[Code of Federal Regulations]
[Title 24, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR92.250]

[Page 624]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
PART 92_HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents
 
                     Subpart F_Project Requirements
 
Sec.  92.250  Maximum per-unit subsidy amount and subsidy layering.


    (a) Maximum per-unit subsidy amount. The total amount of HOME funds 
and ADDI funds that a participating jurisdiction may invest on a per-
unit basis in affordable housing may not exceed the per-unit dollar 
limitations established under section 221(d)(3)(ii) of the National 
Housing Act (12 U.S.C. 17151(d)(3)(ii)) for elevator-type projects that 
apply to the area in which the housing is located. These limits are 
available from the Multifamily Division in the HUD Field Office. If the 
participating jurisdiction's per-unit subsidy amount has already been 
increased to 210% as permitted under section 221(d)(3)(ii) of the 
National Housing Act, upon request of the Field Office, HUD will allow 
the per-unit subsidy amount to be increased on a program-wide basis to 
an amount, up to 240% of the original per unit limits.
    (b) Subsidy layering. Before committing funds to a project, the 
participating jurisdiction must evaluate the project in accordance with 
guidelines that it has adopted for this purpose and will not invest any 
more HOME funds, in combination with other governmental assistance, than 
is necessary to provide affordable housing.

[61 FR 48750, Sept. 16, 1997, as amended at 62 FR 28929, May 28, 1997; 
69 FR 16766, Mar. 30, 2004]