[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

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

[CITE: 24CFR904.304]



[Page 340-341]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 904_LOW RENT HOUSING HOMEOWNERSHIP OPPORTUNITIES--Table of Contents

 

                 Subpart D_Homebuyers Association (HBA)

 

Sec.  904.304  Functions of the HBA.



    (a) Subject to possible variations agreed to by the HBA and approved 

by HUD, the functions of the HBA shall include the following:

    (1) Representing its members, individually and collectively, with 

respect to any deficiencies in the development or in the homes and with 

respect to fulfillment of the construction contract and related 

warranties;

    (2) Representing its members, individually and collectively, in 

their relationships with the LHA and others in regard to financial 

matters such as monthly payments, credits to and charges against 

reserves, settlement upon vacating the home, acquisition of ownership, 

and other matters pertaining to operation and management of the 

development;

    (3) Recommending policies and rules to the LHA for operation and 

management including rules concerning use of



[[Page 341]]



the common areas and community facilities;

    (4) Participating in the operation of official grievance mechanisms;

    (5) Advising and assisting its members regarding procedures and 

practices relative to the Earned Home Payments Account and the 

acquisition of homeownership;

    (6) Participating with the LHA in periodic maintenance inspections 

of homes after occupancy, and making recommendations in case of 

disagreements arising out of maintenance inspections;

    (7) Participating with the LHA in the selection of subsequent 

homebuyers;

    (8) Coordinating, supervising, or managing the operation of credit 

union, child care, or other supportive services established for the 

development;

    (9) Participating with the LHA in the establishment and 

implementation of policies related to collection of monthly payments, 

termination of occupancy, and resolution of hardship situations; and

    (10) Performing management services as specified under contract with 

the Authority or with the Homeowners Association and participating in 

other activities pursuant to agreement with the LHA or with the 

Homeowners Association.

    (b) In addition, the HBA may offer such special services as the 

following:

    (1) The development of self-help such as consumer clubs, furniture 

and other co-ops, credit unions, transportation pools, and skill pools;

    (2) Assisting homebuyers in acquiring group insurance;

    (3) Developing programs and contracting for services such as child 

care centers to be located in the community facility where such a 

facility exists;

    (4) Assisting homebuyers in their employment, especially by 

participating in skill development and apprenticeship programs in 

cooperation with local educational organizations;

    (5) Assisting homebuyers in planning the management role of the HBA 

and in negotiating any contract for management services with the LHA.