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Code of Federal Regulations Title 24. Housing and Urban Development § 24.92.612 Project requirements

Current as of January 02, 2025 | Updated by Findlaw Staff

The following project requirements contained in subpart F of this part apply to the ADDI:

(a) Maximum per-unit subsidy amount and subsidy layering. The maximum per-unit subsidy limits and subsidy layering requirements contained in § 92.250 apply to the total HOME and ADDI funds in a project.

(b) Property standards. Housing assisted with ADDI funds must meet the property standards contained in § 92.251.

(c) Qualification as affordable housing. Housing assisted with ADDI funds must meet the affordability requirements contained in § 92.254(a) and (c). If a project receives both HOME and ADDI funds, the total of HOME and ADDI funds in the project is used for calculating the period of affordability described in § 92.254(a)(4) and applied to resales (§ 92.254(a)(5)(i)) and recaptures (§ 92.254(a)(5)(ii)).

(d) Faith-based organizations. Faith-based organizations are eligible to participate in the ADDI as subrecipients or contractors as provided in § 92.257.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 24. Housing and Urban Development § 24.92.612 Project requirements - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-24-housing-and-urban-development/cfr-sect-24-92-612/

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