[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: 24CFR906.41]

[Page 370-371]
 
                 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 E_Program Submission and Approval
 
Sec. 906.41  Additional supporting documentation for acquisition of 
non-public housing for homeownership.

    (a) Proposal contents. The PHA must submit an acquisition proposal 
to the HUD field office for review and approval before its homeownership 
plan containing acquisition of non-public housing can be approved. This 
proposal must contain the following:
    (1) Property description. A description of the properties, including 
the number of housing units, unit types, and number of bedrooms, and any 
non-dwelling facilities on the properties to be acquired;
    (2) Certification. If the housing units were constructed under a 
contract or an agreement that they be sold to the PHA, a certification 
that the developer/owner complied with all Davis-Bacon wage rate 
requirements under Sec. 906.37, including all required contractual 
provisions and compliance measures, and that the PHA received all 
applicable HUD environmental approvals and all applicable HUD releases 
of funds before executing the contract or agreement, in accordance with 
Sec. 906.47(d).
    (3) Site information. A description of the proposed general location 
of the properties to be acquired, or where specific properties have been 
identified, street addresses of the properties;
    (4) Property costs. The detailed budget of costs for acquiring the 
properties, including relocation and closing costs, and an 
identification of the sources of funding;
    (5) Appraisal. An appraisal of the proposed properties by an 
independent, state-certified appraiser (when the sites have been 
identified);
    (6) Property acquisition schedule. A copy of the PHA acquisition 
schedule;
    (7) Environmental information. (i) The environmental information 
required by Sec. 906.47(f), where HUD will perform the environmental 
review under 24 CFR part 50, or a statement identifying the responsible 
entity that has performed or will perform the review under 24 CFR part 
58. This paragraph (a)(7)(i) does not apply to a property where a 
contract or agreement for sale to the PHA has already been executed and 
HUD has already given prior approval of the property following 
environmental review under 24 CFR part 50.
    (ii) Where the PHA's homeownership program is submitted for approval 
to HUD and contemplates acquisition of properties not identified at the 
time of submission or approval, the procedures at Sec. 906.47(e) apply.
    (8) Market analysis. An analysis of the potential market of eligible 
purchasers for the homeownership units.
    (9) Additional HUD-requested information. Any additional information 
that may be needed for HUD to determine whether it can approve the 
proposal.

[[Page 371]]

    (b) Cost limit. The acquisition cost of each property is limited by 
the housing cost cap limit, as determined by HUD.