### Question
Can you define what formerly subsidized project means?


### Answer
**Formerly subsidized project** is defined as the following in *12 U.S.C. § 1701z*:

> a multifamily housing project owned by the Secretary that was a subsidized project immediately prior to its acquisition by the Secretary

#### Citation:
  - *12 U.S.C. § 1701z*
  - Heading: **CHAPTER 13-NATIONAL HOUSING**

