[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR92.102]



[Page 601]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 92_HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents

 

  Subpart C_Consortia; Designation and Revocation of Designation as a 

                       Participating Jurisdiction

 

Sec.  92.102  Participation threshold amount.



    (a) To be eligible to become a participating jurisdiction, a unit of 

general local government must have a formula allocation under Sec.  

92.50 that is equal to or greater than $750,000; or

    (b) If a unit of general local government's formula allocation is 

less than $750,000, HUD must find:

    (1) The unit of general local government has a local PHA and has 

demonstrated a capacity to carry out the provisions of this part, as 

evidenced by satisfactory performance under one or more HUD-administered 

programs that provide assistance for activities comparable to the 

eligible activities under this part; and

    (2) The State has authorized HUD to transfer to the unit of general 

local government a portion of the State's allocation or the State, the 

unit of general local government, or both, has made available its own 

resources such that the sum of the amounts transferred or made available 

are equal to or greater than the difference between the unit of general 

local government's formula allocation and $750,000.

    (c) In fiscal years in which Congress appropriates less than $1.5 

billion for this part, $500,000 is substituted for $750,000 each time it 

appears in this section.