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HUD/OH | RIN: 2502-AH40 | Publication ID: Fall 2008 |
Title: Disposition of HUD-Owned, Single-Family Assets in Asset Control Areas (FR-4988) | |
Abstract: This rule would implement a program to make available HUD-held, single-family assets for sale to governmental organizations and nonprofits for use in homeownership programs to revitalize certain areas. Under the program, HUD would identify revitalization areas by applying specified economic and housing criteria. Eligible purchasers, that is, units of general local government and nonprofit organizations, may establish an Asset Control Area within a revitalization area and commit by contract to purchase, at a discount, all HUD-owned, single-family homes that become available in that area for a time frame specified by the contract. By statute, these purchasers are to be given preference. The entities would then improve and sell the assets pursuant to a HUD-approved plan to encourage homeownership and revitalize the area. | |
Agency: Department of Housing and Urban Development(HUD) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 24 CFR 291 | |
Legal Authority: 12 USC 1710(h) 42 USC 3535(d) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Vance Morris Operations Manager, Office of Healthcare Department of Housing and Urban Development Office of Housing 451 7th Street SW., Washington, DC 20410 Phone:202 402-2419 |