[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: 24CFR983.56]

[Page 666]
 
                 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 B_Owner Application Submission to Agreement
 
Sec. 983.56  New construction: HUD field office review of applications.

    (a) The HUD field office must review the owner applications 
submitted by an HA to determine compliance with requirements concerning 
the site and neighborhood standards in Sec. 983.6.
    (b) The HUD field office must establish initial contract rents for 
any HA owned units or projects financed with a HUD insured or coinsured 
multifamily mortgage. HUD (or a Housing Credit Agency) must also conduct 
subsidy layering contract rent reviews.
    (c) When the HA administering the ACC or an entity substantially 
controlled by the HA administering the ACC has submitted an application, 
the HA must submit to the HUD field office all owner applications in 
response to the advertisement. The HUD field office must review the 
owner applications and make the final selections based on the criteria 
in the HA selection policy approved by the HUD field office.