[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: 24CFR92.107]



[Page 601-602]

 

                 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.  92.107  Revocation of designation as a participating jurisdiction.



    HUD may revoke a jurisdiction's designation as a participating 

jurisdiction if:

    (a) HUD finds, after reasonable notice and opportunity for hearing 

as provided in Sec.  92.552(b) that the jurisdiction



[[Page 602]]



is unwilling or unable to carry out the provisions of this part, 

including failure to meet matching contribution requirements; or

    (b) The jurisdiction's formula allocation falls below $750,000 (or 

below $500,000 in fiscal years in which Congress appropriates less than 

$1.5 billion for this part) for three consecutive years, below $625,000 

(or below $410,000 in fiscal years in which Congress appropriates less 

than $1.5 billion for this part) for two consecutive years, or the 

jurisdiction does not receive a formula allocation in any one year.

    (c) When HUD revokes a participating jurisdiction's designation as a 

participating jurisdiction, HUD will reallocate any remaining funds in 

the jurisdiction's HOME Investment Trust Fund established under Sec.  

92.500 in accordance with Sec.  92.451.