[Code of Federal Regulations]
[Title 24, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR92.216]

[Page 586]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
PART 92--HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents
 
                     Subpart E--Program Requirements
 
Sec. 92.216  Income targeting: Tenant-based rental assistance and rental units.

    Each participating jurisdiction must invest HOME funds made 
available during a fiscal year so that, with respect to tenant-based 
rental assistance and rental units:
    (a) Not less than 90 percent of:
    (1) The families receiving such rental assistance are families whose 
annual incomes do not exceed 60 percent of the median family income for 
the area, as determined and made available by HUD with adjustments for 
smaller and larger families (except that HUD may establish income 
ceilings higher or lower than 60 percent of the median for the area on 
the basis of HUD's findings that such variations are necessary because 
of prevailing levels of construction cost or fair market rent, or 
unusually high or low family income) at the time of occupancy or at the 
time funds are invested, whichever is later; or
    (2) The dwelling units assisted with such funds are occupied by 
families having such incomes; and
    (b) The remainder of:
    (1) The families receiving such rental assistance are households 
that qualify as low-income families (other than families described in 
paragraph (a)(1) of this section) at the time of occupancy or at the 
time funds are invested, whichever is later; or
    (2) The dwelling units assisted with such funds are occupied by such 
households.

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