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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Commonwealth of Pennsylvania v. James T. Lynn, Secretary of Housing and Urban Development, 501 F.2d 848 (1974)

Citation
Commonwealth of Pennsylvania v. James T. Lynn, Secretary of Housing and Urban Development, 501 F.2d 848 (1974) 3.
Parent Document
Commonwealth of Pennsylvania v. James T. Lynn, Secretary of Housing and Urban Development, 501 F.2d 848 (1974)
Effective Date
1974-09-25

Other Sections in This Document (236)

Full Text

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3. Section 236 follows a similar pattern for the purpose of “reducing rentals for lower income families” in housing owned by non-profit or “limited dividend” sponsors. HUD and the sponsors enter into an agreement for government regulation of rents and tenant eligibility, in return for which the government insures the mortgage and undertakes to pay the mortgage interest in excess of one per cent. Tenants pay rent calculated on the basis of operating expenses and mortgage interest at one per cent, or twenty-five per cent of their income, whichever is greater.