[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: 24CFR92.63]



[Page 598]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 92_HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents

 

                      Subpart B_Allocation Formula

 

Sec.  92.63  Amendments to program description.



    An insular area must submit to HUD for approval any substantial 

change in its HUD-approved program description that it makes and must 

document any other changes in its file. A substantial change involves a 

change in the guidelines for resale or recapture (Sec.  92.61(b)(4)), 

other forms of investment (Sec.  92.61(b)(6)), minority and women 

business outreach program (Sec.  92.61(b)(7)) or refinancing (Sec.  

92.61(b)(8)); or a change in the tenure type of the project or 

activities; or a funding increase to a project or activity of $100,000 

or 50% (whichever is greater). The HUD Field Office will notify the 

insular area if its program description, as amended, does not permit 

determinations to be made under Sec.  92.61 (b)(4), (b)(6), (b)(7), or 

(b)(8), or if the level of proposed projects or eligible activities is 

not within the management capability demonstrated by past performance in 

housing and community development programs, within 30 days of receipt. 

The insular area will have a reasonable period of time, agreed upon 

mutually, to submit the necessary supporting information to revise the 

proposed projects or activities in its program description.