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e-CFR data is current as of December 2, 2020

Title 24Subtitle APart 92Subpart M → §92.612

Title 24: Housing and Urban Development
Subpart M—American Dream Downpayment Initiative

§92.612   Project requirements.

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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