Common use of Drawdowns Clause in Contracts

Drawdowns. 1. The Lead Grantee may draw down Choice Neighborhoods Grant funds for a Budget Line Item (BLI) in an amount up to 100 percent of the amount of that BLI that HUD has approved and made available for drawdown. 2. Any request for funds in excess of ten (10) percent of the entire grant amount in any month must be approved by HUD.

Drawdowns. 1. The Lead Grantee may draw down Choice Neighborhoods Grant funds for a Budget Line Item (BLI) in an amount up to 100 percent of the amount of that BLI that HUD has approved and made available for drawdown. 2. Any request for funds in excess of ten (10) 10 percent of the entire grant amount in any month must be approved by HUD. The Grantee must submit copies of the invoices supporting the drawdown amount to the Team Coordinator for review.

Drawdowns. (1. ) The Lead Grantee may draw down Choice Neighborhoods Grant funds for a Budget Line Item (BLI) in an amount up to 100 percent of the amount of that BLI that HUD has approved and made available for drawdown. (2. ) Any request for funds in excess of ten (10) percent of the entire grant amount in any month must be approved by HUD.

Drawdowns. (1. ) The Lead Grantee may draw down Choice Neighborhoods Grant funds for a Budget Line Item (BLI) in an amount up to 100 percent of the amount of that BLI that HUD has approved and made available for drawdown. (2. ) Any request for funds in excess of ten (10) percent of the entire grant amount in any month must be approved by HUD. (3) The final 10 percent of the budgeted administrative grant funds will be held back in LOCCS until HUD approves the completion of the Transformation Plan as described in Article III.