NSP FAQ
Q

If property acquired with NSP funds will not be occupied prior to the NSP grant closeout, will an executed deed restriction requiring occupancy by a household at or below 50% AMI meet the 25% low-income set-aside requirement?

Date Published: October 2012

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A

No. If the property is not occupied by the time of grant closeout, the expenditures do not count towards meeting the 25% set-aside requirement. But remember, the grant cannot be closed out until all units are occupied.


Tags: NSP Program Requirements - 25% Set Aside

FAQ ID:

415