§ 950.1020 - Content of homeownership plan.

The homeownership plan shall address the following matters, as applicable to the particular factual situation:

(a) Property description. A description of the property, including identification of the development and the specific dwellings to be sold.

(b) Repair or rehabilitation. If applicable, a plan for any repair or rehabilitation required under § 950.1006, based on the assessment of the physical condition of the property that is included in the supporting documentation.

(c) Purchaser eligibility and selection. The standards and procedures to be used for homeownership applications and the eligibility and selection of purchasers, consistent with the requirements of § 950.1008.

(d) Sale and financing. Terms and conditions of sale and financing (see particularly §§ 950.1011 through 950.1014).

(e) Future consultation with residents. A plan for consultation with residents during the implementation stage (See § 950.1005). If appropriate, this may be combined with the plan for counseling.

(f) Counseling. Counseling, training, and technical assistance to be provided in accordance with § 950.1009.

(g) Sale via other entity. If the plan contemplates sale to residents via an entity other than the IHA, a description of that entity's responsibilities and information demonstrating that the requirements of § 950.1007 have been met or will be met in a timely fashion.

(h) Nonpurchasing residents. If applicable, a plan for nonpurchasing residents, in accordance with § 950.1010.

(i) Sale proceeds. An estimate of the sale proceeds and an explanation of how they will be used, in accordance with § 950.1015.

(j) Replacement housing. A replacement housing plan, in accordance with § 950.1016.

(k) Administration. An administrative plan, including estimated staffing requirements.

(l) Recordkeeping, accounting and reporting. A description of the recordkeeping, accounting, and reporting procedures to be used, including those required by § 950.1017.

(m) Budget. A budget estimate, showing the costs of implementing the plan, and the sources of the funds that will be used.

(n) Timetable. An estimated timetable for the major steps required to carry out the plan.

(Approved by the Office of Management and Budget under control number 2577-0201)