[Code of Federal Regulations]
[Title 24, Volume 4]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR969.105]

[Page 537]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 
               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 969_PHA-OWNED PROJ- ECTS_CONTINUED OPERATION AS LOW-INCOME 
HOUSING AFTER COMPLETION OF DEBT SERVICE--Table of Contents
 
Sec. 969.105  Extension of ACC upon payment of operating subsidy.

    (a) ACC amendment. As a condition for the first HUD approval for 
payment of Operating Subsidy with respect to the projects under a 
particular ACC for a PHA fiscal year beginning after the effective date 
of this part, the PHA and HUD shall enter into an amendment to the ACC 
for all projects under the ACC. This ACC amendment shall provide that 
the ACC provisions related to project operation shall continue in effect 
with respect to each project under the ACC for a period of 10 years 
after the end of the last PHA fiscal year for which Operating Subsidy is 
paid with respect to the project.
    (b) Consolidated ACC. Where a single ACC covers more than one 
project (Consolidated ACC), each annual Operating Subsidy payable under 
that ACC is a lump-sum amount, which is not divided into discrete 
amounts for the individual projects which are subject to the 
Consolidated ACC (see 24 CFR part 990). Accordingly, if a PHA, before 
submitting a request for Operating Subsidy pursuant to paragraph (a) of 
this section, determines that any project(s) under the Consolidated ACC 
will not require Operating Subsidy and should not be subject to the 
provisions of paragraph (a), of this section the PHA shall accompany its 
request with a resolution certifying that no Operating Subsidy shall be 
utilized with respect to such project(s) after the effective date of 
this rule and that all financial records and accounts shall be kept 
separately for such project(s). In such case, the removal of the 
project(s) from the request for Operating Subsidy shall be reflected by 
the exclusion of that number of unit months available for the project(s) 
when making the calculations, under 24 CFR part 990, for determination 
of the total amount of Operating Subsidy payable under the Consolidated 
ACC. In any event, no Operating Subsidy payable under a Consolidated ACC 
or otherwise shall be used to pay, directly or indirectly, any costs 
attributable to a project which is ineligible or otherwise excluded from 
Operating Subsidy under Sec. 969.104. Even if no Operating Subsidy is 
received with respect to a project, the PHA remains obligated to 
maintain and operate the project in accordance with the provisions of 
the ACC related to project operation so long as those ACC provisions 
remain in effect.