200702329 - Laserfiche WebLink

Browse

200702329 (b) The maximum rent for each Section 8 unit is stated in the Housing Assistance Payments Contract and adjustments in such rents shall be madt: in accordance with the terms of the Housing Assistance Payments Contract. (c) Nothing contained herein shall be construed to relieve the Owners of any obligations under the Housing Assistance Payments Contract. 6. (a) If the mortgage is originally a Secretary-held purchase money mortgage, or is originally endorsed for insurance under any Section other than Section 231, Owners shall m)t in selecting tenants discriminate against any person or persons by reason of the fact that there are children in the family. In the event the mortgage is insured under Section 231, Owners will give preference or priority of opportunity to occupy its dwelling accommodations to elderly persons and handicapped persons as defined in the HOD Regulations. (b) If the mortgage is originally endorsed for insurance under Section 221, Owners shall in selecting tenants give to other-wise eligible displaced persons or families an absolute preference or priority of occupancy which shall be accomplished as follows: (I) For a period of sixty (60) days from the date of original offering, unless n shorter period of time is approved in writing by the Secretary, all units shall be held for such preferred applicnnts, atter which time any unrcnted unit may be rented to non-preterred applicants; and (2) Thereafter, and on a continuing basis, such preferred applicants shall be given preference over non-preferred applicants in their placement on a waiting list to be maintained by the Owners; and (3) Notwithstanding the provisions of paragraphs (1) and (2), for 30% of the Section 8 units, the Section 221 or Section 231 occupancy preference shall be accorded only to those individuals qualirying as very low income as specified in the Housing Assistance Payments Contract. (c) Without the prior written approval of the Secretary not more that 25% of the number of units in a project insured under Section 231 shall bc occupied by persons other than elderly persons. (d) All advertising or efforts to rent a project insured under Section 231 shall reflect a bona fide effort of the Owners to obtain occupancy by c1derly persons. 7. Nonprofit Owners agrt:c that no dividends of any nature whatsoever will be paid on the capital stock issued by the corporation. 8. Owners shall not without the prior written approval of the Secretary: (a) Convey, transfer, or encumber any of the mortgaged property, or permit the conveyance, transfer, or encumbrance of such property. (b) Assign, transter, dispose of, or encumber any personal property of the project, including rents, or payout any funds except from surplus cash, except lor reasonable operating expenses and necessary repairs.