The Form HUD-60002, titled "Section 3 Summary Report," offers a comprehensive structure to ensure economic opportunities for low- and very low-income individuals, as mandated by the Housing and Urban Development Act of 1968. It is a pivotal tool used by recipients of federal housing and community development assistance, encompassing a wide array of programs, to report their annual accomplishments in providing employment and contracting opportunities to the target demographic. The form is divided into three main parts, focusing on employment and training opportunities, contracting opportunities, and a summary of efforts to comply with Section 3 requirements. The detailed sections require recipients to disclose the number of new hires, the percentage of these hires that are low- or very low-income residents, and the efforts made to direct economic opportunities towards these groups, including training and contracting with Section 3 businesses. By completing this form, recipients contribute to the U.S. Department of Housing and Urban Development's (HUD) broader goals of enhancing economic opportunities for underserved communities, ensuring that the benefits of federal financial assistance are felt by those who need them most. The information collected aids HUD in monitoring compliance, assessing program impact, and reporting to Congress, reinforcing the form's role as a critical instrument for accountability and transparency in federally funded housing and community development projects.
| Question | Answer |
|---|---|
| Form Name | Hud Form 60002 Fillable |
| Form Length | 3 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 45 sec |
| Other names | hud form 3, hud economic income, form summary report, low very income |