NSP FAQ
Q

If a grantee uses NSP funds to acquire residential properties, but does not redevelop or rehabilitate them before closeout, can these properties still count toward the 25% low-income set-aside?

Date Published: October 2012

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A

No. The income targeting requirement is based on actual occupancy. If the houses are not occupied by the time of grant closeout, the properties do not count toward the 25% set-aside requirement.


Tags: NSP Program Requirements - 25% Set Aside

FAQ ID:

395