§ 248.401. Purposes.
112 words·~1 min read·
/us/cfr/t24/s§ 248.401·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The purposes of this subpart are:
(a)To promote the ability of residents of eligible low income housing to participate meaningfully in the preservation process established by this part and affect decisions about the future of their housing;
(b)To promote the ability of community-based nonprofit organizations and resident councils to acquire, rehabilitate, and competently own and manage eligible housing as rental or cooperative housing for low and moderate income people; and
(c)To assist the Commissioner in discharging the obligation under § 248.157(b) to notify potential qualified purchasers of the availability of projects for sale and to otherwise facilitate the coordination and oversight of the preservation program established under this part.