[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: 24CFR954.300]



[Page 415-416]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

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

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 954_INDIAN HOME PROGRAM--Table of Contents

 

             Subpart C_Eligible Activities and Affordability

 

Sec.  954.300  Eligible activities.





    (a) Eligible activities--(1) General. HOME funds may be used by a 

grantee to provide incentives to develop and support affordable rental 

housing and homeownership affordability and to provide payment of 

reasonable administrative and planning costs. The housing must be 

permanent or transitional housing, and includes permanent housing for 

disabled homeless persons, and single-room occupancy housing. The 

specific eligible costs for these activities are set forth in Sec.  

954.303 and Sec.  954.304.

    (2) Acquisition of vacant land or demolition must be undertaken only 

as an integral part of a particular HOME new construction project.

    (3) Manufactured housing. Purchase and/or rehabilitation of a 

manufactured housing unit qualifies as affordable housing only if, at 

the time of project completion, the unit:

    (i) Is situated on a permanent foundation (except--for 

rehabilitation not involving purchase--when assisting existing unit 

owners who rent the lot on which their unit sits);



[[Page 416]]



    (ii) Is connected to permanent utility hook-ups;

    (iii) Is located on land that is held in fee-simple title, land-

trust, or long-term ground lease with a term at least equal to that of 

the appropriate affordability period;

    (iv) Meets the construction standards established under 24 CFR part 

3280 if produced after June 15, 1976. If the unit was produced prior to 

June 16, 1976, it must comply with applicable tribal, State or local 

codes; and

    (v) In cases where the owner of a manufactured housing unit does not 

hold fee-simple title to the land on which the unit is located, the 

owner may be assisted in purchasing the land under provisions governing 

rehabilitation not involving purchase.

    (b) Forms of assistance. A grantee may invest HOME funds as equity 

investments, interest-bearing loans or advances, noninterest-bearing 

loans or advances, interest subsidies consistent with the purposes of 

this part, deferred payment loans, grants, or other forms of assistance 

that HUD determines to be consistent with the purposes of this part. 

Each grantee has the right to establish the terms of assistance, subject 

to the requirements of this part.