Deadline Procedures
HUD has released guidance to their field offices on the NSP2 deadline procedures. NSP2 grantees with reported exenditures less than 50% of the grant allocation will be receiving letters from HUD. Drawdowns are a proxy for reported expenditures, but are not the ultimate measure of success. Each grantee must use the QPR module to report expenditures as of Close of Business Feb 11. HUD held a special webinar on the 50% deadline, and how to calculate expenditures correctly on Thursday, January 26, 2012. Click here to learn more.
SOURCE: The U.S. Department of Housing & Urban Development