HUD-92041 Sponsor's Conflict of Interest Resolution

Section 202 Supportive Housing for the Elderly Application Submission Requirements

92041

Section 202 Supportive Housing for the Elderly Application Submission Requirements

OMB: 2502-0267

Document [pdf]
Download: pdf | pdf
SPONSOR’S CONFLICT OF
INTEREST RESOLUTION

U.S. Department of Housing
and Urban Development
Office of Housing
Federal Housing Commissioner

OMB Approval No. 2502-0267
(exp. 07/31/2007)

Public reporting burden for this collection of information is estimated to average .40 hours per response, including the
time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and
completing and reviewing the collection of information. HUD may not collect this information, and you are not required to
complete this form, unless it displays a currently valid OMB control number.
This collection of information is required for HUD’s Supportive Housing for the Elderly under Section 202 and Supportive
Housing for Persons with Disabilities under Section 811. The information is necessary to assist HUD in determining
applicant eligibility and ability to develop housing for the elderly and for persons with disabilities within statutory and
program criteria. A thorough evaluation of an applicant’s qualifications and capabilities is critical to protect the
Government’s financial interest and to mitigate any possibility of fraud, waste, or mismanagement of public funds. This
collection of information does not collect any sensitive information. HUD does not ensure confidentiality.

TO: The Secretary of Housing and Urban Development
SUBJECT: Section 202 Program - Application for Fund Reservation
Section 811 Program - Application for Fund Reservation
Sponsor:
Project Location:

WHEREAS, Section 202 of the Housing Act of 1959, as amended, authorizes the making of capital
advances for housing for the elderly to private, nonprofit corporations, OR Section 811 of the National
Affordable Housing Act of 1990, as amended, authorizes the making of capital advances to nonprofit
corporations for housing for persons with disabilities, no part of the net earnings of which inure to the benefit of
any member, founder, contributor or individual;
WHEREAS, HUD has implemented this statutory requirement by promulgating a regulation providing
that the Sponsor may not be controlled by or under the direction of persons or firms seeking to derive profit or
gain therefrom. The regulation also prohibits any officer or director of the Sponsor from having any financial
interest in any contract in connection with the rendition of services, the provision of goods or supplies,
procurement of furnishings or equipment, construction of the project, procurement of the site or any other
matters whatsoever, except with respect to management or supportive services contracts entered into by the
Owner with the Sponsor or its nonprofit affiliate.
WHEREAS, HUD has determined that assurance of compliance with this prohibition can best be
obtained by requiring that all officers and directors of the Sponsor certify that they do not have and will not
have during their term of office, any prohibited financial interest.
WHEREAS, because of the time constraints imposed under the application process and difficulties in
meeting these deadlines caused by such factors as large boards and unavailability of officers and directors of
the board, some prospective Sponsors have been unable or experienced hardship in obtaining all of the
required certifications for submission with the applications for fund reservation.
WHEREAS, HUD is willing to defer submission of the required Sponsors’ Conflict of Interest and
Disclosure Certifications until the submission of the firm commitment applications by those Owners for which
fund reservations were approved, if such certifications are provided by all the Sponsor’s officers and directors
listed below, who are duly qualified and sitting in these capacities from the date of the Sponsor’s fund
reservation application.

Page 1 of 2

form HUD-92041 (1/2003)

[LIST THE NAME, TITLE, AND THE BEGINNING AND ENDING DATES OF THE TERM OF ALL OFFICERS
AND DIRECTORS]
NOW, THEREFORE, in order to induce HUD to forego requiring submission of the Conflict of Interest
and Disclosure Certifications until after projects have been selected and fund reservations granted, it is hereby
resolved and agreed by the Board of Directors of the Sponsor:
1. That it will submit an updated Incumbency Certificate, in a form prescribed by HUD, showing all
changes in incumbency for submission with the Owner’s Application for Firm Commitment, initial closing and
final closing.
2. That no officer or director of the Sponsor has or will be permitted to have any prohibited interest
which would prevent him or her from signing the required Conflict of Interest and Disclosure Certification.
3. That the fund reservation will be subject to cancellation by HUD if the officers or directors of either
the Sponsor or the Owner fail to submit Conflict of Interest and Disclosure Certifications duly executed by each
and all of their respective officers and directors.
4. That no HUD capital advance funds or project rental assistance funds will be expended on account
of any contract or arrangement where a conflict of interest is determined to exist, and the Sponsor shall be
responsible for the payment of any and all obligations involving its officers and directors.
5. That should any contract or arrangement entered into by the Owner be determined by HUD to
involve a conflict of interest, involving either the Sponsor’s or Owner’s officers or directors,
the Sponsor will exercise its best efforts to cause the Owner to promptly cancel or terminate such contract or
arrangement at HUD’s request.
Adopted and approved by the Board of Trustees of the Sponsor on the _____________________
day of _____________________, __________.

Authorized Signature

Page 2 of 2

form HUD-92041 (1/2003)


File Typeapplication/pdf
File Title92041
Subject92041
AuthorELK
File Modified2004-07-16
File Created2002-04-03

© 2024 OMB.report | Privacy Policy