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HUD/OH | RIN: 2502-AI24 | Publication ID: Spring 2009 |
Title: Disposition of HUD-Owned Multifamily Projects; Purchaser's Compliance With State and Local Housing Laws and Requirements (FR-4941) | |
Abstract: This rule revises HUDs regulations governing the disposition of multifamily projects that are HUD-owned or secured by a HUD-held mortgage that is being foreclosed to implement statutory amendments made by the Consolidated Appropriations Act, 2004. The rule would require a potential purchaser of such a project to certify that all other projects owned by the purchaser, and located in the same city or town as the project being purchased, are in substantial compliance with applicable State or local government housing statutes, regulations, ordinances, and codes. A purchaser of a multifamily project from a State or local government that previously had acquired the property from HUD would also be required to submit evidence of substantial compliance with applicable State or local housing requirements. The rule would also expand the scope of the participation and compliance requirements for HUDs Federal Housing Administration programs to include purchasers of multifamily housing projects from State or local governments, where the property had been previously been acquired by the State or local government from HUD. The rule follows publication of an August 5, 2005, proposed rule and takes into consideration the public comments on the proposed rule. | |
Agency: Department of Housing and Urban Development(HUD) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Long-Term Actions |
Major: No | Unfunded Mandates: No |
CFR Citation: 24 CFR 200 24 CFR 290 | |
Legal Authority: 12 USC 1701 to 1715z-21 42 USC 3535(d) 42 USC 3535(i) |
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: Janet Golrick Associate Deputy Assistant Secretary for Multifamily Housing Department of Housing and Urban Development Office of Housing 451 7th Street SW., Washington, DC 20410 Phone:202 402-3998 |