Rural Innovation Fund
The Department of Housing and Urban Development's mission is to increase homeownership, support community development and increase access to affordable housing free from discrimination. HUD fulfills this mission through high ethical standards, management and accountability, and by forming partnerships with community organizations.
Program Accomplishments
Not Applicable.
Uses and Use Restrictions
Assistance may be used for a wide range of innovative housing and economic development activities that address the problems of concentrated rural housing distress and community poverty.
Eligibility Requirements
Applicant Eligibility
Applicants are limited by law to Federally recognized Indian tribes, State housing finance agencies, State community and/or economic development agencies, local rural nonprofits and community development corporations.
Beneficiary Eligibility
Beneficiaries are typically lower-income families and households and businesses that are the result of the applicant"s program undertaken to address the problems of concentrated rural housing distress and community poverty.
Credentials/Documentation
OMB Circular A-87 applies to local governments and A-122 Applies to non-profit organizations. OMB Circular No. A-87 applies to this program.
Aplication and Award Process
Preapplication Coordination
Preapplication coordination is required.
An environmental impact assessment is required for this program.
This program is excluded from coverage under E.O.
12372.
Application Procedures
OMB Circular No. A-102 applies to this program. OMB Circular No. A-110 applies to this program. OMB Circular A-102 applies to governmental entities and is codified in HUD"s regulations at 24 CFR Part 85. OMB Circular A-110 is applicable to non-profit entities and is codified in HUD"s regulations at 24 CFR Part 84.
Award Procedures
The Rural Fund program is competitive. HUD posts a Notice of Funding Availability (NOFA) on its website HUD.GOV. Applicants submit applications through Grants.Gov. HUD reviews rates applications against selection criteria. All applications are rank ordered consistent with the NOFA. Awards are made following the completion of the competition.
Deadlines
Contact the headquarters or regional office, as appropriate, for application deadlines.
Authorization
The Consolidated Appropriations Act, 2010,, Public Law 111-117.
Range of Approval/Disapproval Time
From 90 to 120 days.
Appeals
HUD provides non-selected applicants with a written debriefing following the award announcements. HUD will accept requests to fe-review the application if an apparent error was made.
Renewals
Not Applicable.
Assistance Considerations
Formula and Matching Requirements
This program has no statutory formula.
This program has no matching requirements. One of the program"s competitive selection criteria provides points to applicants that provide additional sources of funds to carry out the project as evidenced by a firm financial commitment.
This program does not have MOE requirements. Grant awards provide for a 36 month project period.
Length and Time Phasing of Assistance
Assistance is normally available for 36 months. Federal Law limits the availability of funding for approximately 5 years after award. See 31 U.S.C. 1551-1557. Method of awarding/releasing assistance: by letter of credit.
Post Assistance Requirements
Reports
Semi-annual progress reports and reports on accomplishments using the Department"s Logic Model.
Standard Federal cash reports.
HUD Logic Model HUD Form 96010.
No expenditure reports are required.
No performance monitoring is required.
Audits
In accordance with the provisions of OMB Circular No. A-133 (Revised, June 27, 2003), "Audits of States, Local Governments, and Non-Profit Organizations," nonfederal entities that expend financial assistance of $500,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Nonfederal entities that expend less than $500,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in Circular No. A-133.
Records
No Data Available.
Financial Information
Account Identification
86-0162-0-1-451.
Obigations
(Project Grants (Cooperative Agreements or Contracts)) FY 09 $0; FY 10 est $25,000,000; FY 11 est $0 - 2010 is the first fiscal year funds are authorized. No budget request was made for 2011.
Range and Average of Financial Assistance
First year of program, range and average unknown.
Regulations, Guidelines, and Literature
Not Applicable.
Information Contacts
Regional or Local Office
None.
Headquarters Office
Robert M. Duncan, 451 7th Street, SW, Room 7140, Washington, District of Columbia 20410 Email: Robert.Duncan@HUD.GOV Phone: (202) 402-4681.
Criteria for Selecting Proposals
Selection criteria are based upon a published Notice of Funding Availability.
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