Common use of CSS Endowment Trust Clause in Contracts

CSS Endowment Trust. The Grantee may deposit up to 15 percent of the HOPE VI Grant amount (the maximum amount of the grant allowable for CSS programs) into an endowment trust to provide CSS activities (the "Endowment Trust"). (a) The Grantee may not draw down funds provided under this Grant Agreement for deposit into an Endowment Trust until it has a HUD- approved Endowment Trust plan and has executed with HUD an addendum to this Grant Agreement (the "HOPE VI Endowment Trust Addendum"), as directed by HUD. The HOPE VI Endowment Trust Addendum establishes the requirements governing the establishment, operation, and management of an Endowment Trust. (b) In reviewing the amount of the Grantee's proposed allocation of HOPE VI Grant funds to an Endowment Trust, HUD will take into account the Grantee's demonstrated ability to pay for current CSS activities with HOPE VI or other funds, and the projected long-term sustainability of the Endowment Trust to carry out such activities. (c) Endowment Trust funds (including any non-HOPE VI funds donated or otherwise made available to the Endowment Trust, and any interest earned on HOPE VI and non-HOPE VI funds) may only be used for eligible and necessary CSS activities, as set forth in the approved CSS Plan.

CSS Endowment Trust. The Grantee may deposit up to 15 percent of the HOPE VI Grant amount (the maximum amount of the grant allowable for CSS programs) into an endowment trust to provide CSS activities (the "Endowment Trust"). (a) The Grantee may not draw down funds provided under this Grant Agreement for deposit into an Endowment Trust until it has a HUD- approved Endowment Trust plan and has executed with HUD an addendum to this Grant Agreement (the "HOPE VI Endowment Trust Addendum"), as directed provided by HUD. The HOPE VI Endowment Trust Addendum establishes the HUD's requirements governing the establishment, operation, and management of an Endowment Trust. (b) In reviewing the amount of the Grantee's proposed allocation of HOPE VI Grant funds to an Endowment Trust, HUD will take into account the Grantee's demonstrated ability to pay for current CSS activities with HOPE VI or other funds, and the projected long-term sustainability of the Endowment Trust to carry out such activities. (c) Endowment Trust funds (including any non-HOPE VI funds donated or otherwise made available to the Endowment Trust, and any interest earned on HOPE VI and non-HOPE VI funds) may only be used for eligible and necessary CSS activities, as set forth in the approved CSS PlanWorkplan.

CSS Endowment Trust. The Grantee may deposit up to 15 percent of the HOPE VI Grant amount (the maximum amount of the grant allowable for CSS programs) into an endowment trust to provide CSS activities (the "Endowment Trust"). (a) The Grantee may not draw down funds provided under this Grant Agreement for deposit into an Endowment Trust until it has a HUD- HUD-approved Endowment Trust plan and has executed with HUD an addendum to this Grant Agreement (the "HOPE VI Endowment Trust Addendum"), as directed by HUD. The HOPE VI Endowment Trust Addendum establishes the requirements governing the establishment, operation, and management of an Endowment Trust. (b) In reviewing the amount of the Grantee's proposed allocation of HOPE VI Grant funds to an Endowment Trust, HUD will take into account the Grantee's demonstrated ability to pay for current CSS activities with HOPE VI or other funds, and the projected long-long- term sustainability of the Endowment Trust to carry out such activities. (c) Endowment Trust funds (including any non-HOPE VI funds donated or otherwise made available to the Endowment Trust, and any interest earned on HOPE VI and non-HOPE VI funds) may only be used for eligible and necessary CSS activities, as set forth in the approved CSS PlanWorkplan.

CSS Endowment Trust. The Grantee may deposit up to 15 percent of the HOPE VI Grant amount (the maximum amount of the grant allowable for CSS programs) into an endowment trust to provide CSS activities (the "Endowment Trust"). (a) The Grantee may not draw down funds provided under this Grant Agreement for deposit into an Endowment Trust until it has a HUD- HUD-approved Endowment Trust plan and has executed with HUD an addendum to this Grant Agreement (the "HOPE VI Endowment Trust Addendum"), as directed by HUD. The HOPE VI Endowment Trust Addendum establishes the requirements governing the establishment, operation, and management of an Endowment Trust. (b) In reviewing the amount of the Grantee's proposed allocation of HOPE VI Grant funds to an Endowment Trust, HUD will take into account the Grantee's demonstrated ability to pay for current CSS activities with HOPE VI or other funds, and the projected long-term sustainability of the Endowment Trust to carry out such activities. (c) Endowment Trust funds (including any non-HOPE VI funds donated or otherwise made available to the Endowment Trust, and any interest earned on HOPE VI and non-HOPE VI funds) may only be used for eligible and necessary CSS activities, as set forth in the approved CSS Plan. Necessary management improvements, including transitional security activities.