[Code of Federal Regulations]
[Title 24, Volume 3]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR599.507]

[Page 322-323]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
  CHAPTER V--OFFICE OF ASSISTANT SECRETARY FOR COMMUNITY PLANNING AND 
        DEVELOPMENT, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 599_RENEWAL COMMUNITIES--Table of Contents
 
                 Subpart F_Post-Designation Requirements
 
Sec. 599.507  Tax incentives utilization plan.

    (a) Preliminary plan. Within six months of designation, the CoRA 
must prepare and submit to HUD a preliminary tax incentives utilization 
plan for achieving the State and local commitments made at the time of 
application as required by Sec. 599.107 and implementing and maximizing 
the Federal, State and local benefits made available in the Renewal 
Community.
    (b) Final plan. Within twelve months of designation, the CoRA must 
prepare and submit to HUD the final tax incentives utilization plan for 
achieving the State and local commitments made at the time of 
application as required by Sec. 599.107 and implementing and maximizing 
the Federal, State and local benefits made available in the Renewal 
Community.

[[Page 323]]

    (c) Community participation. The CoRA must ensure that the 
preliminary and final tax incentives utilizations plans are developed 
with the participation of the residents and community organizations in 
the Renewal Community.
    (d) Coordination with Consolidated Plan and Indian Housing Plan. The 
tax incentives utilization plan must include a certification that it is 
consistent with the Consolidated Plan prepared in accordance with 24 CFR 
part 91 or the Indian Housing Plan prepared in accordance with 24 CFR 
part 1000, as applicable.
    (e) HUD technical assistance. HUD will provide technical assistance 
as authorized to assist the CoRA in preparing the required tax 
incentives utilization plans.