Wisconsin Energy and Housing Program Guidelines
This document outlines the guidelines and requirements for the Homebuyer and Rehabilitation Program (HHR) as well as the management of Program Income and Recaptured Funds in the Division of Energy, Housing, and Community Resources under the Department of Administration for the State of Wisconsin. It provides clarity on who the policies apply to, what Program Income encompasses, how recaptured funds are handled, and the reporting obligations for grantees.
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Presentation Transcript
Division of Energy, Housing, and Community Resources Department of Administration State of Wisconsin August, 2019
HOME Homebuyer and Rehabilitation Program (HHR) Program Income for Grantees without a current HHR contract
Who does this apply to? Any grantee who did not execute a 2018/19 HHR contract Applies to current HHR contract grantees who don t receive a subsequent HHR contract
Policy # HOME HHR 01-2019 Any grantee without an executed, current contract for administration of the HOME-HHR program must: 1. Return all unencumbered Program Income to the State, or: 2. Utilize all HOME Program Income as grants issued to eligible clients Program income shall not be issued as loans 3. Report to DEHCR, on an annual basis, the amount of Program Income funds received and utilized until such time as no further PI or recaptured funds are received All reporting requirements per the HOME rule remain in effect
Program Income What is program income? Proceeds from sale or long-term lease of real property acquired, rehabilitated or constructed with HOME funds Gross income from the use or rental of real property owned by the grantee that was converted to rental Payments of principal and interest on loans Interest on program income Any other interest or return on the investment of HOME funds Any income generated by an activity funded with program income
Recaptured Funds Recaptured funds HOME funds recouped by grantee when assisted homebuyer sells property within the affordability period Recaptured funds are NOT program income Can t be used for administrative costs
Program Income Requirements Program income and recaptured funds MUST be reported annually to DEHCR Reporting includes program income and recaptured received and spent Grantee must maintain records which identify source by activity, contract number or financial records such as bank statements for interest Program income spent must be identified by address and used for eligible HHR activities (Single family Homebuyer or Rehabilitation) Subsidy can only be in the form of a grant Program Income shall not be issued as any type of loan 10% ofprogram income (not recaptured) can be used for administrative costs
Program Income and Recaptured Report Annual Program Income and Recaptured Report Accumulated and spent program income/recaptured funds from October 1 to September 30 List activities where funds were received and any other program income such as bank interest Include activity and contract number and address List projects where funds were spent including address, completion dates, and amount spent Include completion reports for each activity used with PI/Recaptured funds found under Non Grantees tab at https://doa.wi.gov/Pages/LocalGovtsGrants/HOMEHHRMainPage.aspx
Annual Program Income Report 1. Activity number associated with PI or recaptured funds received 2. Contract number/Program year 3. Address of where the check came from 4. Dropdown column (must identify whether funds are recaptured or PI) 5. Actual dollar amount received 6. Project address of where funds were spent 7. Date of project completion (submit corresponding completion report with Annual Program Income report) 8. Dropdown column (must identify whether funds are recaptured or PI) 9. Actual dollar amount of PI or recaptured funds used 10. Print Name, Sign, and Agency Name
