[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: 24CFR92.218]



[Page 613-614]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 92_HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents

 

                     Subpart E_Program Requirements

 

Sec.  92.218  Amount of matching contribution.



    (a) General. Each participating jurisdiction must make contributions 

to housing that qualifies as affordable housing under the HOME program, 

throughout a fiscal year. The contributions must total not less than 25 

percent of the funds drawn from the jurisdiction's HOME Investment Trust 

Fund Treasury account in that fiscal year, excluding funds drawn for 

purposes identified in paragraph (c) of this section.

    (b) Shortfall amount from State or local resources. Amounts made 

available under Sec.  92.102(b)(2) from the resources of a State (other 

than a transfer of the State's formula allocation), the local 

participating jurisdiction, or both, to enable the local participating 

jurisdiction to meet the participation threshold amount are not required 

to be matched and do not constitute matching contributions.

    (c) HOME funds not required to be matched. HOME funds used for 

administrative and planning costs (pursuant to Sec.  92.207); community 

housing development organization operating expenses (pursuant to Sec.  

92.208); capacity building (pursuant to Sec.  92.300(b)) of community 

housing development organizations;



[[Page 614]]



and project specific assistance to community housing development 

organizations (pursuant to Sec.  92.301) when the participating 

jurisdiction waives repayment under the provisions of Sec.  92.301(a)(3) 

or Sec.  92.301(b)(3) are not required to be matched.

    (d) Match contribution for other programs. Contributions that have 

been or will be counted as satisfying a matching requirement of another 

Federal grant or award may not count as satisfying the matching 

contribution requirement for the HOME program.