24 CFR § 904.301 - Purpose.

---
identifier: "/us/cfr/t24/s904.301"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 904.301 - Purpose."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "904.301"
section_name: "Purpose."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
part_number: "904"
part_name: "LOW RENT HOUSING HOMEOWNERSHIP OPPORTUNITIES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "42 U.S.C. 1437-1437ee and 3535(d)."
regulatory_source: "39 FR 10966, Mar. 22, 1974, unless otherwise noted. Redesignated at 40 FR 15580, Apr. 7, 1975, and further redesignated at 49 FR 6714, Feb. 23, 1984."
cfr_part: "904"
---


# 904.301 Purpose.

(a) It is essential that the homebuyers have an organized vehicle for pursuing their common interests, for effectively representing the needs of residents in dealing with the LHA, and for undertaking eventual management responsibility for the development. Although this organization, called the homebuyers association (HBA), shall be representative of the homebuyers and independent of the LHA, it shall be the responsibility of the LHA and the training and counseling staff to assist the homebuyers in their initial efforts at organization.

(b) Except as noted in § 904.307, each Turnkey III development shall have an HBA. There shall be a separate HBA for each development or developments where there is a physical and financial community of interest.