Statutes, codes, and regulations
Code of Federal Regulations
Title 24 - HOUSING AND URBAN DEVELOPMENTSubtitle B - REGULATIONS RELATING TO HOUSING AND URBAN DEVELOPMENTChapter VIII - OFFICE OF THE ASSISTANT SECRETARY FOR HOUSING-FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (SECTION 8 HOUSING ASSISTANCE PROGRAMS, SECTION 202 DIRECT LOAN PROGRAM, SECTION 202 SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM AND SECTION 811 SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES PROGRAM)Part 882 - SECTION 8 MODERATE REHABILITATION PROGRAMS
Subpart D - SPECIAL PROCEDURES FOR MODERATE REHABILITATION-BASIC POLICIES
Section 882.409 - Contract rents at end of rehabilitation loan term

24 C.F.R. § 882.409

Download
PDF
Current through November 30, 2024
Section 882.409 - Contract rents at end of rehabilitation loan term

For a Contract where the initial Contract Rent was based upon a loan term shorter than 15 years, the Contract must provide for reduction of the Contract Rent effective with the rent for the month following the end of the term of the rehabilitation loan. The amount of the reduction will be the monthly cost of amortization of the rehabilitation loan. This reduction should result in a new Contract Rent equal to the base rent established pursuant to § 882.408(c) plus all subsequent adjustments.

24 C.F.R. §882.409