[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: 24CFR968.125]



[Page 507]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

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

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 968_PUBLIC HOUSING MODERNIZATION--Table of Contents

 

                            Subpart A_General

 

Sec.  968.125  Initiation of modernization activities.



    After HUD has approved the modernization program and entered into an 

ACC amendment with the PHA, a PHA shall undertake the modernization 

activities and expenditures set forth in its approved CIAP budget or CGP 

Annual Statement/Five-Year Action Plan in a timely, efficient and 

economical manner. All approved funding must be obligated within two 

years of approval and expended within three years of approval unless HUD 

approves a longer time period in the PHA's implementation schedule, as 

set forth in the CIAP budget or CGP Annual Statement. HUD may approve a 

longer time period for such reasons as the large size of the grant or 

the complexity of the work.



[61 FR 8741, Mar. 5, 1996]