Transitional Funding definition
Examples of Transitional Funding in a sentence
PHAs are permitted under the Demonstration to use available public housing funding, including Operating Reserves, Capital Funds, and Replacement Housing Factor (RHF) funds (see 24 CFR 905.400(i)), and Demolition and Disposition Transitional Funding (DDTF) (see 24 CFR 905.400(j)), as a source of capital in the development budget to support conversion, whether for rehabilitation or new construction, as well as to increase initial contract rents.
CFP grants may include Formula grants; Demolition or Disposition Transitional Funding (DDTF), which are included in regular Formula grants; and/or funds from older Replacement Housing Factor (RHF) grants (a program later superseded by DDTF).
PHAs are permitted under the Demonstration to use available public housing funding, including Operating Reserves, Capital Funds, and Replacement Housing Factor (RHF) funds, Demolition and Disposition Transitional Funding (DDTF), as a source of capital in the development budget to support conversion, whether for rehabilitation or new construction.
Pursuant to the Funding Law and the 1998 Transitional Funding Order, the Grantee and the Note Issuer are concurrently entering into the Sale Agreement, pursuant to which the Grantee is selling the 1998 Intangible Transition Property to the Note Issuer, and the Grantee may sell Subsequent Intangible Transition Property to the Note Issuer pursuant to Subsequent Sale Agreements.
The Parties hereto agree that, should the Housing Provider receive funding from any municipal, provincial or federal government source or any other source for substantially the same purpose as the Transitional Funding provided under this Agreement, then the Housing Provider will no longer be eligible to receive Transitional Funding provided under this Agreement, unless otherwise agreed to in writing by CMHC.
Unless determined and confirmed in writing by CMHC, Transitional Funding will be payable for a period not exceeding twenty-four (24) months following the Effective Date of this Agreement.
Transitional Funding payment frequency will be determined by CMHC, in its sole discretion.
When the Capital Fund Final Rule was published, it replaced RHF grants with Demolition and Disposition Transitional Funding (DDTF) for public housing units removed from a PHA’s inventory on or after July 1, 2013.
This Agreement shall be the sole agreement in respect of Rental Assistance or Transitional Funding and shall replace any prior legacy program agreements as outlined under Schedule “A” between the Housing Provider and CMHC, except as otherwise provided under this Agreement.
Transitional Funding will be made payable to Housing Providers for activities and costs identified under this Agreement and in accordance with the Reference Guide.