§ 36-55.34:1. Power to supervise housing sponsors.
Subject to such limitations and conditions as may be agreed to by HDA, HDAshall have the power to supervise a housing sponsor and its real and personalproperty, at all times during which an HDA mortgage loan to such housingsponsor is outstanding and thereafter as necessary to preserve the federaltax exemption of the notes or bonds issued by HDA to finance such HDAmortgage loan, in the following respects:
1. Through its agents or employees, HDA may enter upon and inspect thehousing development or residential housing and any nonhousing buildings,including all parts thereof, financed by such HDA mortgage loan, for thepurpose of investigating the physical and financial condition thereof, andits construction, rehabilitation, operation, management and maintenance, andmay examine all books and records with respect to capitalization, income,expenditures and other matters relating thereto;
2. HDA may supervise the operation and maintenance of the housing developmentor residential housing and any nonhousing buildings financed by such HDAmortgage loan and may order such alterations, changes or repairs as HDA maydeem to be necessary to protect the security of its investment, the publicinterest, or the health, safety or welfare of the occupants of such housingdevelopment or residential housing and any nonhousing buildings;
3. HDA may order such housing sponsor, or the management agent or otherparties related to the housing development or residential housing and anynonhousing buildings financed by such HDA mortgage loan, to perform suchactions as may be necessary to comply with the provisions of all applicablelaws or ordinances, HDA's rules and regulations or the terms of any agreementconcerning such housing development or residential housing and any nonhousingbuildings, or to refrain from doing any acts in violation thereof; and inthis regard HDA shall be a proper party to file a complaint and to prosecutethereon for any violations of laws or ordinances as set forth herein;
4. HDA may prescribe uniform systems of accounts and records for housingsponsors and may require such housing sponsors to make reports, makecertifications as to expenditures and give answers to specific questions onsuch forms and at such times as HDA may deem to be necessary for the purposesof this chapter;
5. HDA may establish and alter from time to time a schedule of rents andcharges for the housing development or residential housing and any nonhousingbuildings financed by such HDA mortgage loan, and HDA may establish standardsfor, and may monitor and regulate, tenant or occupant selection by suchhousing sponsor;
6. HDA may require such housing sponsor to pay to HDA such fees and chargesas it may prescribe in connection with the examination, inspection,supervision, auditing or other regulation of the housing development orresidential housing and any nonhousing buildings financed by such HDAmortgage loan or of such housing sponsor;
7. In its rules and regulations HDA shall specify the categories of costwhich shall be allowable in the construction, rehabilitation, preservation orimprovement of a housing development or residential housing and anynonhousing buildings, and HDA shall require such housing sponsor to certifythe actual housing development costs upon completion of the housingdevelopment or residential housing and any nonhousing buildings, subject toaudit and determination by HDA, or shall require such housing sponsor toprovide such other assurances of such housing development costs as HDA shalldeem necessary to enable HDA to determine with reasonable accuracy the actualamount of such housing development costs; and
8. The provisions of any agreements which provide for the regulation andsupervision by HDA of any housing development or residential housing and anynonhousing buildings shall, when duly recorded among the land records of thejurisdiction or jurisdictions in which the housing development or residentialhousing and any nonhousing buildings are located, run with the land and bebinding on the successors and assigns of the owner thereof until released ofrecord by HDA.
(1975, c. 536; 1987, c. 164; 1991, c. 447; 2004, c. 187.)
§ 36-55.34:1. Power to supervise housing sponsors.
Subject to such limitations and conditions as may be agreed to by HDA, HDAshall have the power to supervise a housing sponsor and its real and personalproperty, at all times during which an HDA mortgage loan to such housingsponsor is outstanding and thereafter as necessary to preserve the federaltax exemption of the notes or bonds issued by HDA to finance such HDAmortgage loan, in the following respects:
1. Through its agents or employees, HDA may enter upon and inspect thehousing development or residential housing and any nonhousing buildings,including all parts thereof, financed by such HDA mortgage loan, for thepurpose of investigating the physical and financial condition thereof, andits construction, rehabilitation, operation, management and maintenance, andmay examine all books and records with respect to capitalization, income,expenditures and other matters relating thereto;
2. HDA may supervise the operation and maintenance of the housing developmentor residential housing and any nonhousing buildings financed by such HDAmortgage loan and may order such alterations, changes or repairs as HDA maydeem to be necessary to protect the security of its investment, the publicinterest, or the health, safety or welfare of the occupants of such housingdevelopment or residential housing and any nonhousing buildings;
3. HDA may order such housing sponsor, or the management agent or otherparties related to the housing development or residential housing and anynonhousing buildings financed by such HDA mortgage loan, to perform suchactions as may be necessary to comply with the provisions of all applicablelaws or ordinances, HDA's rules and regulations or the terms of any agreementconcerning such housing development or residential housing and any nonhousingbuildings, or to refrain from doing any acts in violation thereof; and inthis regard HDA shall be a proper party to file a complaint and to prosecutethereon for any violations of laws or ordinances as set forth herein;
4. HDA may prescribe uniform systems of accounts and records for housingsponsors and may require such housing sponsors to make reports, makecertifications as to expenditures and give answers to specific questions onsuch forms and at such times as HDA may deem to be necessary for the purposesof this chapter;
5. HDA may establish and alter from time to time a schedule of rents andcharges for the housing development or residential housing and any nonhousingbuildings financed by such HDA mortgage loan, and HDA may establish standardsfor, and may monitor and regulate, tenant or occupant selection by suchhousing sponsor;
6. HDA may require such housing sponsor to pay to HDA such fees and chargesas it may prescribe in connection with the examination, inspection,supervision, auditing or other regulation of the housing development orresidential housing and any nonhousing buildings financed by such HDAmortgage loan or of such housing sponsor;
7. In its rules and regulations HDA shall specify the categories of costwhich shall be allowable in the construction, rehabilitation, preservation orimprovement of a housing development or residential housing and anynonhousing buildings, and HDA shall require such housing sponsor to certifythe actual housing development costs upon completion of the housingdevelopment or residential housing and any nonhousing buildings, subject toaudit and determination by HDA, or shall require such housing sponsor toprovide such other assurances of such housing development costs as HDA shalldeem necessary to enable HDA to determine with reasonable accuracy the actualamount of such housing development costs; and
8. The provisions of any agreements which provide for the regulation andsupervision by HDA of any housing development or residential housing and anynonhousing buildings shall, when duly recorded among the land records of thejurisdiction or jurisdictions in which the housing development or residentialhousing and any nonhousing buildings are located, run with the land and bebinding on the successors and assigns of the owner thereof until released ofrecord by HDA.
(1975, c. 536; 1987, c. 164; 1991, c. 447; 2004, c. 187.)
§ 36-55.34:1. Power to supervise housing sponsors.
Subject to such limitations and conditions as may be agreed to by HDA, HDAshall have the power to supervise a housing sponsor and its real and personalproperty, at all times during which an HDA mortgage loan to such housingsponsor is outstanding and thereafter as necessary to preserve the federaltax exemption of the notes or bonds issued by HDA to finance such HDAmortgage loan, in the following respects:
1. Through its agents or employees, HDA may enter upon and inspect thehousing development or residential housing and any nonhousing buildings,including all parts thereof, financed by such HDA mortgage loan, for thepurpose of investigating the physical and financial condition thereof, andits construction, rehabilitation, operation, management and maintenance, andmay examine all books and records with respect to capitalization, income,expenditures and other matters relating thereto;
2. HDA may supervise the operation and maintenance of the housing developmentor residential housing and any nonhousing buildings financed by such HDAmortgage loan and may order such alterations, changes or repairs as HDA maydeem to be necessary to protect the security of its investment, the publicinterest, or the health, safety or welfare of the occupants of such housingdevelopment or residential housing and any nonhousing buildings;
3. HDA may order such housing sponsor, or the management agent or otherparties related to the housing development or residential housing and anynonhousing buildings financed by such HDA mortgage loan, to perform suchactions as may be necessary to comply with the provisions of all applicablelaws or ordinances, HDA's rules and regulations or the terms of any agreementconcerning such housing development or residential housing and any nonhousingbuildings, or to refrain from doing any acts in violation thereof; and inthis regard HDA shall be a proper party to file a complaint and to prosecutethereon for any violations of laws or ordinances as set forth herein;
4. HDA may prescribe uniform systems of accounts and records for housingsponsors and may require such housing sponsors to make reports, makecertifications as to expenditures and give answers to specific questions onsuch forms and at such times as HDA may deem to be necessary for the purposesof this chapter;
5. HDA may establish and alter from time to time a schedule of rents andcharges for the housing development or residential housing and any nonhousingbuildings financed by such HDA mortgage loan, and HDA may establish standardsfor, and may monitor and regulate, tenant or occupant selection by suchhousing sponsor;
6. HDA may require such housing sponsor to pay to HDA such fees and chargesas it may prescribe in connection with the examination, inspection,supervision, auditing or other regulation of the housing development orresidential housing and any nonhousing buildings financed by such HDAmortgage loan or of such housing sponsor;
7. In its rules and regulations HDA shall specify the categories of costwhich shall be allowable in the construction, rehabilitation, preservation orimprovement of a housing development or residential housing and anynonhousing buildings, and HDA shall require such housing sponsor to certifythe actual housing development costs upon completion of the housingdevelopment or residential housing and any nonhousing buildings, subject toaudit and determination by HDA, or shall require such housing sponsor toprovide such other assurances of such housing development costs as HDA shalldeem necessary to enable HDA to determine with reasonable accuracy the actualamount of such housing development costs; and
8. The provisions of any agreements which provide for the regulation andsupervision by HDA of any housing development or residential housing and anynonhousing buildings shall, when duly recorded among the land records of thejurisdiction or jurisdictions in which the housing development or residentialhousing and any nonhousing buildings are located, run with the land and bebinding on the successors and assigns of the owner thereof until released ofrecord by HDA.
(1975, c. 536; 1987, c. 164; 1991, c. 447; 2004, c. 187.)
