All projects and activities funded with HOME funds shall meet the general eligibility criteria in 24 CFR Part 92, which is incorporated by reference. The housing shall be: Of one of the following two types: Rental housing development, or Homeownership; Rented, occupied, or sold to income eligible households in accordance with these regulations; and Nonluxury, but with suitable amenities. Eligible activities are: Acquisition; Site improvements; New construction; Reconstruction; Rehabilitation; Relocation; Conversion; Demolition; Tenant-based rental assistance under the provisions of the Maryland HOME Initiatives Program Fund set forth in Regulation .05C of this chapter, including assistance with security deposits and utility deposit assistance, but only if utility deposit assistance is provided with tenant-based rental assistance or security deposit payment; Preconstruction costs under Regulation .09C and D of this chapter; Operating expenses of community housing development organizations (CHDOs); and Public housing projects, only to the extent permitted under 24 CFR §92.213. Ineligible activities are: Except as permitted in Regulation .07I(9) of this chapter, project accounts for: Reserve for replacements, Project reserves for anticipated increases in operating costs, and Operating subsidies; Tenant-based rental assistance for the purposes served by the existing §8 program or preventing displacement from projects assisted with rental rehabilitation grants; Matching requirements of any other federal program; Preservation of existing federally assisted projects; and Projects previously assisted by HOME funds (except for tenant-based rental assistance or assistance to first-time home buyers) during the period of affordability required under Regulation .15D of this chapter or the period specified in Regulation .17D(2) of this chapter, except within 1 year of completion if the total HOME funds in the project do not exceed the maximum allowable subsidy amount and except as permitted by 24 CFR §92.210 for troubled HOME assisted rental housing projects; Housing for students; Emergency shelters; Halfway houses; Dormitories (including farmworker dormitories); and Transaction costs of privately refinanced debt.