CFR > Title 24 - Housing and Urban Development > CHAPTER VIII—OFFICE OF THE ASSISTANT SECRETARY FOR HOUSING-FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (SECTION 8 HOUSING ASSISTANCE PROGRAMS, SECTION 202 DIRECT L > PART 886—SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM—SPECIAL ALLOCATIONS > SUBPART C—Section 8 Housing Assistance Program for the Disposition of HUD-Owned Projects (§886.301 to §886.338) > 886.310—Initial contract rents.

886.310—Initial contract rents.

HUD will establish contract rents at levels that, together with other resources available to the purchasers, provide sufficient amounts for the necessary costs of rehabilitating and operating the multifamily housing project and do not exceed 120 percent of the most recently published Section 8 Fair Market Rents for Existing Housing ( 24 CFR part 888, subpart A).

Code of Federal Regulations

[60 FR 11859, Mar. 2, 1995]