§1000.147. When does housing qualify as affordable housing under NAHASDA?

24 C.F.R. § 1000.147

(a)

Housing qualifies as affordable housing, provided that the family occupying the unit is low-income at the following times:

(1)

In the case of rental housing, at the time of the family's initial occupancy of such unit;

(2)

In the case of a contract to purchase existing housing, at the time of purchase;

(3)

In the case of a lease-purchase agreement for existing housing or for housing to be constructed, at the time the agreement is signed; and

(4)

In the case of a contract to purchase housing to be constructed, at the time the contract is signed.

(b)

Families that are not low-income as described in this section may be eligible under § 1000.104 or § 1000.110.

Notes, amendments, and revision history

[63 FR 12349, Mar. 12, 1998. Redesignated at 77 FR 71526, Dec. 3, 2012]

Authority: 25 U.S.C. 4101 et seq.; 42 U.S.C. 3535(d).

Source: 63 FR 12349, Mar. 12, 1998, unless otherwise noted.

[63 FR 12349, Mar. 12, 1998. Redesignated at 77 FR 71526, Dec. 3, 2012]