24 C.F.R. § 585.310 Project-related restrictions applicable to Youthbuild transitional housing for the homeless.
Title 24 - Housing and Urban Development
Where the award of a Youthbuild implementation grant includes the eligible activities of acquisition, architectural and engineering fees, construction, rehabilitation, operating costs or replacement reserves of transitional housing units, and where the costs for these activities are funded, in whole or in part, with Youthbuild grant funds, the housing project shall be required to comply with the following Youthbuild project-related restrictions: (a) Limitations on profit. Youthbuild residential rental housing projects meeting the requirements of this section shall be restricted from producing profit in excess of the limitations set out in sections 455(c)(1) and (2) of NAHA. (b) Restrictions on conveyance. Conveyance restrictions apply to Youthbuild transitional housing projects meeting the requirements of this section. Ownership of the property may not be conveyed unless the instrument of conveyance requires a subsequent owner to comply with the same restrictions imposed upon the original owner for the balance of the 10 year period. (c) Program requirements for transitional housing. (1) Youthbuild transitional housing projects meeting the requirements of this section shall adhere to the requirements regarding service delivery, housing standards and rent limitations applicable to comparable housing receiving assistance under the Transitional Housing component of the Supportive Housing Program (title IV of the Stewart B. McKinney Homeless Assistance Act). (2) The Secretary may waive these requirements to permit the conversion of a Youthbuild transitional housing project to a permanent housing project only if such housing complies with the Youthbuild project-related restrictions for residential rental housing projects found in §585.309. (d) Ten year restriction. The restrictions listed in paragraphs (a) through (c) of this section shall remain in force for a period of not less than 10 years after construction completion and issuance of an occupancy permit for a Youthbuild transitional housing project receiving Youthbuild assistance. [60 FR 9737, Feb. 21, 1995, as amended at 61 FR 52187, Oct. 4, 1996]
Title 24: Housing and Urban Development
PART 585—YOUTHBUILD PROGRAM
Subpart D—Youthbuild Implementation Grants
§ 585.310 Project-related restrictions applicable to Youthbuild transitional housing for the homeless.
