When must the Restructuring Plan require project-based assistance?

24 C.F.R. § 401.420
in effectEffective: 2024-07-01
Sign in to generate a plain English summaryAsk Belisarius Agent
The Restructuring Plan must provide for the section 8 contract to be renewed as project-based assistance, subject to the availability of funds for this purpose, if: (a) The PAE determines there is a market-wide vacancy rate of 6 percent or less; (b) At least 50 percent of the units in the project are occupied by elderly families, disabled families, or elderly and disabled families; or (c) The project is held by a nonprofit cooperative ownership housing corporation or nonprofit cooperative housing trust.

Starting a business? Corpus forms LLCs in all 50 states and DC.