State Codes and Statutes
Statutes > Missouri > T12 > C215 > 215_037Rental project receiving loan or grant to charge required grossrental rate--gross rental rate to include utilities, occupantpaying utilities, rent to be reduced by utilityallowance--certification by owner, requirements.
215.037. 1. Any rental project or development receiving aloan or grant under sections 215.036 to 215.038 shall chargegross rental rates no greater than thirty percent of the maximumeligible household income for the assisted unit, for a period ofeighteen years following final disbursement, or for the length ofthe loan, whichever is greater, or for any longer period of timeimposed by the Missouri housing development commission. Grossrent includes the cost of any utilities other than telephone. Ifany utilities are paid directly by the occupant, the maximum rentthat may be paid by the occupant is to be reduced by a utilityallowance prescribed by the Missouri housing developmentcommission. The owner of units shall, as a condition ofreceiving assistance, cause to be incorporated into the propertytitle a legal covenant restating the provisions of thissubsection.
2. The owner of any assisted unit shall annually certify tothe Missouri housing development commission that each grant orloan recipient is charging rental rates in compliance withsections 215.036 to 215.038. The Missouri housing developmentcommission may prescribe annual owner compliance forms and isauthorized, in its discretion, to audit the records and accountsof the owner to verify the certification.
3. The owner of any assisted unit shall annually certify tothe Missouri housing development commission that all tenantsrenting units from a project or development receiving a loan orgrant under sections 215.036 to 215.038 are income eligiblepursuant to sections 215.036 to 215.038. The Missouri housingdevelopment commission may prescribe annual owner complianceforms and is authorized, in its discretion, to audit the recordsand accounts of the owner to verify the certification.
(L. 1994 H.B. 1745 § 215.036 subsecs. 5, 6, 7)
