What types of Projects are ineligible for Credit?
Generally, residential properties used for the following purposes are ineligible for Credit: • Transient housing: a Housing Unit that does not have a minimum initial lease term of six months or does not meet the definition of Transitional Housing. • Nursing homes, life care facilities and retirement homes providing significant services other than housing. • Dormitories and most student housing. • Mobile home parks and courts which are used on a Transient Basis. • Buildings which have four or less Housing Units where the Owner or relative of the Owner lives in the Project. • Buildings which receive assistance under the HUD Section 8(e)(2) moderate rehabilitation program.
