Cal. Code Regs. tit. 25 § 8078

Current through Register 2024 Notice Reg. No. 50, December 13, 2024

Section 8078 - 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 which is certified by the department as meeting the requirements of subdivision (c).

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

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

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

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

(B) employment of a staff with demonstrated ability or experience owning, developing, constructing and operating rental housing; or

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

(2) have 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, § 8078

1. New section filed 12-29-89 as an emergency; operative 12-29-89 (Register 90, No. 3). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed by operation of law on 4-30-90.
2. New section refiled 4-26-90 as an emergency; operative 4-26-90 (Register 90, No. 23). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed by operation of law on 8-24-90.
3. New section refiled 8-27-90 as an emergency; operative 8-27-90 (Register 90, No. 42). A Certificate of Compliance must be transmitted to OAL by 12-26-90 or emergency language will be repealed by operation of law on the following day.
4. New section refiled 12-19-90 as an emergency pursuant to Health and Safety Code section 50771.3; operative 12-19-90 (Register 91, No. 4). A Certificate of Compliance must be transmitted to OAL by 4-18-91 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 12-19-90 order transmitted to OAL 1-4-91; disapproved by OAL 2-4-91 (Register 91, No. 13).
6. New section refiled 2-20-91 as an emergency; operative 2-20-91 (Register 91, No. 13). A Certificate of Compliance must be transmitted to OAL by 6-17-91 or emergency language will be repealed by operation of law on the following day.
7. Certificate of Compliance as to 6-14-91 order including amendment of subsections (a), (b) and (c) transmitted to OAL 5-15-91 and filed 6-14-91 (Register 91, No. 38).

Note: Authority cited: Section 50771.1, Health and Safety Code. Reference: Sections 50010, 50735 and 50771.1, Health and Safety Code.