Title 24, Part 248 — Prepayment of Low Income Housing Mortgages

Purpose.

Applicability.

Election to proceed under subpart B or subpart C of this part.

Definitions.

General prepayment limitation.

Notice of intent.

Appraisal and preservation value of eligible low income housing.

Annual authorized return and aggregate preservation rents.

Determination of Federal cost limit.

Limitations on action pursuant to Federal cost limit.

Information from the Commissioner.

Second notice of intent.

Plans of action.

Criteria for approval of a plan of action involving prepayment and voluntary termination.

Criteria for approval of a plan of action involving incentives.

Housing standards.

Timetable for approval of a plan of action.

Incentives to extend low income use.

Voluntary sale of housing not in excess of Federal cost limit.

Mandatory sale of housing in excess of the Federal cost limit.

Assistance for displaced tenants.

Permissible prepayment or voluntary termination and modification of commitments.

Resident homeownership program.

Resident homeownership program—limited equity cooperative.

Delegated responsibility to State agencies.

Consultation with other interested parties.

Notice to tenants.

Preemption of State and local laws.

Definitions.

General prepayment limitation.

Notice of intent to prepay.

Plan of action.

Notification of deficiencies.

Revisions to plan of action.

Tenant notice and opportunity to comment.

Notification of approval.

Approval of a plan of action that involves termination of low income affordability restrictions.

Alternative State strategy.

Incentives to extend low income use.

Approval of a plan of action that includes incentives.

Section 8 rental assistance.

Modification of existing regulatory agreements.

Consultation with other interested parties.

Agreements implementing plans of action and State strategies.

General.

Initial application.

Approval of a State agency's initial application.

Applicability of subpart B of this part.

Authority to process and approve notices of intent and plans of action.

Notice of intent.

Preservation agreements.

Application for assistance.

Purposes.

Grants for building resident capacity and funding predevelopment costs.

Grants for other purposes.

Delivery of assistance through intermediaries.

Definitions.