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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 7 - Agriculture |
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Subtitle B - Regulations of the Department of Agriculture |
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Chapter XXXV - Rural Housing Service, Department of Agriculture |
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Part 3560 - Direct Multi-Family Housing Loans and Grants |
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Subpart F - Rental Subsidies |
§ 3560.258 - Terms of agreement.
Latest version.
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§ 3560.258 Terms of agreement.
(a) Term of agreement. Rental assistance agreements will be consistent with available funding. Rental assistance agreements expire when the funds obligated for rental assistance units are fully disbursed in accordance with the conditions of the agreementhave a term of the later of 12 months from the first disbursement of the obligation or when funds under the agreement are exhausted.
(b) Replacing expiring obligations. To the extent funds are available for replacement units, the Agency will renew rental assistance agreements. Rental assistance agreements may be renewed in accordance with § 3560.255(a)(1).
[87 FR 11283, Mar. 1, 2022]