§ 36-55.33:2. Powers relative to acquisition, development and ownership byHDA of multi-family residential housing.
A. HDA shall have all the powers necessary or convenient to purchase,acquire, construct, rehabilitate, own, operate, improve, repair, maintain,encumber, mortgage, lease, sell and transfer or otherwise dispose ofmulti-family residential housing or any part or interest therein foroccupancy by persons and families of low and moderate income. For thepurposes of this section, HDA may form corporations, joint ventures,partnerships, trusts or other legal entities or any combination thereof, onits own behalf or in conjunction with individuals or other public or privateentities, to serve as housing sponsors for multi-family residential housingdevelopments; may acquire, own, encumber, pledge, sell, transfer or otherwisedispose of interests in such housing sponsors; may provide financing andother funding to such housing sponsors; and may exercise all necessary orconvenient rights and powers and perform all requisite duties and obligationsrelating thereto. HDA shall not exercise the powers granted under thissection with respect to any multi-family residential housing development,unless HDA makes the following findings:
1. That there exists a shortage of decent, safe and sanitary housing atrentals or prices which persons and families of low income or moderate incomecan afford within the general housing market area to be served by theproposed housing development.
2. That private enterprise and investment have been unable, withoutassistance, to provide the needed decent, safe and sanitary housing atrentals or prices which persons or families of low and moderate income canafford.
3. That private sponsors would not be willing, without assistance, toundertake the proposed housing development upon substantially similar termsand conditions.
4. That HDA has not received notification from both the local housingauthority having jurisdiction over the area in which the housing developmentwould be located and the sponsor of such development that it is thepreference of both parties that the local housing authority undertake theproposed housing development.
5. That the proposed housing development will provide well-planned,well-designed housing for persons or families of low and moderate income.
6. That the housing development will be of public use and will provide apublic benefit.
7. That the housing development will be undertaken within the authorityconferred by this chapter upon HDA.
B. HDA shall also find, in connection with the new construction orsubstantial rehabilitation by HDA of any proposed multi-family residentialhousing development, that the governing body of the locality in which suchhousing development is to be located has not, within sixty days after writtennotification of such proposed construction or substantial rehabilitation hasbeen sent by HDA to such governing body and to any local housing authorityhaving jurisdiction in such locality, certified to HDA in writing itsdisapproval of the proposed multi-family residential housing development. Theforegoing notwithstanding, no such finding need be made if HDA has receivedfrom the governing body its certified resolution approving the proposedhousing development.
C. At least sixty days prior to purchasing, acquiring, constructing orrehabilitating any multi-family residential housing development pursuant tothis section, HDA shall publish a notice in a newspaper of generalcirculation in the locality in which such development is to be located. Suchnotice (i) shall state that HDA intends to purchase, acquire, construct orrehabilitate a multi-family residential housing development or developmentsin such locality and shall solicit proposals from interested parties for suchpurchase, acquisition, construction or rehabilitation or (ii) shall identifythe multi-family residential housing development or developments to bepurchased, acquired, constructed or rehabilitated and shall request commentsfrom the general public with respect to such proposed purchase, acquisition,construction or rehabilitation.
D. In the event HDA or any legal entity formed by HDA is to construct orrehabilitate a multi-family residential housing development pursuant to thissection, HDA or such legal entity shall contract with a private firm for theperformance of such construction and rehabilitation, unless HDA determinesthat no responsible private firm would be willing and able to contract forsuch construction or rehabilitation at a price necessary for the financialfeasibility of such development. HDA or any legal entity formed by HDA shallcontract with a private firm or public body for the performance of managementservices for any multi-family residential housing development owned by HDA orsuch legal entity pursuant to this section, unless HDA determines that noresponsible private firm and no public body would be willing and able tocontract for the performance of such management services at a price necessaryfor the financial feasibility of such development. For the purpose of thissubsection, the term "private firm" shall include an individual, jointventure, partnership, stock corporation, trust or other similar businessentity legally authorized to perform the construction, rehabilitation ormanagement, as may be applicable, of the proposed multi-family residentialhousing development.
§ 36-55.33:2. Powers relative to acquisition, development and ownership byHDA of multi-family residential housing.
A. HDA shall have all the powers necessary or convenient to purchase,acquire, construct, rehabilitate, own, operate, improve, repair, maintain,encumber, mortgage, lease, sell and transfer or otherwise dispose ofmulti-family residential housing or any part or interest therein foroccupancy by persons and families of low and moderate income. For thepurposes of this section, HDA may form corporations, joint ventures,partnerships, trusts or other legal entities or any combination thereof, onits own behalf or in conjunction with individuals or other public or privateentities, to serve as housing sponsors for multi-family residential housingdevelopments; may acquire, own, encumber, pledge, sell, transfer or otherwisedispose of interests in such housing sponsors; may provide financing andother funding to such housing sponsors; and may exercise all necessary orconvenient rights and powers and perform all requisite duties and obligationsrelating thereto. HDA shall not exercise the powers granted under thissection with respect to any multi-family residential housing development,unless HDA makes the following findings:
1. That there exists a shortage of decent, safe and sanitary housing atrentals or prices which persons and families of low income or moderate incomecan afford within the general housing market area to be served by theproposed housing development.
2. That private enterprise and investment have been unable, withoutassistance, to provide the needed decent, safe and sanitary housing atrentals or prices which persons or families of low and moderate income canafford.
3. That private sponsors would not be willing, without assistance, toundertake the proposed housing development upon substantially similar termsand conditions.
4. That HDA has not received notification from both the local housingauthority having jurisdiction over the area in which the housing developmentwould be located and the sponsor of such development that it is thepreference of both parties that the local housing authority undertake theproposed housing development.
5. That the proposed housing development will provide well-planned,well-designed housing for persons or families of low and moderate income.
6. That the housing development will be of public use and will provide apublic benefit.
7. That the housing development will be undertaken within the authorityconferred by this chapter upon HDA.
B. HDA shall also find, in connection with the new construction orsubstantial rehabilitation by HDA of any proposed multi-family residentialhousing development, that the governing body of the locality in which suchhousing development is to be located has not, within sixty days after writtennotification of such proposed construction or substantial rehabilitation hasbeen sent by HDA to such governing body and to any local housing authorityhaving jurisdiction in such locality, certified to HDA in writing itsdisapproval of the proposed multi-family residential housing development. Theforegoing notwithstanding, no such finding need be made if HDA has receivedfrom the governing body its certified resolution approving the proposedhousing development.
C. At least sixty days prior to purchasing, acquiring, constructing orrehabilitating any multi-family residential housing development pursuant tothis section, HDA shall publish a notice in a newspaper of generalcirculation in the locality in which such development is to be located. Suchnotice (i) shall state that HDA intends to purchase, acquire, construct orrehabilitate a multi-family residential housing development or developmentsin such locality and shall solicit proposals from interested parties for suchpurchase, acquisition, construction or rehabilitation or (ii) shall identifythe multi-family residential housing development or developments to bepurchased, acquired, constructed or rehabilitated and shall request commentsfrom the general public with respect to such proposed purchase, acquisition,construction or rehabilitation.
D. In the event HDA or any legal entity formed by HDA is to construct orrehabilitate a multi-family residential housing development pursuant to thissection, HDA or such legal entity shall contract with a private firm for theperformance of such construction and rehabilitation, unless HDA determinesthat no responsible private firm would be willing and able to contract forsuch construction or rehabilitation at a price necessary for the financialfeasibility of such development. HDA or any legal entity formed by HDA shallcontract with a private firm or public body for the performance of managementservices for any multi-family residential housing development owned by HDA orsuch legal entity pursuant to this section, unless HDA determines that noresponsible private firm and no public body would be willing and able tocontract for the performance of such management services at a price necessaryfor the financial feasibility of such development. For the purpose of thissubsection, the term "private firm" shall include an individual, jointventure, partnership, stock corporation, trust or other similar businessentity legally authorized to perform the construction, rehabilitation ormanagement, as may be applicable, of the proposed multi-family residentialhousing development.
§ 36-55.33:2. Powers relative to acquisition, development and ownership byHDA of multi-family residential housing.
A. HDA shall have all the powers necessary or convenient to purchase,acquire, construct, rehabilitate, own, operate, improve, repair, maintain,encumber, mortgage, lease, sell and transfer or otherwise dispose ofmulti-family residential housing or any part or interest therein foroccupancy by persons and families of low and moderate income. For thepurposes of this section, HDA may form corporations, joint ventures,partnerships, trusts or other legal entities or any combination thereof, onits own behalf or in conjunction with individuals or other public or privateentities, to serve as housing sponsors for multi-family residential housingdevelopments; may acquire, own, encumber, pledge, sell, transfer or otherwisedispose of interests in such housing sponsors; may provide financing andother funding to such housing sponsors; and may exercise all necessary orconvenient rights and powers and perform all requisite duties and obligationsrelating thereto. HDA shall not exercise the powers granted under thissection with respect to any multi-family residential housing development,unless HDA makes the following findings:
1. That there exists a shortage of decent, safe and sanitary housing atrentals or prices which persons and families of low income or moderate incomecan afford within the general housing market area to be served by theproposed housing development.
2. That private enterprise and investment have been unable, withoutassistance, to provide the needed decent, safe and sanitary housing atrentals or prices which persons or families of low and moderate income canafford.
3. That private sponsors would not be willing, without assistance, toundertake the proposed housing development upon substantially similar termsand conditions.
4. That HDA has not received notification from both the local housingauthority having jurisdiction over the area in which the housing developmentwould be located and the sponsor of such development that it is thepreference of both parties that the local housing authority undertake theproposed housing development.
5. That the proposed housing development will provide well-planned,well-designed housing for persons or families of low and moderate income.
6. That the housing development will be of public use and will provide apublic benefit.
7. That the housing development will be undertaken within the authorityconferred by this chapter upon HDA.
B. HDA shall also find, in connection with the new construction orsubstantial rehabilitation by HDA of any proposed multi-family residentialhousing development, that the governing body of the locality in which suchhousing development is to be located has not, within sixty days after writtennotification of such proposed construction or substantial rehabilitation hasbeen sent by HDA to such governing body and to any local housing authorityhaving jurisdiction in such locality, certified to HDA in writing itsdisapproval of the proposed multi-family residential housing development. Theforegoing notwithstanding, no such finding need be made if HDA has receivedfrom the governing body its certified resolution approving the proposedhousing development.
C. At least sixty days prior to purchasing, acquiring, constructing orrehabilitating any multi-family residential housing development pursuant tothis section, HDA shall publish a notice in a newspaper of generalcirculation in the locality in which such development is to be located. Suchnotice (i) shall state that HDA intends to purchase, acquire, construct orrehabilitate a multi-family residential housing development or developmentsin such locality and shall solicit proposals from interested parties for suchpurchase, acquisition, construction or rehabilitation or (ii) shall identifythe multi-family residential housing development or developments to bepurchased, acquired, constructed or rehabilitated and shall request commentsfrom the general public with respect to such proposed purchase, acquisition,construction or rehabilitation.
D. In the event HDA or any legal entity formed by HDA is to construct orrehabilitate a multi-family residential housing development pursuant to thissection, HDA or such legal entity shall contract with a private firm for theperformance of such construction and rehabilitation, unless HDA determinesthat no responsible private firm would be willing and able to contract forsuch construction or rehabilitation at a price necessary for the financialfeasibility of such development. HDA or any legal entity formed by HDA shallcontract with a private firm or public body for the performance of managementservices for any multi-family residential housing development owned by HDA orsuch legal entity pursuant to this section, unless HDA determines that noresponsible private firm and no public body would be willing and able tocontract for the performance of such management services at a price necessaryfor the financial feasibility of such development. For the purpose of thissubsection, the term "private firm" shall include an individual, jointventure, partnership, stock corporation, trust or other similar businessentity legally authorized to perform the construction, rehabilitation ormanagement, as may be applicable, of the proposed multi-family residentialhousing development.
