§ 92.219. Recognition of matching contribution.

469 words·~2 min read·/us/cfr/t24/s§ 92.219·

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(a)Match contribution to HOME-assisted housing. A contribution is recognized as a matching contribution if it is made with respect to:

(1)A tenant who is assisted with HOME funds;

(2)A HOME-assisted unit;

(3)The portion of a project that is not HOME-assisted provided that at least 50 percent of the housing units in the project are HOME-assisted. If the match contribution to the portion of the project that is not HOME-assisted meets the affordable housing requirements of § 92.219(b)(2), the percentage requirement for HOME-assisted units does not apply; or

(4)The commercial space in a mixed-use project in which at least 51 percent of the floor space is residential provided that at least 50 percent of the housing units are HOME-assisted.

(b)Match contribution to affordable housing that is not HOME-assisted. The following requirements apply for recognition of matching contributions made to affordable housing that is not HOME-assisted:

(1)For tenant-based rental assistance that is not HOME-assisted:

(i)The contribution must be made with respect to a tenant who is assisted with tenant-based rental assistance that meets the requirements of § 92.203 (Income determinations) and paragraphs (a), (c), (f), and

(i)of § 92.209 (Tenant-based rental assistance); and

(ii)The participating jurisdiction must demonstrate in writing that such assistance meets the provisions of §§ 92.203 and 92.209 (except § 92.209(e)).

(2)For affordable housing that is not HOME-assisted:

(i)The contribution must be made with respect to housing that qualifies as affordable housing under § 92.252 or § 92.254.

(ii)The participating jurisdiction must execute, with the owner of the housing (or, if the participating jurisdiction is the owner, with the manager or developer), a written agreement that imposes and enumerates all of the requirements applicable to the project, including affordability requirements in § 92.252 or § 92.254; tenant protection requirements in § 92.253; property standards requirements in § 92.251; and income determination requirements in § 92.203. This written agreement must be executed before any match contributions may be made.

(iii)A participating jurisdiction must establish a procedure to monitor HOME match-eligible housing to ensure continued compliance with the requirements of § 92.203 (Income determinations), § 92.252 (Qualification as affordable housing: Rental housing), § 92.253 (Tenant protections), and § 92.254 (Qualification as affordable housing: Homeownership). No other HOME requirements apply.

(iv)The match may be in any eligible form of match except those in § 92.220(a)(2) (forbearance of fees), (a)(4) (on-site and off-site infrastructure), (a)(10) (direct cost of supportive services) and (a)(11) (direct costs of homebuyer counseling services).

(v)Match contributions to mixed-use or mixed-income projects that contain affordable housing units will be recognized only if the contribution is made to the project's affordable housing units. \[61 FR 48750, Sept. 16, 1996, as amended at 62 FR 28929, May 28, 1997; 90 FR 870, Jan. 6, 2025\]

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§ 92.219

Recognition of matching contribution.

Fed. Reg.×7

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