[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: 24CFR941.604]



[Page 384]

 

                 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.  941.604  Definitions.



    In addition to the definitions set forth in Sec.  941.602(a)(1), the 

following definitions are applicable to this subpart:

    Development. A housing facility consisting of public housing units, 

and that may also consist of non-public housing units, that has been 

developed, or that will be developed, using mixed-finance strategies 

under this subpart.

    Mixed-finance. The combined use of publicly and privately financed 

sources of funds for the development of public housing units under this 

subpart.

    Owner Entity. The entity that will own the public housing units, if 

the PHA holds less than one hundred percent of the ownership interest; 

or the lessee under a ground lease from the PHA. The owner entity may be 

a partnership that includes the PHA.

    Participating party. Any person, firm, corporation, or public or 

private entity that:

    (1) Agrees to provide financial or other resources to carry out the 

approved proposal, or specified activities contained in the proposal; or

    (2) Otherwise participates in the development and/or operation of 

the public housing units and will receive funds derived from HUD with 

respect to such participation. The term ``participating party'' includes 

an owner entity or partner.

    Partner. A third party entity with whom the PHA has entered into a 

partnership or other contractual arrangement to provide for the mixed-

finance development of public housing units pursuant to this subpart, 

and that has primary responsibility with the PHA for the development of 

the housing units under the terms of the approved proposal.

    Proposal. For purposes of this subpart only, the term ``proposal'' 

means a detailed PHA submission of information under Sec.  941.606.

    Public Housing Agency (PHA). Any State, county, municipality, or 

other governmental entity or public body (or agency or instrumentality 

thereof) which is authorized to engage in or assist in the development 

or operation of low-income housing under this part. For purposes of this 

subpart, the term ``PHA'' also encompasses any agency or instrumentality 

of the PHA.

    Public housing unit. A unit that is eligible to receive operating 

subsidy pursuant to section 9 of the Act (42 U.S.C. 1437g).