[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: 24CFR891.145]



[Page 183]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

  CHAPTER VIII--OFFICE OF THE ASSISTANT SECRETARY FOR HOUSING-FEDERAL 

 

PART 891_SUPPORTIVE HOUSING FOR THE ELDERLY AND PERSONS WITH DISABILITIES

--Table of Contents

 

                 Subpart A_General Program Requirements

 

Sec.  891.145  Owner deposit (Minimum Capital Investment).



    As a Minimum Capital Investment, the Owner must deposit in a special 

escrow account one-half of one percent (0.5%) of the HUD-approved 

capital advance, not to exceed $10,000, to assure the Owner's commitment 

to the housing. Under the Section 202 Program, if an Owner has a 

National Sponsor or a National Co-Sponsor, the Minimum Capital 

Investment shall be one-half of one percent (0.5%) of the HUD-approved 

capital advance, not to exceed $25,000.