§ 401.101 Which owners are ineligible to request Restructuring Plans?
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Title 24—Housing and Urban Development > Subtitle B—Regulations Relating to Housing and Urban Development > CHAPTER IV—OFFICE OF HOUSING AND OFFICE OF MULTIFAMILY HOUSING ASSISTANCE RESTRUCTURING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT > PART 401—MULTIFAMILY HOUSING MORTGAGE AND HOUSING ASSISTANCE RESTRUCTURING PROGRAM (MARK-TO-MARKET) > Subpart A—General Provisions; Eligibility
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(a) Mandatory rejection. The request of an owner of an eligible project will not be considered for a Restructuring Plan if the owner is debarred or suspended under 2 CFR part 2424.
(b) Discretion to reject. HUD may also decide not to accept a request for a Restructuring Plan if:
(1) An affiliate is debarred or suspended under 2 CFR part 2424; or
(2) HUD notifies the owner that HUD is engaged in a pending suspension, debarment or other enforcement action against an owner or affiliate, and the grounds for the pending action are included in § 401.403(b)(2)(ii).
(c) Exception for sale. This section does not apply if a sale or transfer of the property is proposed in accordance with § 401.480.
(d) Notice to tenants. The PAE or HUD will give notice to tenants of a rejection in accordance with §§ 401.500(f)(2), 401.501, and 401.502.
[65 FR 15485, Mar. 22, 2000, as amended at 72 FR 66038, Nov. 26, 2007; 72 FR 73496, Dec. 27, 2007]
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