[Code of Federal Regulations]
[Title 24, Volume 4]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR983.2]

[Page 638]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 
               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 983--SECTION 8 PROJECT-BASED CERTIFICATE PROGRAM--Table of Contents
 
                     Subpart A--General Information
 
Sec. 983.2  Additional definitions.

    The following definitions apply to assistance subject to this part 
983, in addition to the definitions in 24 CFR 982.4:
    Agreement to enter into housing assistance payments contract 
(``Agreement''). A written agreement between the owner and the HA that, 
upon satisfactory completion of the new construction or the 
rehabilitation in accordance with requirements specified in the 
Agreement, the HA will enter into a HAP contract with the owner.
    15-percent limit. Fifteen percent of the total number of budgeted 
units for an HA's Section 8 certificate program.
    Funding source. The ACC funding authority from which the HAP 
contract is to be funded. Each funding increment identified in the ACC 
is a separate, potential funding source.
    Percent limit. The applicable maximum number of budgeted units for 
an HA's certificate program that may be project-based. (The applicable 
percent limit is either the 15-percent limit or the 30-percent limit.)
    Project-based Certificate (PBC) program. A Section 8 program 
administered by an HA pursuant to 24 CFR part 983.
    Repair or replacement of a major building system or component. The 
complete electrical rewiring of a unit; the installation of new plumbing 
supply or waste pipes in a unit; the installation of a new heating 
distribution system, including piping and ductwork, or the installation 
of a new boiler or furnace; the installation of a new roof; or the 
replacement or major repair of exterior structural elements which are 
essential to achieve a stable general condition with no threat of 
further deterioration.
    State certified appraiser. Any individual who satisfies the 
requirements for certification as a certified general appraiser in a 
State that has adopted criteria that currently meet or exceed the 
minimum certification criteria issued by the Appraiser Qualifications 
Board of the Appraisal Foundation. The State criteria must include a 
requirement that the individual have achieved a satisfactory grade upon 
a State-administered examination consistent with and equivalent to the 
Uniform State Certification Examination issued or endorsed by the 
Appraiser Qualifications Board of the Appraisal Foundation. Furthermore, 
if the Appraisal Foundation has issued a finding that the policies, 
practices, or procedures of the state are inconsistent with the 
Financial Institutions Reform, Recovery, and Enforcement Act of 1989, an 
individual must comply with any additional standards for state certified 
appraisers imposed by HUD under 24 CFR 267.11(c)(1).
    30-Percent limit. Thirty percent of the total number of budgeted 
units for a HA's Section 8 certificate program.

[60 FR 34717, July 3, 1995, as amended at 63 FR 23870, Apr. 30, 1998]