Louisiana Administrative Code
Title 16 - COMMUNITY AFFAIRS
Part II - Housing Programs
Chapter 3 - CHDO Homeownership Housing Program (Revolving Loan Pool)
Section II-309 - Maximum Home Fund Allocations
Universal Citation: LA Admin Code II-309
Current through Register Vol. 50, No. 9, September 20, 2024
A. No project will be allocated home funds under the CHDO Homeownership Program in excess of $200,000.
B. No related persons, entities, principals thereof or agents thereof having an identity of interest shall be allocated HOME funds under the CHDO Homeownership Housing Program in excess of $200,000.
1. Developer
fees, builder's profit and builder's overhead shall not exceed the amount
permitted under HUD's administrative guidelines on subsidy layering without
approval of the agency.
2. The
maximum amount of HOME funds allowable per project is the lesser of $200,000 or
85 percent of total development cost of units proposed in any phase of the
project proposal.
AUTHORITY NOTE: Promulgated in accordance with R.S. 40:600.6.
Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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