Designated places for section 515 housing.

CFR · 2024-01-01 · US · Title 7

(a) (1) Qualification as a rural area as defined in § 3560.11, (2) Lack of mortgage credit, and (3) Demonstrated need for MFH based on: (i) The incidence of poverty, (ii) The existence of substandard housing, (iii) The lack of affordable housing, and (iv) The following high need areas: (A) Places identified in the state Consolidated Plan or similar state plan or needs assessment report, (B) Indian reservations or communities located within the boundaries of tribal allotted or trust land, and (C) EZ/EC or REAP communities. (b) (c) (d) (i) The Agency has selected another MFH proposal in the designated place for processing. (ii) A previously funded Agency, the U.S. Department of Housing and Urban Development (HUD), low-income housing tax credit or other similar assisted MFH in the designated place has not been completed or has not reached projected occupancy levels. (iii) Existing assisted MFH in the designated place is experiencing high vacancy levels. (iv) A special note rent or other loan servicing tool is pending or in effect for other assisted housing in the designated place, or (v) The need in the market area is for additional rental assistance and not additional rental units. (2) Exceptions to the provisions in § 3560.57(d)(1) may be made: (i) When a group home is proposed for persons with disabilities in an area (ii) There is a compelling need for additional MFH, for example when the units that have been approved or are under development represent only a small portion of

official document · source cfr-2024 · id 7:§ 3560.57