CFR

982.521—Rent to owner in subsidized project.

(a) Applicability to subsidized project. This section applies to a program tenancy in any of the following types of federally subsidized project:

(1) An insured or non-insured Section 236 project;

(2) A Section 202 project;

(3) A Section 221(d)(3) below market interest rate (BMIR) project; or

(4) A Section 515 project of the Rural Development Administration.

(b) How rent to owner is determined. The rent to owner is the subsidized rent as determined in accordance with requirements for the applicable federal program listed in paragraph (a) of this section. This determination is not subject to the prohibition against increasing the rent to owner during the initial lease term (see § 982.309 ).

(c) Certificate tenancy—Rent adjustment. Rent to owner for a certificate tenancy is not subject to provisions governing annual adjustment ( § 982.519) or special adjustment ( § 982.520) of rent to owner.

Code of Federal Regulations

[65 FR 16822, Mar. 30, 2000]

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