[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

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.