---
kind: "section"
citation: "24 C.F.R. § 248.401"
title: "24"
number: "248.401"
heading: "Purposes."
url: "https://uscodex.org/cfr/24/248.401"
---

# §248.401. Purposes.


The purposes of this subpart are:

- (a) To promote the ability of residents of eligible low income housing to participate meaningfully in the preservation process established by this part and affect decisions about the future of their housing;
- (b) To promote the ability of community-based nonprofit organizations and resident councils to acquire, rehabilitate, and competently own and manage eligible housing as rental or cooperative housing for low and moderate income people; and
- (c) To assist the Commissioner in discharging the obligation under [§ 248.157(b)](/cfr/24/248.157.md?p=b) to notify potential qualified purchasers of the availability of projects for sale and to otherwise facilitate the coordination and oversight of the preservation program established under this part.

## Notes

### Source

Source: 58 FR 37817, July 13, 1993, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 17151 note, 4101 note, and 4101-4124; 42 U.S.C. 3535(d).