Section 521 Rental Assistance

Business / Agriculture / Section 521 Rental Assistance: Rental assistance authorized under Section 521 of the Housing Act of 1949. Owners of housing financed under Section 515 or Section 514 may receive rental assistance payments from the Rural Housing Service (RHS). The assistance payments enable eligible tenants to make monthly rent payments that do not exceed the greater of (1) 30 percent of monthly adjusted family income, (2) 10 percent of monthly income, or (3) for welfare recipients, the portion of the family’s welfare payment that is designated for housing costs. The rental assistance payments, which are made directly to the borrowers, make up the difference between the tenants’ payments and the RHS-approved rent for the units. Borrowers must agree to operate the property on a limited profit or nonprofit basis. The term of the rental assistance agreement is 20 years for new construction projects and 5 years for existing projects. Agreements may be renewed for up to 5 years. An eligible borrower who does not participate in the program may be petitioned to participate by 20 percent or more of the tenants eligible for rental assistance.
Search Google for Section 521 Rental Assistance:

Other Words for Assistance

Assistance Noun Synonyms: help, aid, support, succor, backing, reinforcement, relief, benefit
MORE

Other Words for Section

Section Adjective Synonyms: part, division, department, branch, sector, group, detachment, segment, portion, subdivision, component, element
Section Noun Synonyms: sample, slice, cross-section, fraction
MORE

Section 416

Business / Agriculture / Section 416: A section of the Agricultural Act of 1949 that provides for the disposition of agricultural commodities held by the Commodity Credit Corporation to prevent waste. Disposal is usually carried out by do MORE

Section 404

Business / Agriculture / Section 404: A provision of the Clean Water Act establishing a program regulating the discharge of dredge or fill material into the nation’s waters. Permits for individual dredge or fill activities are issued by MORE

Section 4 General Or Basic Assistance

Business / Agriculture / Section 4 General Or Basic Assistance: This refers to the section of National School Lunch Act requiring the federal government to subsidize all lunches served through the school lunch program, regardless of the income of the participant. MORE