### Question
What does subsidized project mean?


### Answer
**Subsidized project** has the following meaning in *12 U.S.C. § 1701z*:

> a multifamily housing project that, immediately prior to the assignment of the mortgage on such project to, or the acquisition of such mortgage by, the Secretary, was receiving any of the following types of assistance:


(A) Below market interest rate mortgage insurance under the proviso of section 221(d)(5) of the National Housing Act [12 U.S.C. 1715l(d)(5)]

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

