CDBG Grant Return Act of 2014 - Amends the Housing and Community Development Act of 1974 to authorize any metropolitan city, urban county, local government, Indian tribe, or insular area that directly or indirectly receives amounts from a community development block grant (CDBG), at its sole discretion, to return to the Treasury any or all of such amounts.

Allows each entity, at its discretion, to retain and use for any purpose up to 10% of such returned funds.

Requires the returned funds to be covered into the Treasury General Fund. Prohibits them from being reallocated, redistributed, or otherwise made available under the Act.