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Want More Information?
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Application Kit
The application kit is available in both Word
and PDF. For additional information, please contact
Mr. Thann Young at (202) 708-2290.
PDF
| Word
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Regulations
governing the Recovery Fund
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For
A Nonprofit Organization
A
nonprofit organization may apply to a Financial Institution. The
application shall include:
- a
description of the assistance needed, including eligible activities;
- a
statement of other funds available to finance the eligible activities;
- a
certification from the nonprofit organization that the activities
to be assisted resulted from an act of arson or terrorism;
- a
certification by a Qualified Certification Official (QCO) that
the damage or destruction to be remedied resulted from an act
of arson or terrorism;
- environmental
documentation required under the regulations;
- replacement
information on the damaged/destroyed structure;
- construction/rebuilding
plans for the new structure; and
- other
information required by the Financial Institution.
For
A Financial Institution
A Financial Institution shall submit its request for a loan guarantee
to HUD. The submission is to include:
- the
nonprofit's application;
- a
narrative of the Financial Institution's underwriting standards
used in underwriting the nonprofit's loan request that includes
an analysis of the nonprofit organization's ability to pay loan
debt service and the value of the collateral assigned or pledged
as security for the repayment of the loan. (In refinancing transactions,
advise HUD of any premium or discount to be assessed);
- the
interest rate on the loan (which rate shall take into account
the value of the HUD guarantee) plus any fees to be charged; and
- the
percentage of the loan for which a guarantee is requested.
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