Source: http://www.law.cornell.edu/cfr/text/24/290.13
Timestamp: 2014-04-20 16:32:49
Document Index: 563670502

Matched Legal Cases: ['art 290', '§ 290', '§ 1701', '§ 1701', '§ 1713', '§ 1715', '§ 1715', '§ 1715']

24 CFR 290.13 - Negotiated sales. | LII / Legal Information Institute
CFR › Title 24 › Subtitle B › Chapter II › Subchapter I › Part 290 › Subpart A › Section 290.13 24 CFR 290.13 - Negotiated sales.
§ 290.13
HUD may negotiate the sale of any project to an agency of the federal, State, or local government.
When HUD determines that a purchaser can demonstrate the capacity to own and operate a project in accordance with standards set by HUD, and/or a competitive offering will not generate offers of equal merit from qualified purchasers, HUD may approve a negotiated sale of a subsidized project to:
A resident organization wishing to convert the project to a nonprofit or limited equity cooperative;
A cooperative (e.g., nonprofit limited equity, consumer cooperative, mutual housing organization) with demonstrated experience in the operation of nonprofit (and preferably low-income) housing;
A nonprofit entity that will continue to operate the project as low-income housing and whose governing board is composed of project residents;
A State or local governmental entity with the demonstrated capacity to acquire, manage, and maintain the project as housing available to and affordable by low-income residents;
A State or local governmental or nonprofit entity with the demonstrated capacity to acquire, manage, and maintain the project as a shelter for the homeless or other public purpose, generally when the project is vacant or has minimal occupancy and is not needed in the area for continued use as rental housing for the elderly or families; or
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.United States CodeU.S. Code: Title 12 - BANKS AND BANKING12 U.S. Code § 1701z–11 - Management and disposition of multifamily housing projects12 U.S. Code § 1701z–12 - Housing access§ 1713 - Rental housing insurance§ 1715b - Rules and regulations12 U.S. Code § 1715z–1b - Tenant participation in multifamily housing projects12 U.S. Code § 1715z–11a - Disposition of HUD-owned properties