D.C. Mun. Regs. tit. 10, r. 10-B4501

Current through Register Vol. 71, No. 44, November 1, 2024

Rule 10-B4501 - DESCRIPTION OF LAHDO ASSISTANCE

4501.1

DHCD shall provide funds for the District's acquisition of land, whether vacant land or land underlying existing buildings, and lease the acquired land to the LAHDO Program applicant consistent with the requirements of § 4508.

4501.2

DHCD may acquire from the applicant, some or all of the site improvements made by the applicant to the District acquired or immediately adjoining public land, including but not limited to, the following:

(a) The installation of new or repair of existing water and sewer laterals, connections, fittings, conduits and meters;

(b) The installation of all electrical or natural gas service lines, connections, fittings, conduits and meters exterior to the building;

(c) The installation of new or repair of existing sidewalks, curbs, storm sewers or surface water gutters;

(d) The installation or repair of retaining walls or barriers and the resurfacing of existing parking lots; and

(e) The installation of property landscaping.

4501.3

DHCD may, in its discretion, acquire building(s) on the land which it acquires through the LAHDO Program, and sell the buildings to the applicant.

4501.4

DHCD may, in connection with the sale of the building(s), provide financing to the applicant for acquisition of the building(s) by accepting a note for a term determined by DHCD, but not to exceed two (2) years or the completion of rehabilitation, whichever is longer, which note shall be secured by a lien on the building(s) sold.

4501.5

DHCD may provide technical assistance to the extent necessary to assist an applicant in obtaining financial assistance under other District programs necessary to complete an economically feasible project.

4501.6

Financial assistance provided under LAHDO shall not exceed the amount, nor shall assistance be provided on terms more favorable than, necessary to accomplish the public objectives of the project, including the objective that at least twenty-five percent (25%) of the dwelling units be affordable by lower-income households consistent with § 4503.9.

4501.7

If financial assistance from programs other than LAHDO is necessary, the total financial assistance provided to the applicant from all public programs, including LAHDO assistance, shall not exceed an amount determined to be necessary to achieve project objectives and the financial feasibility of the project.

4501.8

Any failure of the applicant to comply with any terms or conditions of the LAHDO Program, including provisions of the Lease Agreement, or any terms and conditions of interim or rehabilitation loans or any other public financial or technical assistance program, shall constitute a default which may be actionable as determined in the sole discretion of DHCD.

D.C. Mun. Regs. tit. 10, r. 10-B4501

Final Rulemaking published at 36 DCR 8507, 8508 (December 22, 1989)