[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: 24CFR92.216]



[Page 613]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 92_HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents

 

                     Subpart E_Program Requirements

 

Sec.  92.216  Income targeting: Tenant-based rental assistance and rental 

units.



    Each participating jurisdiction must invest HOME funds made 

available during a fiscal year so that, with respect to tenant-based 

rental assistance and rental units:

    (a) Not less than 90 percent of:

    (1) The families receiving such rental assistance are families whose 

annual incomes do not exceed 60 percent of the median family income for 

the area, as determined and made available by HUD with adjustments for 

smaller and larger families (except that HUD may establish income 

ceilings higher or lower than 60 percent of the median for the area on 

the basis of HUD's findings that such variations are necessary because 

of prevailing levels of construction cost or fair market rent, or 

unusually high or low family income) at the time of occupancy or at the 

time funds are invested, whichever is later; or

    (2) The dwelling units assisted with such funds are occupied by 

families having such incomes; and

    (b) The remainder of:

    (1) The families receiving such rental assistance are households 

that qualify as low-income families (other than families described in 

paragraph (a)(1) of this section) at the time of occupancy or at the 

time funds are invested, whichever is later; or

    (2) The dwelling units assisted with such funds are occupied by such 

households.