### Question
How does the law define unsubsidized project?


### Answer
Under *12 U.S.C. § 1701z*, **unsubsidized project** is defined as:

> a multifamily housing project owned by the Secretary that is not a subsidized project or a formerly subsidized project

#### Citation:
  - *12 U.S.C. § 1701z*
  - Heading: **CHAPTER 12-SAVINGS ASSOCIATIONS**

