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Current as of January 02, 2025 | Updated by Findlaw Staff
In the case of major capital additions, the mortgagor must submit the following materials to the local HUD office:
(a) The general plans and sketches of the proposed capital additions;
(b) A statement describing the estimated effect of the proposed capital additions on the value of the project, the project income and expenses (including property taxes), and the project rent schedule;
(c) A statement describing how the proposed capital additions will be financed and the effect, if any, of that financing on the tenants;
(d) A statement assessing the compatibility of the proposed capital additions with the residential character of the project; and
(e) A copy of the notice to tenants.
(Approved by the Office of Management and Budget under control number 2502–0310)
Cite this article: FindLaw.com - Code of Federal Regulations Title 24. Housing and Urban Development § 24.245.419 Initial submission of materials to HUD: Major capital additions - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-24-housing-and-urban-development/cfr-sect-24-245-419/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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