[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: 24CFR30.30]



[Page 308-309]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 30_CIVIL MONEY PENALTIES: CERTAIN PROHIBITED CONDUCT--Table of 

Contents

 

                          Subpart B_Violations

 

Sec.  30.30  Urban Homestead violations.



    (a) General. The Assistant Secretary for Community Planning and 

Development, or his or her designee, or the Director of the Office of 

Technical Assistance and Management may initiate a civil money penalty 

action against persons who knowingly and materially violate section 810 

of the Housing and Community Development Act of 1974, as amended (12 

U.S.C. 1706e), or the provisions of 24 CFR part 590, in the use or 

conveyance of property made available under the Urban Homestead Program.

    (b) Maximum penalty. The maximum penalty is either twice the amount 

of the gross profit realized from any impermissible use or conveyance of 

the property, or the amount of section 810



[[Page 309]]



funds used to reimburse HUD, the Department of Veterans Affairs, the 

Resolution Trust Corporation, or the Farmers Home Administration (or its 

successor agency under Public Law 103-354) for the property, whichever 

is greater. If the property is still held by the violator, the gross 

profit shall include any appreciation between the amount the violator 

paid for the property and its current value as determined by an 

independent, HUD-qualified appraiser.