What is COMMITMENT?
COMMITMENT meaning in Urban terms is As used in the HOME program, commitment means one of three things. The Participating Jurisdiction (PJ) has:
- Executed a legally binding agreement with a state recipient, subrecipient, or contractor to use a specific amount of HOME funds to produce affordable housing or provide tenant-based rental assistance;
- Executed a written agreement reserving a specific amount of funds for a Community Housing Development Organization; or
- Met requirements to commit to a specific local project as defined below.
For tenant-based rental assistance, commitment means that a rental assistance contract between the PJ (or other entity) and the tenant or owner has been executed. HUDrecognizes a commitment when the project is set up in the Integrated Disbursement and Information System.