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Commonly, grantees generate program income by loaning CDBG funds for property acquisition, housing rehabilitation, down payment assistance, or economic development assistance. When beneficiaries repay these loans, the money returned is called program income.
- CDBG Memorandum: CDBG Program Income
This CDBG memorandum provides HUD guidance on CDBG program...
- CDBG Memorandum: CDBG Program Income
This Chapter defines what program income is, explains the required Program Income Plan, and describes requirements for managing, using, and reporting program income to Grants Administration. This Chapter also includes forms for preparing a Program Income Plan and a Program Income Annual Report.
This chapter provides an overview of all of the requirements applicable to the financial management of the CDBG Program. Administrative and planning costs including those costs that are eligible under other categories of eligibility will be covered.
Chapter 1: Overview of the Program Income: Grantees may select any of three definitions of income: (1) Annual income as defined under Section 8; (2) Annual income as reported under the Census long form; or (3) Adjusted gross income as defined by the IRS Form 1040. Low and Moderate Income: Low and moderate income (also referred to in this manual as
26 lip 2024 · Definition of Program Income. "Program income" is defined as gross income generated from the use of CDBG-DR/MIT funds. This includes the following: Proceeds from the disposition by sale or long-term lease of real property; Proceeds from the disposition of equipment, Gross income from the use or rental of real or personal property, Payments of ...
This CDBG memorandum provides HUD guidance on CDBG program income. Resource Links. CDBG Memorandum: CDBG Program Income (PDF)
• CDBG-CV program income will be recorded as annual CDBG formula grant program income in local accounting records. • Any CDBG-CV program income generated will be receipted in HUD's Integrated
