24 Va. Admin. Code § 30-41-570

Current through Register Vol. 41, No. 6, November 4, 2024

Section 24VAC30-41-570 - Down payment benefit - 90-day tenants

A. A displaced tenant eligible for a rental replacement housing payment who elects to purchase a replacement dwelling in lieu of accepting such rental assistance payment may elect to apply the entire computed payment to the purchase of a replacement dwelling. This payment may be increased to any amount, not to exceed $7,200, for the purchase of a replacement dwelling and related incidental expenses.

B. VDOT has a responsibility to enable a displacee to relocate to housing of the same tenancy or ownership status as was occupied before displacement. Efforts will be made through advisory assistance and the down payment benefit to assist a tenant to move to ownership, but the achievement of ownership by tenants is not a program requirement.

Derived from Virginia Register Volume 18, Issue 3, eff. November 21, 2001; Amended, Virginia Register Volume 30, Issue 26, eff. 10/1/2014.

Statutory Authority: § 25.1-402 of the Code of Virginia; 42 USC § 4601 et seq.; 49 CFR Part 24.