[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: 24CFR92.219]



[Page 614]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 92_HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents

 

                     Subpart E_Program Requirements

 

Sec.  92.219  Recognition of matching contribution.



    (a) Match contribution to HOME-assisted housing. A contribution is 

recognized as a matching contribution if it is made with respect to:

    (1) A tenant who is assisted with HOME funds;

    (2) A HOME-assisted unit;

    (3) The portion of a project that is not HOME-assisted provided that 

at least 50 percent of the housing units in the project are HOME-

assisted. If the match contribution to the portion of the project that 

is not HOME-assisted meets the affordable housing requirements of Sec.  

92.219(b)(2), the percentage requirement for HOME-assisted units does 

not apply; or

    (4) The commercial space in a mixed-use project in which at least 51 

percent of the floor space is residential provided that at least 50 

percent of the dwelling units are HOME-assisted.

    (b) Match contribution to affordable housing that is not HOME-

assisted. The following requirements apply for recognition of matching 

contributions made to affordable housing that is not HOME-assisted:

    (1) For tenant-based rental assistance that is not HOME-assisted:

    (i) The contribution must be made with respect to a tenant who is 

assisted with tenant-based rental assistance that meets the requirements 

of Sec.  92.203 (Income determinations) and paragraphs (a), (c), (f), 

and (i) of Sec.  92.209 (Tenant-based rental assistance); and

    (ii) The participating jurisdiction must demonstrate in writing that 

such assistance meets the provisions of Sec. Sec.  92.203 and 92.209 

(except Sec.  92.209(e)).

    (2) For affordable housing that is not HOME-assisted:

    (i) The contribution must be made with respect to housing that 

qualifies as affordable housing under Sec.  92.252 or Sec.  92.254.

    (ii) The participating jurisdiction or its instrumentality must 

execute, with the owner of the housing (or, if the participating 

jurisdiction is the owner, with the manager or developer), a written 

agreement that imposes and enumerates all of the affordability 

requirements from Sec.  92.252 and Sec.  92.253(a) and (b) (Tenant 

protections), or Sec.  92.254, whichever are applicable; the property 

standards requirements of Sec.  92.251; and income determinations made 

in accordance with Sec.  92.203. This written agreement must be executed 

before any match contributions may be made.

    (iii) A participating jurisdiction must establish a procedure to 

monitor HOME match-eligible housing to ensure continued compliance with 

the requirements of Sec. Sec.  92.203 (Income determinations), 92.252 

(Qualification as affordable housing: Rental housing), 92.253(a) and (b) 

(Tenant protections) and 92.254 (Qualification as affordable housing: 

Homeownership). No other HOME requirements apply.

    (iv) The match may be in any eligible form of match except those in 

Sec.  92.220(a)(2) (forbearance of fees), (a)(4) (on-site and off-site 

infrastructure), (a)(10) (direct cost of supportive services) and 

(a)(11) (direct costs of homebuyer counseling services).

    (v) Match contributions to mixed-use or mixed-income projects that 

contain affordable housing units will be recognized only if the 

contribution is made to the project's affordable housing units.



[61 FR 48750, Sept. 16, 1996, as amended at 62 FR 28929, May 28, 1997]