Conn. Agencies Regs. § 8-37y-5

Current through December 27, 2024

Section 8-37y-5 - Eligible developers

To be eligible for participation under this program:

(a) A housing authority shall, in addition to the requirements in subsection (d) below, submit a statement from the legal counsel of the housing authority that verifies that the housing authority is recognized and continues to be properly constituted by the municipality in accordance with Section 8-40 of the Connecticut General Statutes.

(b) A nonprofit corporation shall, in addition to the requirements in subsection (d) below:

(1) Submit documentation of tax exempt status, if applicable;

(2) Submit an endorsed certificate of incorporation, which includes the articles of incorporation that states housing as one of its purposes, certified by the Secretary of the State;

(3) Submit a certificate of good standing certified by the Secretary of the State; and

(4) Inform the Department, in writing, of the corporation's principal place of business.

(c) A Community Housing Development Corporation or Community Housing Development Organization shall, in addition to the requirements in subsection (d) below:

(1) Submit a statement, except for those corporations specially chartered by the general assembly and CHDO's, showing designation by the governing body of a municipality or by a joint resolution of the governing bodies of two or more municipalities to enter into contracts with the State as provided for in Section 8-218 of the Connecticut General Statutes;

(2) Submit documentation of tax exempt status, if applicable;

(3) Submit an endorsed certificate of incorporation, which includes the articles of incorporation, certified by the Secretary of the State;

(4) Submit a certificate of good standing certified by the Secretary of the State; and

(5) Inform the Department, in writing, of the corporation's principal place of business.

(d) All housing authorities, nonprofit corporations, community housing development corporations, or community housing development organizations, shall:

(1) Submit a list of any housing developments which they have developed, owned or managed;

(2) Submit a statement authorizing the Commissioner to apply for a credit report from any appropriate credit reporting agency covering the developer in determining the financial capability of the developer;

(3) Submit names, addresses and telephone numbers of its current commissioners, officers and/or members of the board of directors and statutory agent for service; and

(4) Be in good standing with the Department.

(e) A municipal developer shall submit a notarized copy of its legislative body's resolution designating its governing body as a municipal developer, as well as items (d)(1), (3) and (4) above.

Conn. Agencies Regs. § 8-37y-5

Effective November 26, 1993