[Code of Federal Regulations] [Title 24, Volume 1] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 24CFR92.250] [Page 606-607] TITLE 24--HOUSING AND URBAN DEVELOPMENT PART 92_HOME INVESTMENT PARTNERSHIPS PROGRAM--Table of Contents Subpart F_Project Requirements Sec. 92.250 Maximum per-unit subsidy amount and subsidy layering. (a) Maximum per-unit subsidy amount. The amount of HOME funds that a participating jurisdiction may invest on a per-unit basis in affordable housing may not exceed the per-unit dollar limits established under section 221(d)(3)(ii) of the National Housing Act (12 U.S.C. 17151(d)(3)(ii)) for elevator-type projects that apply to the area in which the housing is located. These limits are available from the Multifamily Division in the HUD Field Office. If the participating jurisdiction's per-unit subsidy amount has already been increased to 210% as permitted under section 221(d)(3)(ii) of the National Housing Act, upon request of the Field Office, HUD will allow the per-unit subsidy amount to be increased on [[Page 607]] a program-wide basis to an amount, up to 240% of the original per unit limits. (b) Subsidy layering. Before committing funds to a project, the participating jurisdiction must evaluate the project in accordance with guidelines that it has adopted for this purpose and will not invest any more HOME funds, in combination with other governmental assistance, than is necessary to provide affordable housing. [61 FR 48750, Sept. 16, 1997, as amended at 62 FR 28929, May 28, 1997] Effective Date Note: At 69 FR 16766, Mar. 30, 2004, Sec. 92.250 was amended by revising the first sentence of Sec. 92.250(a), effective Apr. 29, 2004. For the convenience of the user, the revised text follows: Sec. 92.250 Maximum per-unit subsidy amount and subsidy layering. (a) Maximum per-unit subsidy amount. The total amount of HOME funds and ADDI funds that a participating jurisdiction may invest on a per- unit basis in affordable housing may not exceed the per-unit dollar limitations established under section 221(d)(3)(ii) of the National Housing Act (12 U.S.C. 17151(d)(3)(ii)) for elevator-type projects that apply to the area in which the housing is located. *** * * * * *