[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: 24CFR906.41]



[Page 364]

 

                 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.

    (b) Cost limit. The acquisition cost of each property is limited by 

the housing cost cap limit, as determined by HUD.