§ 1000.147. When does housing qualify as affordable housing under NAHASDA?
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/us/cfr/t24/s§ 1000.147·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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. \[63 FR 12349, Mar. 12, 1998. Redesignated at 77 FR 71526, Dec. 3, 2012\]