minor renovation and repairs grant

Such agreements are typically labeled as leases, but may also be called use agreements, occupancy agreements, memoranda of use, or other similar terms. Payments made by party A are based on a floating rate of interest using, for example, the London Inter Bank Offered Rate (LIBOR) or Securities Industry and Financial Markets Association (SIFMA) Municipal Swap Index. Any arrangement under which the non-Federal entity holds title to a property and enters into a leasing arrangement for that property under a Federal financial award. ACF considers this type of mortgage high-risk and must be avoided. Only ACF programs that have real property authority are allowed, with prior approval, to use Federal funds for this and/or related purpose. Minor A&R projects are not required to satisfy all of the requirements of this chapter. ACF may not consider short-term loans. Conventional loans, for purposes of 45 CFR 75.318 or when used in connection with an encumbrance request, are the most common type of lending for borrowers. The agreement must be recorded for the lender to have priority over subsequent creditors. Maintaining clear and accurate property/asset records containing content such as description of property, dates, amount, location, purpose, depreciation, documentation (request, approval, reports (SF-429, SF-428), liens, finance/refinance documents, agreement, lease, appraisal, etc. Tangible Property includes equipment, supplies, and any other property (including information technology systems) other than that which is defined as an intangible property. For more information see Applicable ACF Grant Programs with Real Property Authority. [45 CFR 1303.44(a)(7)] 11 . Federal funds cannot be used to satisfy this clause. Provision may be acceptable, if it is clear that the provision applies only as Lenders remedy in the event of default. See Applicable ACF Grants Programs with Real Property Authorityand Real Property Guidance. [Please note that current fair market value is based on an appraisal (no more than three (3) years old) conducted by an independent certified appraiser.] A NFI must be recorded in the official real property records in the jurisdiction where the real property is or will be located upon receipt of the federal Notice of Award. It is the responsibility of the recipientto ensure that only allowable costs are charged to the Federal award. Any non-federal match associated with facilities activities becomes part of the federal share of the facility. For all other ACF award recipients and subrecipients there is no change to the standard definition. This is a high-risk provision for ACF and the recipient to which it is advised that it be stricken or waived from the debt instrument. Statistical sampling techniques may be used in taking these inventories. Please note that, unlike the major renovation threshold, there is no threshold for construction. Therefore, ACF will not consider an open-end mortgage. Sign up to receive our Venturize newsletter. General Purpose Equipment, per 45 CFR 75.2, means equipment which is not limited to research, medical, scientific or other technical activities. For state and local governments, GASB issued GASB Statement No. Examples include mortgages (or other finance arrangement), leases (including financed purchase), as well as liens, easements, encroachments, licenses, and deed restriction on the real property. Acquisition cost for equipment, for example, means the net invoice price of the equipment, including the cost of any modifications, attachments, accessories, or auxiliary apparatus necessary to make it usable for the purpose for which it is acquired. The updates are explained as an amendment to FASB Accounting Standards Codification (ASC) and are generally referred to as Topic 842 or FASB ASC 842. See 45 CFR, Land, buildings (facilities), equipment, and intellectual property (including software) whether acquired by purchase, construction, manufacture, lease-purchase, exchange, or through capital leases; and. The recipient may be compensated for the use of its buildings, capital improvements, equipment, and software projects capitalized in accordance with GAAP, provided that they are used, needed in the recipientsactivities, and properly allocated to Federal awards. Categorical exclusion means, under NEPA, a category of actions that the agency has determined, in its agency NEPA procedures, normally do not have a significant effect on the human environment. The "Minor Renovations and Repairs" portion of this grant is for minor renovations, repairs, modernization, or retrofitting of existing child care facilities to increase or recover capacity due to a declared disaster, mitigate future disasters, address needs related to health and safety, licensing, or the COVID-19 pandemic, and for other existin. For more information see Award Term for Micro-Purchase and Simplified Acquisition Thresholds Exception and 48 CFR Part 2.1. Supplies, per 45 CFR 75.2, means all tangible personal property other than those described in Equipment. An arms-length lease is an agreement with an unrelated party and follows the requirements of 45 CFR 75.465(a): Rental costs are allowable to the extent that the rates are reasonable in light of such factors as: rental costs of comparable property, if any; market conditions in the area; alternatives available; and the type, life expectancy, condition, and value of the property leased. infrastructure grant program (igp): minor renovation and repairs application checklist **this is not an application** These types of loans are usually short-term, and only a portion of the loans principal balance is amortized over the term. Maintaining written policies and procedures for the full property life cycle (acquisition, improvements, maintenance, through disposal). Any portion of the cost of the building paid or donated by the Federal government, irrespective of where title was originally vested or where it is presently located. Please note that property insurance costs, such as general liability insurance, which are typically the responsibility of the lessee/tenant, are allowable, but should not be included in the lease arrangement since they would be in the name of the lessee/tenant, and can be charged as a separate expense on the award. Interest rates differ between each lender and depending on the overall credit risk of the entity applying for the loan. the Tribal Construction and Renovation Procedures Program Instruction (e.g.. minor renovation includes all renovation other than major renovation or construction. For more information, see. ), permanent fences, utility conduits, and similar improvements. Summary: The current Minor Repair Program provides a grant of up to $7,500 in Community Development Block Grant funds for repairs to owner-occupied homes. Under GASB 87, the lessee/tenant is required to recognize a lease liability and an intangible right-to-use lease asset, and a lessor/landlord is required to recognize a lease receivable and a deferred inflow of resources. Except under construction projects, these loans should be discouraged as the borrower may end up paying more on the property as the principal balance does not decrease. Cross-default, for purposes of 45 CFR 75.318 or when used in connection with an encumbrance request, occurs when a default under one loan agreement puts the Borrower in default on another obligation under a separate loan agreement. Unless statutory authority, program regulations, and/or other requirements say otherwise, no action related to the construction and major renovation of real property meets the categorical exclusion criteria as outlined under. There are a variety of commercial lease structures, including standard and net lease, but these designations do not always fall in line with the classifications in Topic 842, GASB 87 and federal grant requirements, (also called a variable rate or floating rate mortgage), for purposes of, means an unrelated third party. See 45 CFR 75.308, 45 CFR 75.318, 45 CFR 75.320, 45 CFR 75.407, 45 CFR 75.439and Real PropertyGuidance. This is not a stand-alone agreement. Costs incurred for utilities, insurance*, security*, necessary maintenance, janitorial services*, repair, or upkeep of buildings and equipment (including Federal property unless otherwise provided for) which neither add to the permanent value of the property nor appreciably prolong its intended life, but keep it in an efficient operating condition, are allowable. Payment must be received and confirmed before ACF can release the federal interest on a property. Depending on the classification, please see the relevant reporting and disposition guidance. The property must demonstrate a need for repair. Recipients must only charge their award appropriate costs based on the 45 CFR 75.465 rental costs of real property requirements, as well as any other relevant federal requirement. CCB 22-16 (July 5, 2022) . Major Renovation Threshold, for purposes of 45 CFR 75.318,means (unless otherwise stated in Federal statute, program regulations, and terms of an award) the amount used to distinguish between minor and major Alteration & Renovation for the entire project period. Depreciation records showing the amount of depreciation taken each period must be maintained. For OHS recipientsand subrecipients, according to 45 CFR 1303.44(c) Non-federal match. The simplified acquisition threshold is set by the Federal Acquisition Regulation at 48 CFR subpart 2.1 and in accordance with 41 U.S.C. See under 45 CFR 75.2 forComputing Devices and Equipment. See glossary term Maintenance and Repair Costs. , various property related requirements, and the program specific statutory authority and regulations related to property. Recording a notice of federal interest (NFI) in the appropriate official records for the jurisdiction in which the real property is located. See Tangible Personal Property Guidance. These are ideas or suggestions of requestable items. Patent is considered intellectual property. Minor A&R costs are allowable up to themajor renovationthreshold (currently set at $250,000)for theentire project period per land parcel. GASB 87 paragraph 19 states: A contract that (a) transfers ownership of the underlying asset to the lessee at the end of the contract and (b) does not contain termination options, but may contain a fiscal funding or cancellation clause that (with some certainty) may not be exercised, should be reported as a finance purchase of the underlying asset by the lessee or sale of the asset by the lessor.. This option is unallowable as a direct cost under programs that do not have explicit authority to purchase real property. Announcing The Release Of The Minor Renovation And Repairs Grant Request For Application. As for real property in which there is a federal interest, it may not be conveyed, transferred, assigned, mortgaged, leased, or otherwise be encumbered or subordinated by a recipient unless a deviation is approved by the ACF Chief Grants Management Officer. Generally Accepted Accounting Principles (GAAP), per. The computation of depreciation must be based on the acquisition cost of the assets involved. | All Rights Reserved. However: Depreciation must meet the requirements of, and Topic 842; taxes on entities that are exempt from paying taxes in categories which qualify for exemption under 501(c)(3) status, and special assessments on land which represent capital improvements are also considered unallowable, per. Transitional Living Program - CFDA 93.550, Native Hawaiian and Non-Profit American Indian Organization Child Care Grant (YN), Community Services Block Grant Discretionary Awards (i.e., Community Economic Development only) (EE) CFDA 93.570, Community Services Block Grant (COSR) CFDA 93.569, Social Services Block Grant (SOSR) and the Social Services Block Grant/Consolidated Block Grant (SOSC) CFDA 93.667, Social Services Emergency Disaster Relief (e.g., SSBG/DIS) CFDA 93.667; 93.095 and 93.096, Early Head Start Child Care Partnerships (HP), Early Head Start Indian Child Care Partnerships (HI), Early Head Start Migrant Child Care Partnerships (HM), Head Start Natural Disaster Recovery (ND). While the simplified acquisition threshold intent may allow non-Federal entities to use a reduced purchasing process to expedite the purchase of certain items, it does not mean that they should disregard the 45 CFR 75.407 Prior Written Approval, various property related requirements, and the program specific statutory authority and regulations related to property. See also 45 CFR 75.306. Such costs could amount to unallowable contingency expenses and bad debts. Each program has different requirements and eligible repairs, which are subject to change. is a right to, interest in, or legal liability on real property. Convey, for purposes of 45 CFR 75.318, means to transfer the right of ownership of a property from one party to another by a deed or similar instrument under a notarized seal. See Intangible Property 45 CFR 75.2, 45 CFR 75.322, and 45 CFR 75.448. Maintaining effective property management for the full property life cycle of property acquired and/or used under a Federal award. Any cost exceeding the major renovation threshold, unless the grant program has real property authority, Under arms length arrangements, any ownership type expenses such as depreciation, taxes, insurance, and maintenance and repair costs that are, per, Under less-than-arms-length arrangements, per, For a recipientowned property, any costs above the depreciated value. See Intangible Property 45 CFR 75.2, 45 CFR 75.322, and 45 CFR 75.448. Micro-purchase procedures comprise a subset of a non-Federal entity's small purchase procedures. 1397d(a)(1) and (b), and 45 CFR 96.15), Head Start Emergency Supplement American Indian (HA), Head Start Emergency Supplement Migrant (HN), Head Start Facility American Indian (WI), This guidance addresses only leased real property. Applicants interested in applying for a repair loan or grant can contact their local Rural Development office and provide the following documentation: Form RD 410-4, Uniform Residential Loan Application; Form RD 3550-1, Request for Information; Form RD 3550-4, Employment and Asset Certification; These are some example repairs that may be necessary to make a home safe. Applicable grant regulations at 45 CFR Part 75 do not define the term lease. However, a lease is generally described as a contract establishing the terms under which one party (tenant; lessee) agrees to rent property owned by another party (landlord; lessor), which is owned by that party or a third party. For all other ACF recipients and subrecipients there is no change to the standard definition. The renewal and replacement policies followed for the individual item or classes of assets involved. *Insurance, security, and services have additional separate administrative or cost principle requirements that must be considered too. Can you get a $10,000 grant for home improvement? A lot is a measured parcel of land having fixed boundaries. See Major Renovation and Minor Renovation glossary . To apply for the grant, please visit: https://www.cdss.ca.gov/inforesources/child-care-and-development/infrastructure-grant-program/minor-renovation-and-repairsView slides from this webinar: http://www.first5alameda.org/coronavirus-disease-covid-19-resources-2019/wp-content/uploads/2022/03/IGP-MRR-Webinar-Ctr.pdfFor responses to frequently asked questions (FAQs): http://www.first5alameda.org/coronavirus-disease-covid-19-resources-2019/wp-content/uploads/2022/03/Minor-Renovation-and-Repair-Grant-Webinar-Q-and-A_Center.pdfSpanish FAQS: http://www.first5alameda.org/coronavirus-disease-covid-19-resources-2019/wp-content/uploads/2022/03/Minor-Renovation-and-Repair-Grant-Webinar-Q-and-A-Spanish.pdfChinese FAQ: http://www.first5alameda.org/coronavirus-disease-covid-19-resources-2019/wp-content/uploads/2022/03/Minor-Renovation-and-Repair-Grant-Webinar-Q-and-A-Chinese.pdfZip Code Data: http://www.first5alameda.org/coronavirus-disease-covid-19-resources-2019/wp-content/uploads/2022/03/220224-Facilities-Grant-Zip-Code-Data-ENGLISH.pdfZip Code Data in Spanish: http://www.first5alameda.org/coronavirus-disease-covid-19-resources-2019/wp-content/uploads/2022/03/220224-Facilities-Grant-Zip-Code-Data-SPANISH.pdfZip Code Data in Chinese: http://www.first5alameda.org/coronavirus-disease-covid-19-resources-2019/wp-content/uploads/2022/03/220224-Facilities-Grant-Zip-Code-Data-CHINESE.pdf

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