[Code of Federal Regulations]
[Title 24, Volume 4]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR1006.310]

[Page 817-818]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 
               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 1006_NATIVE HAWAIIAN HOUSING BLOCK GRANT PROGRAM--Table of Contents
 
                     Subpart D_Program Requirements
 
Sec. 1006.310  Rent and lease-purchase limitations.

    (a) Rents. The DHHL must develop and follow written policies 
governing rents for rental housing units assisted with NHHBG funds, 
including methods by which rents are determined. The maximum monthly 
rent for a low-income family may not exceed 30 percent of the family's 
monthly adjusted income.
    (b) Lease-purchase. If DHHL assists low-income families to become 
homeowners of rental housing through a long-term lease (i.e. 10 or more 
years) with an option to purchase the housing, DHHL must develop and 
follow written policies governing lease-purchase payments for rental 
housing units assisted with NHHBG funds, including methods by which 
payments are determined. The maximum monthly payment for a low-income 
family

[[Page 818]]

may not exceed 30 percent of the family's monthly adjusted income.
    (c) Exception for certain homeownership payments. Homeownership 
payments for families who are not low-income, as permitted under Sec. 
1006.301(b), are not subject to the requirement that homebuyer payments 
may not exceed 30 percent of the monthly adjusted income of that family.
    (d) Low-income families who receive homeownership assistance other 
than lease-purchase assistance are not subject to the limitations in 
paragraphs (a) and (b) of this section.