GroundRules
24 CFR 245.419: Initial submission of materials to HUD: Major capital additions.
Where this section sits in the code
- Title 24—Housing and Urban Development
- Subtitle B—Regulations Relating to Housing and Urban Development
- CHAPTER II—OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
- SUBCHAPTER B—MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES
- PART 245—TENANT PARTICIPATION IN MULTIFAMILY HOUSING PROJECTS
- Subpart E—Procedures for Requesting Approval of a Covered Action
In the case of major capital additions, the mortgagor must submit the following materials to the local HUD office:
(a) The general plans and sketches of the proposed capital additions;
(b) A statement describing the estimated effect of the proposed capital additions on the value of the project, the project income and expenses (including property taxes), and the project rent schedule;
(c) A statement describing how the proposed capital additions will be financed and the effect, if any, of that financing on the tenants;
(d) A statement assessing the compatibility of the proposed capital additions with the residential character of the project; and
(e) A copy of the notice to tenants.
Collected 2026-08-27T02:24:55Z. Source file · JSON