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CDBG Loan Records & CDBG Non-Performing Loan Records

RDA Number
11030
Effective Date
Record Series Abstract
All Federal Community Development Block Grant (CDBG) loan documents and correspondences between the State, the grantee and the company should be retained for CDBG loans. These documents include but are not limited to the loan agreement, promissory note, security agreement, deed of trust, personal guaranty, certificate of insurance, and certificate of title insurance. The non-performing records show the payment histories and job creation histories for industrial development loans made with CDBG funds over the last 28 years. If a company or individual has failed to meet a project's requirements and applies for a new loan, the data will allow staff to provide info concerning those failures to ECD management before making another loan with them. Records for these include but are not limited to the verification documents, correspondence, payment histories, and necessary documentation to obtain loan.
Record Series Active
Yes
Cut Off at End of
Other
If Other, Explain
When loan has been paid off, the CDBG Loan program is over, or when HUD closes the program year, whichever is longer, maintain 5 years and destroy.
Total Retention Years
5
Total Retention Months
0
Retention End Action
Destroy
Disposition Notes
Maintain these records 5 years after the CDBG revolving loan fund is over or when the loan has been paid off, or when HUD closes the program year, whichever is last, maintain 5 years and destroy.. These will identify the individual or company that did not meet the requirements and/or didn't pay back the money required. Upon end of retention period the records will be purged.
Allotment Code
33001
Record Location
312 Rosa L Parks Avenue, 26th Floor, TN Tower, Nashville
File Arrangement
Alpha
Date Range
01/85 to Current
Annual Accumulation
50 MB
Current Volume
.5 GB
Record Value
Administrative
Fiscal
Audit Requirements
Both
Information Shared Outside the State
Yes
Shared Agencies
US Department of Housing and Urban Development
Essential Record
Yes - Original
Essential Record Stored
On our Microsoft File Server located at the State of TN Data Center
Essential Record Media Type
Electronic
Confidential
No
Does this Record Series Contain Sensitive Information?
No
Agency Retention
As long as the state continues to loan money from the CDBG revolving loan fund, or when loan has been paid off, or when HUD closes the program year, whichever is longer, maintain 5 years and destroy.
Records Center Retention Period
0
System Name
Microsoft File Server CDBG TN Share Drive
Hardware Description
Microsoft File Server running in a VMware virtual server environment
Software Description
Microsoft Word, Excel, and PDF Documents
System Location
Microsoft File Server located in the State of TN Data Center
Backup Procedures
Nightly incremental back up(Sunday through Thursday). Weekly full back up on Friday night. Monthly full back up on last Friday of the month. Magnetic tape which are stored off-site at Iron Mountain back up storage facility.
Disaster Recovery
If data becomes lost of corrupted, a RFS will be submitted to OIR requesting a data restoration from the backup tapes containing the lost or corrupted data to its original location on the file server.
Data Migration Description
All Microsoft Office suite products allow for data files to be automatically upgraded to newer version of software by opening and choosing to convert files on the first open with the new software versions.
Legacy Revision UUID
2170