[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: 24CFR92.63]

[Page 603]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
PART 92_HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents
 
                      Subpart B_Allocation Formula
 
Sec.  92.63  Amendments to program description.

    An insular area must submit to HUD for approval any substantial 
change in its HUD-approved program description that it makes and must 
document any other changes in its file. A substantial change involves a 
change in the guidelines for resale or recapture (Sec.  92.61(b)(4)), 
other forms of investment (Sec.  92.61(b)(6)), minority and women 
business outreach program (Sec.  92.61(b)(7)) or refinancing (Sec.  
92.61(b)(8)); or a change in the tenure type of the project or 
activities; or a funding increase to a project or activity of $100,000 
or 50% (whichever is greater). The HUD Field Office will notify the 
insular area if its program description, as amended, does not permit 
determinations to be made under Sec.  92.61 (b)(4), (b)(6), (b)(7), or 
(b)(8), or if the level of proposed projects or eligible activities is 
not within the management capability demonstrated by past performance in 
housing and community development programs, within 30 days of receipt. 
The insular area will have a reasonable period of time, agreed upon 
mutually, to submit the necessary supporting information to revise the 
proposed projects or activities in its program description.