large-scale physical development projects. APPLICATION AND AWARD PROCESS: Pre-application Coordination: Pre-application requirements are found in 24 CFR Section 570.704. Pre-submission requirements are similar to those applicable for the Community Development Block Grants Program. Proposed activities must be consistent with a unit of local government s consolidated plan submitted for HUD s Community Planning and Development Programs. This program is eligible for coverage under E.O. 12372, Intergovernmental Review of Federal Programs. An applicant should consult the office or official designated as the single point of contact in his or her State for more information on the process the State requires to be followed in applying for assistance, if the State has selected the program for review. Application Procedure: Application requirements are found in 24 CFR Section 570.704. Award Procedure: Upon approval of an application, HUD will issue to the worthy applicant an offer of commitment to guarantee notes or other obligations issued by the applicant or its public agency designee. The commitment will be subject to compliance with applicable requirements and such conditions as HID may specify in the commitment document Furthermore, borrowers are required to pledge current and future CDBG funds as security for the loan guarantee. HID also requires that the
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