[Code of Federal Regulations]
[Title 24, Volume 4]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR906.1]

[Page 360-361]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 
               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 906_PUBLIC HOUSING HOMEOWNERSHIP PROGRAMS--Table of Contents
 
                            Subpart A_General
 
Sec. 906.1  Purpose.




                            Subpart A_General

Sec.
906.1 Purpose.
906.2 Definitions.
906.3 Requirements applicable to homeownership programs previously 
          approved by HUD.

                  Subpart B_Basic Program Requirements

906.5 Dwelling units and types of assistance that a PHA may make 
          available under a homeownership program under this part.
906.7 Physical requirements that a property offered for sale under this 
          part must meet.
906.9 Title restrictions and encumbrances on properties sold under a 
          homeownership program.

                    Subpart C_Purchaser Requirements

906.11 Eligible purchasers.
906.13 Right of first refusal.
906.15 Requirements applicable to a family purchasing a property under a 
          homeownership program.
906.17 PHA handling of homeownership applications.
906.19 Requirements applicable to a purchase and resale entity (PRE).

                    Subpart D_Program Administration

906.23 Protections available to non-purchasing public housing residents.

[[Page 361]]

906.24 Protections available to non-purchasing residents of housing 
          other than public housing.
906.25 Ownership interests that may be conveyed to a purchaser.
906.27 Limitations applicable to net proceeds on the sale of a property 
          acquired through a homeownership program.
906.29 Below-Market sales and financing.
906.31 Requirements applicable to net proceeds resulting from sale.
906.33 Reporting and recordkeeping requirements.
906.35 Inapplicability of section 18 of the United States Housing Act of 
          1937.
906.37 Davis-Bacon and HUD wage rate requirements.

                Subpart E_Program Submission and Approval

906.38 Requirement of HUD approval to implement a homeownership program 
          under this part.
906.39 Contents of a homeownership program.
906.40 Supporting documentation.
906.41 Additional supporting documentation for acquisition of non-public 
          housing for homeownership.
906.43 Where a PHA is to submit a homeownership program for HUD 
          approval.
906.45 HUD criteria for reviewing a proposed homeownership program.
906.47 Environmental requirements.
906.49 HUD approval; implementing agreements.

    Authority: 42 U.S.C. 1437z-4 and 3535(d).

    Source: 68 FR 1172, Mar. 11, 2003, unless otherwise noted.



    (a) This part states the requirements and procedures governing 
public housing homeownership programs involving sales of individual 
dwelling units to families or to purchase and resale entities (PREs) for 
resale to families carried out by public housing agencies (PHAs), as 
authorized by section 32 of the United States Housing Act of 1937 (42 
U.S.C. 1437z-4) (1937 Act). A PHA may only transfer public housing units 
for homeownership under a homeownership program approved by HUD under 
this part, except as provided under Sec. 906.3. This section does not 
govern new construction or substantial rehabilitation of units sold 
under this part. Such construction or rehabilitation is governed by the 
public housing development and modernization regulations.
    (b) Under a public housing homeownership program, a PHA makes 
available for purchase by low-income families for use as their principal 
residences public housing dwelling units, public housing developments, 
and other housing units or developments owned, assisted, or operated, or 
otherwise acquired by the PHA for sale under a homeownership program in 
connection with the use of assistance provided under the 1937 Act (1937 
Act funds). A PHA may sell all or a portion of a property for purposes 
of homeownership in accordance with a HUD-approved homeownership 
program, and in accordance with the PHA's annual plan under part 903 of 
this title.