[Code of Federal Regulations]
[Title 24, Volume 4]
[Revised as of April 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR990.106]

[Page 683-684]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 
               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 990--THE PUBLIC HOUSING OPERATING FUND PROGRAM--Table of Contents
 
                  Subpart A--The Operating Fund Formula
 
Sec. 990.106  Transition funding for excessively high-cost PHAs.

    (a) Eligibility. If a PHA's Base Year Expense Level exceeds its AEL 
for any budget year under the Operating Fund Formula, the PHA may be 
eligible for Transition Funding.
    (b) Amounts. Transition Funding shall be an amount not to exceed the

[[Page 684]]

difference between the Base Year Expense Level and the AEL for the 
Requested Budget Year, multiplied by the number of Unit Months 
Available.
    (c) Reduction in transition funding. HUD shall have the right to 
discontinue payment of all or part of the Transition Funding in the 
event HUD at any time determines that the PHA has not achieved a 
satisfactory level of management efficiency, or is not making efforts 
satisfactory to HUD to improve its management performance.