Monitoring under the General Fund and Targeted Funds.

CFR · 2024-01-01 · US · Title 12

(a) (1) (i) The project is making satisfactory progress towards completion, in compliance with the commitments made in the approved AHP application, Bank policies, and the requirements of this part; and (ii) Following completion of the project, satisfactory progress is being made towards occupancy of the project by eligible households. (2) ( (ii) The household incomes and rents comply with the income targeting and rent commitments made in the approved AHP application; (iii) The project's costs were reasonable in accordance with the Bank's project cost guidelines, and the AHP subsidies were necessary for the completion of the project as currently structured, as determined pursuant to § 1291.24(a)(4); (iv) Each AHP-assisted unit of an owner-occupied project and rental project is subject to an AHP retention agreement that meets the requirements of § 1291.15(a)(7) and (8), respectively; and (v) The services and activities committed in the approved AHP application have been provided. (3) (i) Bank review within a reasonable period of time after project completion of back-up project documentation regarding household incomes and rents (not including the rent roll) maintained by the project sponsor or owner, except for projects that received funds from other federal, state or local government entities whose programs meet the requirements in paragraphs (b)(1) and (2) of this section as specified in separate FHFA guidance, or projects (ii) Maintenance and Bank review of other project do

official document · source cfr-2024 · id 12:§ 1291.50