Sec. 404. SUBMISSION AND REVIEW

704 words·~3 min read·/statute-compilations/comps-10705/sec-404

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 404 SUBMISSION AND REVIEW **[**[12 U.S.C. 1715z–1a note](/us/usc/t12/s1715z–1a)**]** ###

(a)Form The Secretary shall establish the form and manner of submission of the comprehensive needs assessments under this title. ###

(b)Resident Review The Secretary shall require each owner of a covered multifamily housing property and each owner of a covered multifamily housing property for the elderly to make available to the residents of the property the comprehensive needs assessment that is to be submitted to the Secretary. The Secretary shall require each owner to provide for such residents to submit comments and opinions regarding the assessment to the owner before the submission of the assessment. ###

(c)State Housing Finance Agency Review To the extent that a covered multifamily housing property or a covered multifamily housing property for the elderly is financed or assisted by a State housing finance agency (as such term is defined in section 802 of the Housing and Community Development Act of 1974), the Secretary shall require the owner of the property to submit the comprehensive needs assessment for the property to the State housing finance agency upon submitting the assessment to the Secretary. ###

(d)Review ####

(1)In general The Secretary shall review each comprehensive needs assessment for completeness and adequacy before the expiration of the 90-day period beginning on the receipt of the assessment and shall notify the owner of the property for which the assessment was submitted of the findings of such review. ####

(2)Incomplete or inadequate assessments If the Secretary determines that the assessment is substantially incomplete or inadequate, the Secretary shall— #####

(A)notify the owner of the portion or portions of the assessment requiring completion or other revision; and #####

(B)require the owner to submit an amended assessment to the Secretary not later than 30 days after such notification. ###

(e)Cost of Preparation of Strategy The Secretary shall consider any costs relating to preparing a comprehensive needs assessment under this title for a covered multifamily housing property that do not exceed $5,000 for the property as an eligible project expense for the property. The Secretary shall provide that an owner may not increase the rental charge for any unit in a covered multifamily housing property to provide for the cost of preparing a comprehensive needs assessment. ###

(f)Publication of Method for Receiving Capital Needs Assessment The Secretary shall cause to be published in the Federal Register the method by which the Secretary determines which capital needs assessments will be received each year in accordance with section 402(b) and subsection

(d)of this section. ###

(g)Annual Review and Report of Funding and Targeting for Covered Multifamily Properties for the Elderly ####

(1)Review The Secretary shall annually conduct a comprehensive review of— #####

(A)the funding levels required to fully address the needs of covered multifamily housing properties for the elderly identified in the comprehensive needs assessments under section 403(b), specifically identifying any expenses necessary to make substantial repairs and add features (such as congregate dining facilities and commercial kitchens) resulting from development of a property in compliance with cost-containment requirements established by the Secretary; #####

(B)the adequacy of the geographic targeting of resources provided under programs of the Department with respect to covered multifamily housing properties for the elderly, based on information acquired pursuant to section 403(b); and #####

(C)local housing markets throughout the United States, with respect to the need, availability, and cost of housing for elderly persons and families, which shall include review of any information and plans relating to housing for elderly persons and families included in comprehensive housing affordability strategies submitted by jurisdictions pursuant to section 105 of the Cranston-Gonzalez National Affordable Housing Act. ####

(2)Report The Secretary of Housing and Urban Development shall submit a report to the Congress annually describing the results of the annual comprehensive needs assessments under section 402 for covered multifamily housing properties for the elderly and the annual review conducted under paragraph

(1)of this subsection, which shall contain a description of the methods used by project owners and by the Secretary to acquire the information described in section 402(b) and any findings and recommendations of the Secretary pursuant to the review.

Connections1 off-index

1 reference not yet in our index

12 USC 1715z–1a

Citation graph

cites case law

Sec. 404

SUBMISSION AND REVIEW

Cite12 USC 1715z–1a

Cites 1Cited by 0 across 0 sources