NSP FAQ
Q

How should grantees count NSP funds expended for multi-unit housing properties toward the 25% low-income set-aside requirement?

Date Published: October 2012

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A

If a structure is assisted in whole or in part with NSP funds and contains two or more housing units, the proportion of NSP funds that can be counted toward the low-income targeting requirement is equal to the proportion of units occupied by households at or below 50% AMI. For example, if a grantee spends $1,000,000 of NSP funds on a 10-unit project where four of the ten units rent to households with incomes at or below 50% AMI, 40% of the NSP expenditure counts toward the 25% set-aside.


Tags: NSP Program Requirements - 25% Set Aside

FAQ ID:

419