Untimely Expenditure of Funds. The CDBG-DR appropriation (the Disaster Relief Appropriations Act, 2013 (Pub. L. 113-2)) requires that all funds must be fully expended within 24 months of the date HUD obligates the State’s allocation. HUD requires that the State implement procedures to determine timely expenditures of Grantees. To fulfill this requirement, the State will track performance measures and expenditures as described in the overall Statement of Project, Exhibit B, in the Performance Plan (collectively, the “Milestones”). If, at any time during the term of this Grant, State determines the Project is not proceeding timely in accordance with its Milestones, State may elect to take one or more of the following actions, which shall not be deemed a breach of its obligations hereunder:
Appears in 3 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
Untimely Expenditure of Funds. The CDBG-DR appropriation (the Disaster Relief Appropriations Act, 2013 (Pub. L. 113-2)) requires that all funds must be fully expended within 24 months of the date HUD (as defined in Exhibit B) obligates the State’s allocation. HUD requires that the State implement procedures to determine timely expenditures of Grantees. To fulfill this requirement, the State will track performance measures and expenditures as described in the overall Statement of Project/Budget, Exhibit B, and in the Project Performance Plan (collectively, the “Milestones”). If, at any time during the term of this Grant, State determines the Project is not proceeding timely in accordance with its Milestones, State may elect to take one or more of the following actions, which shall not be deemed a breach of its obligations hereunder:
Appears in 2 contracts
Samples: Resiliency Planning Grant Agreement, Resiliency Planning Grant Agreement
