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

Title 24Subtitle APart 92Subpart M → §92.616


Title 24: Housing and Urban Development
PART 92—HOME INVESTMENT PARTNERSHIPS PROGRAM
Subpart M—American Dream Downpayment Initiative


§92.616   Program administration.

The following program administration requirements contained in subpart K of this part apply to the ADDI:

(a) HOME Investment Trust Fund. The requirements regarding the HOME Investment Trust Fund contained in §92.500 apply to the ADDI, with the exception of paragraphs (c)(2) and (d)(1)(A).

(b) HOME Investment Partnership Agreement. The requirements regarding HOME Investment Partnership Agreements contained in §92.501 apply to the ADDI.

(c) Program disbursement and information system. The requirements regarding program disbursement and information systems contained in §92.502 apply to the ADDI.

(d) Program income, repayments and recaptured funds. The requirements regarding program income, repayments, and recaptured funds contained in §92.503 apply to the ADDI, except the program income and recaptured funds must be deposited in the participating jurisdiction's HOME investments trust fund local account and used in accordance with the HOME program requirements.

(e) Participating jurisdiction responsibilities and written agreements. The requirements regarding participating jurisdiction responsibilities and written agreements contained in §92.504 apply to the ADDI, with the modification that the written agreement is not required to cover any HOME requirement that is not applicable to the ADDI.

(f) Applicability of uniform administrative requirements. The uniform administrative requirements contained in §982.505 apply to the ADDI.

(g) Audit. The audit requirements contained in §92.506 apply to the ADDI.

(h) Closeout. The closeout requirements contained in §92.507 apply to the ADDI.

(i) Recordkeeping. The project records must include records demonstrating that the family qualifies as a first-time homebuyer. The recordkeeping requirements contained in §92.508 apply to the ADDI, with the exception of the following paragraphs:

(1) Paragraph (a)(1);

(2) Paragraphs (a)(2)(iv), (a)(2)(v), (a)(2)(vi), (a)(2)(xi), and (a)(2)(xii);

(3) Paragraphs (a)(3)(vi), (a)(3)(vii), (a)(3)(viii), (a)(3)(ix), and (a)(3)(xiii);

(4) Paragraph (a)(4);

(5) Paragraphs (a)(7)(i)(B), (a)(7)(i)(C), (a)(7)(ii)(A), and (a)(7)(ix) (in addition, the requirements of paragraph (a)(7)(iv) apply to FY2003 ADDI funds only); and

(6) Paragraphs (c)(1) and (c)(3) (in addition, the requirements of paragraph (c)(5) apply to FY2003 ADDI funds only).

(j) Performance reports. The requirements regarding performance reports contained in §92.509 apply to the ADDI.

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