Regulation .01 General.
Regulation .01 General.LinkCopy Citation
A.
Each property owner who takes or intends to take a protected action shall send written notices of intent that comply with the requirements of §§7-201 and 7-202 of the Act and these regulations.
B.
The purpose of providing notices of intent is to:
(1)
Inform appropriate government agencies of the proposed action, and its possible impact on the tenants, and the local stock of affordable housing;
(2)
Provide the Department with information to determine if the proposed action is legally permissible;
(3)
Inform assisted households of the proposed actions and their rights in the event federal assistance is discontinued; and
(4)
If the project is to be sold, afford other parties the opportunity to exercise a right of first purchase in accordance with §§7-204—7-211 of the Act.