[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: 24CFR92.250]

[Page 593]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
PART 92--HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents
 
                     Subpart F--Project Requirements
 
Sec. 92.250  Maximum per-unit subsidy amount and subsidy layering.


    (a) Maximum per-unit subsidy amount. The amount of HOME funds that a 
participating jurisdiction may invest on a per-unit basis in affordable 
housing may not exceed the per-unit dollar limits established under 
section 221(d)(3)(ii) of the National Housing Act (12 U.S.C. 
17151(d)(3)(ii)) for elevator-type projects that apply to the area in 
which the housing is located. These limits are available from the 
Multifamily Division in the HUD Field Office. If the participating 
jurisdiction's per-unit subsidy amount has already been increased to 
210% as permitted under section 221(d)(3)(ii) of the National Housing 
Act, upon request of the Field Office, HUD will allow the per-unit 
subsidy amount to be increased on a program-wide basis to an amount, up 
to 240% of the original per unit limits.
    (b) Subsidy layering. Before committing funds to a project, the 
participating jurisdiction must evaluate the project in accordance with 
guidelines that it has adopted for this purpose and will not invest any 
more HOME funds, in combination with other governmental assistance, than 
is necessary to provide affordable housing.

[61 FR 48750, Sept. 16, 1997, as amended at 62 FR 28929, May 28, 1997]