24 C.F.R. § 401.474 Project accounts.
Title 24 - Housing and Urban Development
(a) Accounts from other projects. The accounts listed in §401.472(a)(1) may be used for other eligible projects only if: (1) The projects are included in a Consolidated Restructuring Plan under §401.401; and (2) The funds are used for rehabilitation or to reduce a section 541(b) claim paid by HUD under §401.471. (b) Distribution to owner. The Restructuring Plan may provide for a one-time distribution to the owner, not to exceed 10 percent of the excess funds in project accounts, to be released after completion of the rehabilitation required by the Restructuring Plan.
Title 24: Housing and Urban Development
PART 401—MULTIFAMILY HOUSING MORTGAGE AND HOUSING ASSISTANCE RESTRUCTURING PROGRAM (MARK-TO-MARKET)
Subpart C—Restructuring Plan
§ 401.474 Project accounts.
