Code of Federal Regulations (alpha)

CFR /  Title 7  /  Part 1940  /  Sec. 1940.575 Section 515 Rural Rental Housing (RRH) loans.

(a) Amount available for allocations. See Sec. 1940.552(a) of this subpart.

(b) Basic formula criteria, data source and weight. See Sec. 1940.552(b) of this subpart.

The criteria used in the basic formula area:

(1) State's percentage of National rural population,

(2) State's percentage of National number of rural occupied substandard units, and

(3) State's percentage of National rural families with incomes below the poverty level. Data source for each of these criterion is based on the latest census data available. Each criterion is assigned a specific weight according to its relevance in determining need. The percentage representing each criterion is multiplied by the weight assigned and summed to arrive at a State factor (SF). SF = (criterion No. 1 x weight of 33\1/3\%) + (criterion No. 2 x weight of 33\1/3\%) + (criterion No. 3 x weight of 33\1/3\%)

(c) Basic formula allocation. See Sec. 1940.552(c) of this subpart.

(d) Transition formula. See Sec. 1940.522(d) of this subpart.

(e) Base allocation. See Sec. 1940.552(e) of this subpart. Jurisdictions receiving administrative allocations do not receive base allocations.

(f) Administrative allocations. See Sec. 1940.552(f) of this subpart. Jurisdictions receiving formula allocations do not receive administrative allocations.

(g) Reserve. See Sec. 1940.552(g) of this subpart.

(h) Pooling of funds. See Sec. 1940.552(h) of this subpart.

(i) Availability of the allocation. See Sec. 1940.552(i) of this subpart.

(j) Suballocation by the State Director. See Sec. 1940.552(j) of this subpart.

(k) Other documentation. Not applicable. [53 FR 26229, July 12, 1988]