TITLE 34
Property

CHAPTER 34-45
Preservation of Federally Insured or Assisted Housing

SECTION 34-45-5


§ 34-45-5 Notice of termination of section 8 contract.

(a) Not less than two (2) years prior to terminating any contract under which rental assistance payments are received under § 8 of the United States Housing Act of 1937, 42 U.S.C. § 1437f, an owner shall provide written notice to the corporation, specifying the reasons for the termination with sufficient detail to enable the corporation to evaluate whether the termination is lawful and whether there are additional actions that can be taken by the corporation to avoid the termination. The corporation shall review the owner's notice, and shall consider whether there are additional actions that can be taken by the corporation to avoid the termination.

(b) Within thirty (30) days of the owner's notice the corporation shall issue a written finding of the legality of the termination and the reasons for the termination, including the actions considered or taken to avoid the termination.

(c) For purposes of this section, "termination" means the expiration of the § 8 assistance contract or an owner's refusal to renew the § 8 assistance contract.

(d) Within twenty-four (24) hours of providing the corporation with the notice required by this section, the owner shall:

(1) Send a copy of the notice, by registered or certified mail, return receipt requested, to the tenant association of the development, and

(2) Post a copy of the notice in a conspicuous place in common areas of the development.

History of Section.
(P.L. 1988, ch. 508, § 1; P.L. 1989, ch. 493, § 1.)