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13.17 Determine the Borrower’s Initial Investment

HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021) · 2026 edition · updated 2026-10-05 · United States

A. For new construction and substantial rehabilitation projects under Sections 220 and 221(d)(4), use line 6 on form HUD-92580, minus the maximum insurable mortgage determined in line 10 of the form.

B. The amount determined by Section 13.17.A above may be increased by:

  1. Expended working capital funds not recognized in the cost certification review.

  2. Residential relocation expenses approved by HUD in excess of the amount established on Form HUD92264 Section G and Section O (Remarks and Conclusions).

C. Perform HUD-92466M, Regulatory Agreement, Mortgagor or any Affiliate or Principal shall not make, receive, or retain any distribution of assets or any income of any kind from the project, except from Surplus Cash. This limitation does not apply to interim income generated during construction, but project income as it relates to the surplus cash calculation.

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▸Contents — HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021)
HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021)

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