572.210—Implementation grants.

(a) General authority. Any implementation grants for the purpose of carrying out homeownership programs approved under this part will be awarded using a selection process and selection criteria to be published in a NOFA.
(b) Deadline for completion. A recipient must spend all implementation grant amounts within 4 years from the effective date of the grant agreement. The appropriate HUD field office may approve a request to extend the deadline when it determines that an extension is warranted. A previously approved grant amount may not be amended to increase the grant amount.
(c) Program closeout. Recipients will comply with closeout procedures as issued by HUD.

Code of Federal Regulations

[62 FR 34145, June 24, 1997]