[Code of Federal Regulations]
[Title 24, Volume 1]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR92.62]

[Page 584-585]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
PART 92_HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents
 
                      Subpart B_Allocation Formula
 
Sec. 92.62  Review of program description and certifications.

    (a) Review of program description. The responsible HUD Field Office 
will review an insular area's program description and will approve the 
description unless the insular area has failed to submit information 
sufficient to allow HUD to make the necessary determinations required 
for Sec. 92.61 (b)(4), (b)(6), and (b)(7), or the guidelines under 
(b)(8) are not satisfactory to HUD, if applicable; or if the level of 
proposed projects or eligible activities is not within the management 
capability demonstrated by past performance in housing and community 
development programs. If the insular area has not submitted information 
on Sec. 92.61 (b)(4), (b)(6), and (b)(7), or the guidelines under 
(b)(8) are not satisfactory to HUD, if applicable; or if the level of 
proposed projects or eligible activities is not within the management 
capability demonstrated by past performance in housing and community 
development programs, the insular area may be required to furnish such 
further information or assurances as HUD may consider necessary to find 
the program description and certifications satisfactory. The HUD Field 
Office shall work with the insular area to achieve a complete and 
satisfactory program description.
    (b) Review period. Within thirty days of receipt of the program 
description, the HUD Field Office will notify the insular area if 
determinations cannot be made under Sec. 92.61 (b)(4), (b)(6), (b)(7), 
or (b)(8) with the supporting information submitted, or if the proposed 
projects or activities are beyond currently demonstrated capability. The 
insular area will have a reasonable period of time, agreed upon 
mutually, to submit the necessary supporting information or to

[[Page 585]]

revise the proposed projects or activities in its program description.
    (c) HOME Investment Partnership Agreement. After HUD Field Office 
approval under this section, a HOME funds allocation is made by HUD 
execution of the agreement, subject to execution by the insular area. 
The funds are obligated on the date HUD notifies the insular area of 
HUD's execution of the agreement.