[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR941.600]



[Page 383]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 941_PUBLIC HOUSING DEVELOPMENT--Table of Contents

 

Subpart F_Public/Private Partnerships for the Mixed Finance Development 

                         of Public Housing Units

 

Sec.  941.600  Purpose.



    Source: 61 FR 19714, May 2, 1996, unless otherwise noted.





    (a)(1) This subpart authorizes a PHA to use a combination of private 

financing and public housing development funds to develop public housing 

units, and is designed to enable PHAs and their partners to structure 

transactions that make use of private and/or public sources of 

financing. Many potential scenarios for ownership and transaction 

structures exist, ranging from the PHA or its partner(s) holding no 

ownership interest, a partial ownership interest, or 100 percent of the 

ownership interest of the public housing units that are to be developed. 

PHAs and/or their partner(s) may choose to enter into a partnership or 

other contractual arrangement with a third-party entity for the mixed-

finance development and/or ownership of public housing units. If this 

entity has primary responsibility along with the PHA for the development 

of these units, it is referred to for purposes of this subpart as the 

PHA's ``partner.'' The entity that ultimately owns the public housing 

units, whether or not the PHA retains an ownership interest, is referred 

to as the ``owner entity.'' The resulting ``mixed-finance'' developments 

may consist of 100 percent public housing units, or may consist of 

public housing and non-public housing units.

    (2) This subpart sets forth the requirements that must be met by the 

PHA and its partner(s) before HUD can approve a proposal for mixed-

finance development, and also sets forth continuing requirements that 

apply throughout the development and operation of the development by the 

owner entity.

    (b) Under this subpart, public housing units that are built in a 

mixed-finance development must be comparable in size, location, external 

appearance, and distribution to the non-public housing units within the 

development.