24 CFR 905.507 - Streamlined application requirements for standard and high-performing PHAs.

§ 905.507 Streamlined application requirements for standard and high-performing PHAs.

(a) PHAs with cumulative CFFP borrowings of less than $2 million and that are standard or high performers under PHAS; PHAs that are high performers under PHAS with cumulative CFFP borrowings of less than $20 million; PHAs that propose to use their CFFP proceeds in a mixed-finance transaction, or proposals where the sizing of the financing is based only upon the use of RHF funds for debt service, shall not be required to submit:

(1) A third-party management assessment under § 905.505(e);

(2) A third-party fairness opinion under § 905.505(k);

(3) An assurance of financial controls and construction management under § 905.505(l).

(b) Notwithstanding § 905.507(a), if HUD determines that interest or other costs do not appear to meet industry norms, or other aspects of the proposal present atypical risks, HUD retains the discretion to require assessments, opinions, or controls, or to return the proposal.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

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United States Code

Title 24 published on 09-Jun-2018 03:51

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR Part 905 after this date.

  • 2017-12-22; vol. 82 # 245 - Friday, December 22, 2017
    1. 82 FR 60693 - Withdrawal of Proposed Rules To Reduce Regulatory and Financial Burden
      GPO FDSys XML | Text
      Withdrawal of proposed rules.
      The proposed rules listed in the SUPPLEMENTARY INFORMATION are withdrawn as of December 22, 2017.
      24 CFR Parts 5, 50, 55, 58, 200, 579, 905, 943, 970, and 972
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