§ 12774 - Other requirements

CHAPTER 130— NATIONAL AFFORDABLE HOUSING › SUBCHAPTER II— INVESTMENT IN AFFORDABLE HOUSING

(a) A community housing development organization that receives assistance under this part shall provide a plan for and follow a program of tenant participation in management decisions and shall adhere to a fair lease and grievance procedure approved by the participating jurisdiction.

(b) A community housing development organization may not receive assistance under this subchapter for any fiscal year in an amount that provides more than 50 percent of the organization’s total operating budget in the fiscal year or $50,000 annually, whichever is greater.

(c) The Secretary shall take account of assistance provided to a project under this part when adjusting other assistance to be provided to the project as required by section 3545(d) of this title.

Notes

Editorial Notes

Amendments

1992—Subsec. (b). Pub. L. 102–550 struck out “, together with other Federal assistance,” after “in an amount that” and inserted before period “or $50,000 annually, whichever is greater”.

Statutory Notes and Related Subsidiaries

Effective Date of 1992 Amendment

Amendment by Pub. L. 102–550 applicable to unexpended funds allocated under subchapter II of this chapter in fiscal year 1992, except as otherwise specifically provided, see section 223 of Pub. L. 102–550, set out as a note under section 12704 of this title.