[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR14.205]



[Page 174-175]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 14_IMPLEMENTATION OF THE EQUAL ACCESS TO JUSTICE ACT IN 

ADMINISTRATIVE PROCEEDINGS--Table of Contents

 

             Subpart B_Information Required From Applicants

 

Sec.  14.205  Net worth exhibit.



    (a) Each applicant except a qualified tax-exempt organization or a 

qualified cooperative association must submit with its application a 

detailed exhibit showing the net worth of the applicant and any 

affiliates (as defined in Sec.  14.120(f) of this part) when the 

proceeding was initiated. The exhibit may be in any form convenient to 

the applicant that provides full disclosure of the applicant's and its 

affiliates' assets and liabilities, and is sufficient to determine 

whether the applicant qualifies under the standards of the Act and this 

part. The adjudicative officer may require an applicant to file 

additional information to determine its eligibility for an award.

    (b) The net worth exhibit shall describe any transfers of assets 

from, or obligations incurred by, the applicant



[[Page 175]]



or any affiliate, occurring in the one-year period before the date on 

which the proceeding was initiated, that reduced the net worth of the 

applicant and its affiliates below the applicable net worth ceiling. If 

there were no such transactions, the applicant shall so state.

    (c) Ordinarily, the net worth exhibit will be included in the public 

record of the proceeding. However, an applicant that objects to public 

disclosure of information in any portion of the exhibit and believes 

there are legal grounds for withholding it from disclosure may submit 

that portion of the exhibit directly to the adjudicative officer in a 

sealed envelope labeled ``Confidential Financial Information,'' 

accompanied by a motion to withhold the information from public 

disclosure. The motion shall describe the information sought to be 

withheld and explain, in detail, why it falls within one or more of the 

specific exemptions from mandatory disclosure under the Freedom of 

Information Act (5 U.S.C. 552(b) (1)-(9)), why public disclosure of the 

information would adversely affect the applicant, and why disclosure is 

not required in the public interest. The material in question shall be 

served on counsel representing the agency against which the applicant 

seeks an award, but need not be served on any other party to the 

proceeding. If the adjudicative officer finds that the information 

should not be withheld from disclosure, it shall be placed in the public 

record of the proceeding. Otherwise, any request to inspect or copy the 

exhibit shall be disposed of in accordance with the Department's 

established procedures under the Freedom of Information Act, 24 CFR part 

15. In either case, disclosure shall be subject to the provisions of the 

Privacy Act of 1974, 5 U.S.C. 552a, and the Department's procedures 

implementing the Privacy Act of 1974 at 24 CFR part 16.



(Approved by the Office of Management and Budget under control number 

2510-0001)