Definitions.

CFR · 2024-01-01 · US · Title 12

As used in this part: (1) A Bank's AHP; (2) A Bank's CIP; (3) A Bank's RDF program or UDF program using any combination of the targeted beneficiaries and targeted income levels specified in § 1292.1 of this part; and (4) Any other advance or grant program offered by a Bank using targeted beneficiaries and targeted income levels other than those specified in § 1292.1 of this part, established by the Bank with the prior approval of FHFA. (1) Commercial, industrial, manufacturing, social service, and public facility projects and activities; and (2) Public or private infrastructure projects, such as roads, utilities, and sewers. (1) Individual owner-occupied housing units, each of which is purchased or owned by a family with an income at or below the targeted income level; (2) Projects involving multiple units of owner-occupied housing in which at least 51% of the units are owned or are intended to be purchased by families with incomes at or below the targeted income level; (3) Rental housing where at least 51% of the units in the project are occupied by, or the rents are affordable to, families with incomes at or below the targeted income level; or (4) Manufactured housing parks where: (i) At least 51% of the units in the project are occupied by, or the rents are affordable to, families with incomes at or below the targeted income level; or (ii) The project is located in a neighborhood with a median income at or below the targeted income level. (i) The median income for the area

official document · source cfr-2024 · id 12:§ 1292.1