My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2011-175B
CBCC
>
Official Documents
>
2010's
>
2011
>
2011-175B
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
2/15/2016 9:45:45 AM
Creation date
10/1/2015 2:45:59 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Miscellaneous
Approved Date
08/16/2011
Control Number
2011-175B
Agenda Item Number
12.A.3
Entity Name
Department of Housing and Urban Development
Subject
Neighborhood Stabillzation Single Family Purchase
Redevelopment and Sales Program Manual
Alternate Name
NSP3
Supplemental fields
SmeadsoftID
10094
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
34
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
ISO did not comply with the NSP3 tenant protections and vacated the property <br /> contrary to Recovery Act requirements, developer must abandon the transaction <br /> or find an alternative source of funds . NSP3 funds cannot be used for such <br /> properties . <br /> D . Grantee Approval of Property Acquisitions or Contributions of <br /> Developer- Owned Properties <br /> Developer will follow these procedures in order to obtain Grantee ' s approval prior to <br /> acquiring properties for this program or contributing properties to this program . <br /> 1 . Transmit electronically a property information package to Grantee <br /> that includes the following ; <br /> a ) A detailed rehab work write - up and cost estimate , <br /> material specifications and cost estimate . Rehab estimates will include a <br /> 15 % contingency line item . <br /> b ) An appraisal indicating the as- is property value . <br /> C ) A complete copy of the draft Purchase Agreement with the <br /> NSP3 - required conditional purchase agreement addendum . See <br /> Appendix A for the approved language , which makes the offer conditional <br /> upon an approved environmental review and the contract price being at <br /> least 1 % less than market value as indicated by an appraisal to be <br /> obtained by Developer . If the agreement calls for Developer to pay for <br /> taxes or other liens or assessments in arrears, those amounts must be <br /> added to the contract price for purposes of calculating the discount from <br /> market value . <br /> d ) Evidence that the property is foreclosed , abandoned or <br /> vacant . <br /> E . Properties with Accessory Structures Requiring Demolition <br /> Written advance permission of Grantee must be obtained before offers may be made on <br /> properties on which accessory structures are blighted or beyond repair and therefore <br /> require demolition . Deteriorated accessory buildings that may require demolition must <br /> be included in the work write - up and cost . Upon Grantee approval of project work <br /> write- ups or plans and specifications , those accessory buildings may be demolished . <br /> F . Purchase Offers <br /> Developer will manage purchase offers as follows : <br /> 6 <br />
The URL can be used to link to this page
Your browser does not support the video tag.