[Code of Federal Regulations]
[Title 24, Volume 4]
[Revised as of April 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR941.600]

[Page 383]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 
 
PART 941_PUBLIC HOUSING DEVELOPMENT--Table of Contents
 
Subpart F_Public/Private Partnerships for the Mixed Finance Development 
                         of Public Housing Units
 
Sec.  941.600  Purpose.

    Source: 61 FR 19714, May 2, 1996, unless otherwise noted.


    (a)(1) This subpart authorizes a PHA to use a combination of private 
financing and public housing development funds to develop public housing 
units, and is designed to enable PHAs and their partners to structure 
transactions that make use of private and/or public sources of 
financing. Many potential scenarios for ownership and transaction 
structures exist, ranging from the PHA or its partner(s) holding no 
ownership interest, a partial ownership interest, or 100 percent of the 
ownership interest of the public housing units that are to be developed. 
PHAs and/or their partner(s) may choose to enter into a partnership or 
other contractual arrangement with a third-party entity for the mixed-
finance development and/or ownership of public housing units. If this 
entity has primary responsibility along with the PHA for the development 
of these units, it is referred to for purposes of this subpart as the 
PHA's ``partner.'' The entity that ultimately owns the public housing 
units, whether or not the PHA retains an ownership interest, is referred 
to as the ``owner entity.'' The resulting ``mixed-finance'' developments 
may consist of 100 percent public housing units, or may consist of 
public housing and non-public housing units.
    (2) This subpart sets forth the requirements that must be met by the 
PHA and its partner(s) before HUD can approve a proposal for mixed-
finance development, and also sets forth continuing requirements that 
apply throughout the development and operation of the development by the 
owner entity.
    (b) Under this subpart, public housing units that are built in a 
mixed-finance development must be comparable in size, location, external 
appearance, and distribution to the non-public housing units within the 
development.