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Title 24: Housing and Urban Development
Subtitle A: Office of the Secretary, Department of Housing and Urban Development
PART 92: HOME INVESTMENT PARTNERSHIPS PROGRAM
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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