Cal. Code Regs. tit. 25 § 7673

Current through Register 2024 Notice Reg. No. 23, June 7, 2024

Section 7673 - Eligible Sponsor

(a) A sponsor shall be any individual, joint venture, partnership, limited partnership, trust, corporation, limited equity housing cooperative, local public entity, duly constituted governing body of an Indian reservation or rancheria, or other legal entity, or any combination thereof meets the requirements of subdivision (c).

(b) A sponsor may be organized on a for-profit, including limited profit, or nonprofit basis.

(c) In order to be eligible for funding, an applicant must be a sponsor who:

(1) demonstrates ability or experience relevant to owning, rehabilitating, and operating rental housing through any of the following:

(A) prior ownership, rehabilitation and operation of rental housing;

(B) staff with demonstrated ability or experience owning, rehabilitating and operating rental housing; or

(C) contracting with a consultant or consultants with demonstrated ability or experience assisting with the owning, rehabilitation and operation of rental housing; and

(2) has site control of the proposed project property by one of the following:

(A) fee title;

(B) a leasehold interest on the project property with provisions that enable the lessee to make improvements on and encumber the property provided that the terms and conditions of any proposed lease shall permit compliance with all program requirements;

(C) an option to purchase or lease;

(D) a disposition and development agreement with a public agency;

(E) a land sales contract, or other enforceable agreement for the acquisition of the property.

Cal. Code Regs. Tit. 25, § 7673

1. New section filed 6-12-89 as an emergency pursuant to Health and Safety Code section 50668.5(g); operative 6-12-89 (Register 89, No. 24). A Certificate of Compliance must be transmitted to OAL within 120 days or the regulation will be repealed on 10-10-89. For history of former subchapter 8 (sections 7700-7714.5, not consecutive), see Register 85, No. 33.
2. New section refiled 10-6-89 as an emergency pursuant to Health and Safety Code section 50668.5(g) and Government Code section 11346.1(h); operative 10-10-89 (Register 89, No. 42). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 2-7-90.
3. New section refiled 2-5-90 as an emergency pursuant to Health and Safety Code section 50668.5(g) and Government Code section 11346.1(h); operative 2-7-90 (Register 90, No. 6). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 6-7-90.
4. Amendment of subsections (a) and (c) filed 3-5-90 as an emergency pursuant to Health and Safety Code section 50668.5(g); operative 3-5-90 (Register 90, No. 12). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 7-3-90.
5. Certificate of Compliance as to 2-5-90 and 3-5-90 orders including amendment of subsections (a) and (c) transmitted to OAL 5-22-90 and filed 5-29-90 (Register 90, No. 29).

Note: Authority cited: Section 50668.5, Health and Safety Code. Reference: Sections 50668.5 and 50669, Health and Safety Code.

1. New section filed 6-12-89 as an emergency pursuant to Health and Safety Code section 50668.5(g); operative 6-12-89 (Register 89, No. 24). A Certificate of Compliance must be transmitted to OAL within 120 days or the regulation will be repealed on 10-10-89. For history of former subchapter 8 (sections 7700-7714.5, not consecutive), see Register 85, No. 33.
2. New section refiled 10-6-89 as an emergency pursuant to Health and Safety Code section 50668.5(g) and Government Code section 11346.1(h); operative 10-10-89 (Register 89, No. 42). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 2-7-90.
3. New section refiled 2-5-90 as an emergency pursuant to Health and Safety Code section 50668.5(g) and Government Code section 11346.1(h); operative 2-7-90 (Register 90, No. 6). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 6-7-90.
4. Amendment of subsections (a) and (c) filed 3-5-90 as an emergency pursuant to Health and Safety Code section 50668.5(g); operative 3-5-90 (Register 90, No. 12). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 7-3-90.
5. Certificate of Compliance as to 2-5-90 and 3-5-90 orders including amendment of subsections (a) and (c) transmitted to OAL 5-22-90 and filed 5-29-90 (Register 90, No. 29).