D.C. Mun. Regs. tit. 11, r. 11-C1004

Current through Register Vol. 71, No. 49, December 6, 2024

Rule 11-C1004 - PURCHASE AND TENANCY REGULATIONS

1004.1

Except as provided for in Subtitle C § 1004.2, all inclusionary units created pursuant to this chapter shall be leased or sold only to eligible households for so long as the inclusionary development exists.

1004.2

An owner/occupant of an inclusionary unit may not sell the unit at a price greater than that established by the Mayor pursuant to D.C. Official Code § 6-1041.03 of the IZ Act unless the price is offered by the Mayor or a Housing Trust authorized by the Mayor:

(a) No eligible household shall be offered an inclusionary unit for rental or sale at an amount greater than that established by the Mayor pursuant to D.C. Official Code § 6-1041.03 of the IZ Act;

(b) The Mayor or DCHA shall have the right to purchase the greater of one (1) IZ unit or twenty- five percent (25%) of inclusionary units in a for-sale inclusionary development, or any number agreed to by the owner of the development, in accordance with procedures set forth in the IZ Act.

1004.3

Notwithstanding Subtitle C § 1004.2, nothing shall prohibit the Mayor or DCHA from acquiring title to inclusionary units in a for-sale inclusionary development if any of the following circumstances exist:

(a) There is a risk that title to the units will be transferred by foreclosure or deed-in- lieu of foreclosure, or that the units' mortgages will be assigned to the Secretary of the U.S. Department of Housing and Urban Development (HUD); or

(b) Title to the units has been transferred by the foreclosure or deed-in- lieu of foreclosure, or the units' mortgages have been assigned to HUD.

D.C. Mun. Regs. tit. 11, r. 11-C1004

Final Rulemaking published at 63 DCR 2447 (9/6/2016); amended by Final Rulemaking published at 63 DCR 015404 (6/5/2017)