1、266 24 CFR Ch. IX (4111 Edition) 903.23 903.23 What is the process by which HUD reviews, approves, or dis-approves an Annual Plan? (a) Review of the plan. When the PHA submits its Annual Plan to HUD, in-cluding any significant amendment or modification to the plan, HUD reviews the plan to determine
2、whether: (1) The plan provides all the informa-tion that is required to be included in the plan; (2) The plan is consistent with the in-formation and data available to HUD; (3) The plan is consistent with any applicable Consolidated Plan for the jurisdiction in which the PHA is lo-cated; and (4) The
3、 plan is not prohibited or in-consistent with the 1937 Act or any other applicable Federal law. (b) Scope of HUD review. HUDs review of the Annual Plan (and any significant amendments or modifications to the plan) will be limited to the information required by 903.7(b), (g), (h), and (o), and any ot
4、her element of the PHAs Annual Plan that is challenged. (c) Disapproval of the plan. (1) HUD may disapprove a PHA plan, in its en-tirety or with respect to any part, or disapprove any significant amendment or modification to the plan, only if HUD determines that the plan, or one of its components or
5、 elements, or any significant amendment or modification to the plan: (i) Does not provide all the informa-tion that is required to be included in the plan; (ii) Is not consistent with the infor-mation and data available to HUD; (iii) Is not consistent with any appli-cable Consolidated Plan for the j
6、uris-diction in which the PHA is located; or (iv) Is not consistent with applicable Federal laws and regulations. (2) Not later than 75 days after the date on which the PHA submits its plan or significant amendment or modification to the plan, HUD will issue written notice to the PHA if the plan or
7、a significant amendment or modification has been disapproved. The notice that HUD issues to the PHA must state with specificity the reasons for the disapproval. HUD may not state as a reason for disapproval the lack of time to review the plan. (3) If HUD fails to issue the notice of disapproval on o
8、r before the 75th day after the date on which the PHA sub-mits its plan or significant amendment or modification to the plan, HUD shall be considered to have determined that all elements or components of the plan required to be submitted and that were submitted, and to be reviewed by HUD were in com
9、pliance with applicable re-quirements and the plan has been ap-proved. (4) The provisions of paragraph (b)(3) of this section do not apply to troubled PHAs. The plan of a troubled PHA must be approved or disapproved by HUD through written notice. (d) Designation of due date as submis-sion date for f
10、irst plan submissions. For purposes of the 75-day period described in paragraph (b) of this section, the first 5-year and Annual Plans sub-mitted by a PHA will be considered to have been submitted no earlier than the due date as provided in 903.5. (e) Public availability of the approved plan. Once a
11、 PHAs plan has been ap-proved, a PHA must make the approved plan and the required attachments and documents related to the plan, avail-able for review and inspection, at the principal office of the PHA during nor-mal business hours. 65 FR 81222, Dec. 22, 2000, as amended at 68 FR 37671, June 24, 200
12、3 903.25 How does HUD ensure PHA compliance with its plan? A PHA must comply with the rules, standards and policies established in the plans. To ensure that a PHA is in compliance with all policies, rules, and standards adopted in the plan approved by HUD, HUD shall, as it deems appro-priate, respon
13、d to any complaint con-cerning PHA noncompliance with its plan. If HUD should determine that a PHA is not in compliance with its plan, HUD will take whatever action it deems necessary and appropriate. PART 904LOW RENT HOUSING HOMEOWNERSHIP OPPORTUNITIES Subpart AIntroduction to Low-Rent Hous-ing Hom
14、eownership Opportunity Pro-gram Reserved VerDate Mar2010 10:07 May 20, 2011 Jkt 223080 PO 00000 Frm 00276 Fmt 8010 Sfmt 8006 Y:SGML223080.XXX 223080erowe on DSK5CLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from IHS-,-,-267 Asst. Secry., for
15、Public and Indian Housing, HUD 904.101 Subpart BTurnkey III Program Description Sec. 904.101 Introduction. 904.102 Definitions. 904.103 Development. 904.104 Eligibility and selection of home-buyers. 904.105 Counseling of homebuyers. 904.106 Homebuyers Association (HBA). 904.107 Responsibilities of h
16、omebuyer. 904.108 Break-even amount. 904.109 Monthly operating expense. 904.110 Earned Home Payments Account. (EHPA) 904.111 Nonroutine Maintenance Reserve (NRMR). 904.112 Operating reserve. 904.113 Achievement of ownership by initial homebuyer. 904.114 Payment upon resale at profit. 904.115 Achieve
17、ment of ownership by subse-quent homebuyers. 904.116 Transfer of title to homebuyer. 904.117 Responsibilities of homebuyer after acquisition of ownership. 904.118 Homeowners association-planned unit development (PUD). 904.119 Homeowners association-condo-minium. 904.120 Relationship of homeowners as
18、socia-tion to HBA. 904.121 Use of appendices. 904.122 Statutory preferences. APPENDIX I TO SUBPART BANNUAL CON-TRIBUTIONS CONTRACT APPENDIX II TO SUBPART BHOMEBUYERS OWNERSHIP OPPORTUNITY AGREEMENT (TURNKEY III) APPENDIX III TO SUBPART BCERTIFICATION OF HOMEBUYER STATUS APPENDIX IV TO SUBPART BPROMI
19、SSORY NOTE FOR PAYMENT UPON RESALE BY HOMEBUYER AT PROFIT Subpart CHomeownership Counseling and Training 904.201 Purpose. 904.202 Objectives. 904.203 Planning. 904.204 General requirements and informa-tion. 904.205 Training methodology. 904.206 Funding. 904.207 Use of appendix. APPENDIX I TO SUBPART
20、 CCONTENT GUIDE FOR COUNSELING AND TRAINING PROGRAM Subpart DHomebuyers Association (HBA) 904.301 Purpose. 904.302 Membership. 904.303 Organizing the HBA. 904.304 Functions of the HBA. 904.305 Funding of HBA. 904.306 Performing management services. 904.307 Alternative to HBA. 904.308 Relationship wi
21、th homeowners asso-ciation. 904.309 Use of appendices. APPENDIX I TO SUBPART DARTICLES OF IN-CORPORATION AND BY-LAWS OF HOME-BUYERS ASSOCIATION APPENDIX II TO SUBPART DRECOGNITION AGREEMENT BETWEEN LOCAL HOUSING AU-THORITY AND HOMEBUYERS ASSOCIATION AUTHORITY: 42 U.S.C. 14371437ee and 3535(d). SOURC
22、E: 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. Subpart AIntroduction to Low- Rent Housing Homeownership Opportunity Program Re-served Subpart BTurnkey III Program Description 904.101 Introductio
23、n. (a) Purpose. This subpart sets forth the essential elements of the HUD Homeownership Opportunities Program for Low-Income Families (Turnkey III). (b) Applicability. This subpart is ap-plicable to Turnkey III developments operated by LHA. For Turnkey III de-velopments operated by an Indian Housing
24、 Authority, applicable provi-sions are found at 24 CFR part 905, sub-part G. (1) With respect to any development to be operated as Turnkey III, the An-nual Contributions Contract (ACC) shall contain the Special Provisions for Turnkey III Homeownership Oppor-tunity Project as set forth in Appen-dix I
25、. A Turnkey III development may include only units which are to be op-erated as such under Homebuyers Own-ership Opportunity Agreements. If for any reason it is determined that cer-tain units should be operated as con-ventional rental units, such units must comprise or be made part of a conven-tiona
26、l rental project. (2) With respect to Turnkey III devel-opments pursuant to an executed ACC where no Agreements with Homebuyers have been signed, the ACC shall be amended (i) to include the Special Provisions set forth in Appendix I, (ii) VerDate Mar2010 10:07 May 20, 2011 Jkt 223080 PO 00000 Frm 00
27、277 Fmt 8010 Sfmt 8010 Y:SGML223080.XXX 223080erowe on DSK5CLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from IHS-,-,-268 24 CFR Ch. IX (4111 Edition) 904.102 to extend its term to 30 years, and (iii) to reduce its Maximum Contribution Percen
28、tage to a rate that will amortize the debt in 30 years at the minimum Loan Interest Rate specified in the ACC for the specific Turnkey III project involved. Further development and operation shall be in accordance with this subpart including use of the form of Homebuyers Ownership Oppor-tunity Agree
29、ment set forth in Appen-dix II. (3) With respect to developments where Agreements with homebuyers have been signed, the following steps shall be taken: (i) The ACC shall be amended to in-clude the Special Provisions set forth in Appendix I; further development and operation of the Project shall be i
30、n ac-cordance with this subpart. (ii) The LHA shall offer all qualified homebuyers in the development a new Homebuyers Ownership Opportunity Agreement as set forth in Appendix II with an amendment to section 16a to refer to the latest approved Develop-ment Cost Budget, or Actual Develop-ment Cost Ce
31、rtificate if issued, in lieu of the Development Cost Budget in ef-fect upon award of the Main Construc-tion Contract or execution of the Con-tract of Sale, and, if the ACC for the Project has a term of 25 years, an amendment to section 16(b) to refer to a term of 25 years, instead of 30, for the Pur
32、chase Price Schedule. Each Pur-chase Price Schedule shall commence with the first day of the month fol-lowing the effective date of the initial Agreement. No other modification in the new Agreement may be made. In the event the homebuyer refuses to ac-cept the new Agreement, no modifica-tions may be
33、 made in the old Agree-ment and the matter shall be referred to HUD. (4) With respect to Projects which were under ACC on the effective date of this subpart, the Total Development Cost Budget shall be revised, if finan-cially feasible, to include the cost of the appraisals which are necessary for co
34、mputation of the initial purchase prices pursuant to 904.113. In the event this is not financially feasible, the matter shall be referred to HUD, which may, if necessary, authorize a different method for computation of such initial purchase prices on an equitable basis. (5) With respect to all devel
35、opments which were completed by the effective date of this subpart, the appraisals which are necessary for computation of the initial purchase prices pursuant to 904.113 shall be made as of the date of completion of the development. 39 FR 10966, Mar. 22, 1974. Redesignated at 40 FR 15580, Apr. 7, 19
36、75, and 49 FR 6714, Feb. 23, 1984, and amended at 56 FR 922, Jan. 9, 1991 904.102 Definitions. (a) The term common property means the nondwelling structures and equip-ment, common areas, community fa-cilities, and in some cases certain com-ponent parts of dwelling structures, which are contained in
37、the develop-ment: Provided, however, That in the case of a development that is organized as a condominium or a planned unit de-velopment (PUD), the term common property shall have the meaning estab-lished by the condominium or PUD documents and the State law pursuant to which the condominium or PUD
38、is organized, under the terms common areas, common facilities, common ele-ments, common estate, or other similar terms. (b) The term development means the entire undertaking including all real and personal property, funds and re-serves, rights, interests and obliga-tions, and activities related ther
39、eto. (c) The term EHPA means the Earned Home Payments Account established and maintained pursuant to 904.110. (d) The term homebuyer means the member or members of a low-income family who have executed a Home-buyers Ownership Opportunity Agree-ment with the LHA. (e) The term homebuyers association (
40、HBA) means an organization as de-fined in 904.106. (f) The term homeowner means a homebuyer who has acquired title to his home. (g) The term homeowners association means an association comprised of homeowners, including condominium associations, having responsibilities with respect to common propert
41、y. (h) The term LHA means the local housing authority which acquires or VerDate Mar2010 10:07 May 20, 2011 Jkt 223080 PO 00000 Frm 00278 Fmt 8010 Sfmt 8010 Y:SGML223080.XXX 223080erowe on DSK5CLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from
42、 IHS-,-,-269 Asst. Secry., for Public and Indian Housing, HUD 904.104 develops a low-rent housing develop-ment with financial assistance from HUD, owns the homes until title is transferred to the homebuyers, and is responsible for the management of the homeownership opportunity program. (i) The term
43、 NRMR means the Non-routine Maintenance Reserve estab-lished and maintained pursuant to 904.111. (j) The term Project is used to refer to the development in relation to matters specifically related to the Annual Con-tributions Contract. 39 FR 10966, Mar. 22, 1974, as amended at 61 FR 5214, Feb. 9, 1
44、996 904.103 Development. (a) Financial framework. The LHA shall finance development or acquisi-tion by sale of its notes (bond financing shall not be used) in the amount of the Minimum Development Cost. Payment of the debt service on the notes is as-sured by the HUD commitment to pro-vide annual con
45、tributions. (b) Maximum total development cost. The maximum total development cost stated in the ACC is the maximum amount authorized for development of a project and shall not exceed the amount approved in accordance with 941.406(a) of this chapter. (c) Contractual framework. There are three basic
46、contracts: (1) An Annual Contributions Con-tract containing Special Provisions For Turnkey III Homeownership Op-portunity Project, Form HUD53010C (see Appendix I); (2) A Homebuyers Ownership Oppor-tunity Agreement (see Appendix II) which sets forth the respective rights and obligations of the low-in
47、come oc-cupants and the LHA, including condi-tions for achieving homeownership; and (3) A Recognition Agreement (see Ap-pendix II of Subpart D of this part) be-tween the LHA and the HBA under which the LHA agrees to recognize the HBA as the established representative of the homebuyers. (d) Community
48、 Participation Committee (CPC). In the necessary development of citizens participation in and under-standing of the Turnkey III program, the LHA should consider formation and use of a CPC to assist the community and the LHA in the development and support of the Turnkey III program. The CPC shall be
49、a voluntary group comprised of representatives of the low-income population primarily and may also include representatives of community service organizations. 39 FR 10966, Mar. 22, 1974. Redesignated at 40 FR 15580, Apr. 7, 1975, and amended at 47 FR 39482, Sept. 8, 1982. Redesignated at 49 FR 6714, Feb. 23, 1984, and amended at 53 FR 41598, Oct. 24, 1988 904.104 Eligibility and selection of homebuyers. (a) Announceme
