CFR > Title 24 - Housing and Urban Development > CHAPTER IX—OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT > PART 983—PROJECT-BASED VOUCHER (PBV) PROGRAM > SUBPART D—Requirements for Rehabilitated and Newly Constructed Units (§983.151 to §983.156) > 983.153—When Agreement is executed.

983.153—When Agreement is executed.

(a) Prohibition of excess subsidy. The PHA may not enter the Agreement with the owner until the subsidy layering review is completed (see § 983.55 ).
(b) Environmental approval. The PHA may not enter the Agreement with the owner until the environmental review is completed and the PHA has received the environmental approval (see § 983.58 ).
(c) Prompt execution of Agreement. The Agreement must be executed promptly after PHA notice of proposal selection to the selected owner.