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In the third topic of this module, we introduced some of the issues that arise when HOME and LIHTC funds are joined. This topic will take a closer look at the occupancy requirements affecting the two programs.
Both the HOME Program and LIHTC place restrictions on the income of tenants who occupy rent-restricted units. Projects that combine HOME and LIHTC funds must be in compliance with both sets of rules. Although the rules are similar for the programs, they do have differences that project administrators need to take into consideration when developing their compliance strategies.
This topic covers the occupancy rules for each program and discusses how they intersect when both HOME and LIHTC funds are used. Please note that these are the minimal program requirements and that the actual requirements, as specified in a property's use agreements, are likely to provide for more than the minimum level of affordability, and more than the minimum level of low-income occupancy.
In this topic, you will learn how to:
- Identify HOME and LIHTC rules regarding occupancy.
- Describe the requirements that apply when combining the two programs.
This topic will cover the following subjects:
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