| (a) Maximum Funding Request. The maximum funding request
for an Application will be identified in the NOFA, and may vary by
development type, set-aside, Priority, or fund source.
(b) Maximum New Construction or Reconstruction Per-Unit
Subsidy Limits. The per-Unit subsidy limit for a Development will
be determined by the Department as the Section 234 Condo limits with
the applicable high cost percentage adjustment in effect at the start
date of the NOFA, which are the maximum MFDL eligible cost per-Unit
subsidy limits that an Applicant may use to determine the amount of
MFDL funds combined with other federal funds that may subsidize a
Unit.
(c) Maximum Rehabilitation Per-Unit Subsidy Limits.
The MFDL eligible cost per-Unit to rehabilitate a Development may
not exceed the HUD 221(d)(4) statutory limits, subject to high cost
factors as published in the NOFA.
(d) Minimum Number of MFDL Units. The minimum required
number of MFDL Units will be determined by the MFDL per-Unit subsidy
limits and the cost allocation analysis, which will ensure that the
amount of MFDL Units as a percentage of total Units is equal to or
greater than the percentage of MFDL funds requested as a percentage
of total eligible MFDL Development costs.
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