D.C. Mun. Regs. tit. 14, r. 14-3700

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

Rule 14-3700 - GENERAL PROVISIONS

3700.1

The purpose of the District of Columbia Home Purchase Assistance Step Up Program (Step Up Program) shall be as follows:

(a) To provide one-time housing purchase assistance to residents of the District of Columbia in low to moderate income households who currently own a condominium, a cooperative unit or a single family home, purchased with assistance from one of the District's home purchase assistance programs, and seek to purchase a single family home in the District that is larger or otherwise more appropriate for their households.

(b) To provide up to ($10,000) in down payment or closing assistance to qualified low to moderate income District homeowners who have insufficient assets from the sale of their current property to provide them funds for their subsequent purchase of more appropriate single-family housing.

3700.2

The administration of the Step Up Program shall be the responsibility of the District of Columbia Department of Housing and Community Development (DHCD).

3700.3

The DHCD may, in its discretion, contract with a qualified contractor(s) for the operation of the Step Up Program, consistent with this chapter.

3700.4

No officer, employee or agency of the District of Columbia government who exercises any functions or responsibility in connection with the administration of the Step Up Program shall be allowed to have any interest, direct or indirect, in the proceeds of a loan or any contract entered into by the applicant for the purchase of property financed, in whole or in part, with the proceeds, of the loan.

3700.5

The Director, for good cause shown in writing, may waive any provision of this chapter as he or she considers appropriate.

3700.6

The DHCD may establish other administrative procedures as it deems necessary to insure effective administration of the Program consistent with this chapter.

3700.7

Financial assistance under this Program shall be related to the income level of the applicant.

D.C. Mun. Regs. tit. 14, r. 14-3700

Notice of Final Rulemaking published at 47 DCR 9717-18 (December 8, 2000); as amended by Notice of Final Rulemaking published at 47 DCR 9717 (December 8, 2000)

AUTHORITY: The authority for the rules set forth in this chapter is section 6 of D.C. Law 12-266, the "Home Purchase Assistance Step Up Fund Act of 1998," codified at D.C. Official Code § 42-2625 (2001).