§245.419. Initial submission of materials to HUD: Major capital additions.
24 C.F.R. § 245.419
In the case of major capital additions, the mortgagor must submit the following materials to the local HUD office:
The general plans and sketches of the proposed capital additions;
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;
A statement describing how the proposed capital additions will be financed and the effect, if any, of that financing on the tenants;
A statement assessing the compatibility of the proposed capital additions with the residential character of the project; and
A copy of the notice to tenants.
Notes, amendments, and revision history
Source
Source: 61 FR 57962, Nov. 8, 1996, unless otherwise noted.
Authority
Authority: 12 U.S.C. 1715z-1b; 42 U.S.C. 3535(d).