[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: 24CFR92.250]



[Page 619-620]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 92_HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents

 

                     Subpart F_Project Requirements

 

Sec.  92.250  Maximum per-unit subsidy amount and subsidy layering.





    (a) Maximum per-unit subsidy amount. The total amount of HOME funds 

and ADDI funds that a participating jurisdiction may invest on a per-

unit basis in affordable housing may not exceed the per-unit dollar 

limitations established under section 221(d)(3)(ii) of the National 

Housing Act (12 U.S.C. 17151(d)(3)(ii)) for elevator-type projects that 

apply to the area in which the housing is located. These limits are 

available from the Multifamily Division in the HUD Field Office. If the 

participating jurisdiction's per-unit subsidy amount has already been 

increased to 210% as permitted under section 221(d)(3)(ii) of the 

National Housing Act, upon request of the Field Office, HUD will allow 

the per-



[[Page 620]]



unit subsidy amount to be increased on a program-wide basis to an 

amount, up to 240% of the original per unit limits.

    (b) Subsidy layering. Before committing funds to a project, the 

participating jurisdiction must evaluate the project in accordance with 

guidelines that it has adopted for this purpose and will not invest any 

more HOME funds, in combination with other governmental assistance, than 

is necessary to provide affordable housing.



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

69 FR 16766, Mar. 30, 2004]