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HomeMy WebLinkAboutMINUTES - 09212004 - HA2 HOUSING AUTHORITY OF THE COUNTY OF CONTRA COSTA qA Y TO: BOARD OF COMMISSIONERS FROM: Robert McEwan, Executive Director DATE: September 21, 2004 SUBJECT: APPROVE REVISION TO THE PHA ANNUAL PLAN FOR FISCAL YEAR 2004-05 FOR THE HOUSING AUTHORITY OF THE COUNTY OF CONTRA COSTA AS MANDATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION 1. RECOMMENDED ACTION: APPROVE the Public Housing Agency (PHA) Revised Annual Plan for fiscal year 2004-05. ADOPT the "PHA Certification of Compliance with the PHA Plans and Related Regulations Board Resolution to Accompany the PHA Plan" (Resolution No.5055). 11. FINANCIAL IMPACT: None. Ill. REASONS FOR RECOMMENDATION/BACKGROUND The Housing Authority is requesting approval for its revised PHA Five Year and Annual Plan for fiscal year 2004-05 as required by the federal Quality Housing and Work Responsibility Act of 1998 (QWHRA). The Housing Authority's 2004-05 PHA Annual Plan was approved by your Board Resolution No. 5048, on January 27, 2004. There has been a significant change to the original pian that warrants your approval of the revised Annual Pian for 2004-05. The revision allows for the development and implementation of a Public Housing Homeownership program primarily at two of the three Las Deltas public housing developments in the North Richmond community and provides for this program and its requirements to be included in the Admissions and Continued Occupancy Policy (ACOP) manual for public housing. A copy of Attachment "T" to the revised fiscal year 2004-05 Five Year and Annual Plan (which is the same as Chapter 18 of the ACOP) is included for review. Notices were published in newspapers of general circulation and posted at each of the Housing Authority's developments to inform the residents of the new Annual Plan, the scheduled public hearing date and to solicit comments. The Housing Authority Resident Advisory Board approved the revisions to the Five Year and Annual Plan on June 10, 2004 pending the comments received at the required public CONTINUED ON ATTACHMENT: /YES SIGNATURE I RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMENDATION OF BOARD COMMITTEE t V APPROVE OTHER SIGNATURE(S): III I I I ACTION OF BOARD APPROVED AS RECOMMENDED OTHER VOTE OF COMMISSIONERS I HEREBY CERTIFY THAT THIS IS A UNANIMOUS (ABSENT >I'f ✓ ) TRUE AND CORRECT COPY OF AN AYES: NOES: ACTION TAKEN AND ENTERED ON THE ABSENT: ABSTAIN: MINUTES OF THE BOARD OF COMMISSIONERS ON THE DATE SHOWN. ATTESTED 4EWIt' ) r •(5 :;t. 1 HN SWEETEN,CL RK OF THE BOARD OF COMMISSIONERS AND COUNTY ADMINISTRATOR { BY,L-- 'uIi '- -A-,DEPUTY H:\JudyHayes\MSOFFICE\WINWORD\BOARD\BO-Annual Plan 2004-05 Revisions.doc Housing Authority of the County of Contra Costa Board Order: Annual Plan for Fiscal Year 2004-05 Page 2 hearing. At a scheduled public hearing on July 15, 2004, forty-seven days after the public notice, there was nobody in attendance from the public. The Advisory Housing Commission has reviewed the revisions to the Annual Plan and recommends approval. IV. CONSEQUENCES OF NEGATIVE ACTION: Should the Board of Commissioner elect not to adopt Resolution No. 5055 approving the Authority's Revised Annual Plan for fiscal year 2004-05, the Housing Authority would not be able to implement a Public Housing Homeownership Program at two of it's three public housing developments in North Richmond (Las Deltas). Resolution No. 5055 September 21, 2004 PHA Certifications of Compliance with the PHA Revised Plans and Related Regulations Board Resolution to Accompany the Revised PHA Revised Plan Resolution No.5055 Acting on behalf of the Board of Commissioners of the Public Housing Agency(PHA)listed below,as its Chairman or other authorized PHA official if there is no Board of Commissioners, I approve the submission of the Revised 5-Year Revised Plan and Annual Revised Plan for PHA fiscal year beginning 2004, hereinafter referred to as the Revised Plan of which this document is a part and make the following certifications and agreements with the Department of Housing and Urban Development (HUD) in connection with the submission of the Revised Plan and implementation thereof: 1. The Revised Plan is consistent with the applicable comprehensive housing affordability strategy (or any Revised Plan incorporating such strategy) for the jurisdiction in which the PHA is located. 2. The Revised Plan contains a certification by the appropriate State or local officials that the Revised Plan is consistent with the applicable Consolidated Revised Plan, which includes a certification that requires the preparation of an Analysis of Impediments to Fair Housing Choice, for the PHA 's jurisdiction and a description of the manner in which the PHA Revised Plan is consistent with the applicable Consolidated Plan. 3. The PHA has established a Resident Advisory Board or Boards, the membership of which represents the residents assisted by the PHA, consulted with this Board or Boards in developing the Revised Plan, and considered the recommendations of the Board or Boards(24 CFR 903.13). The PHA has included in the Revised Plan submission a copy of the recommendations made by the Resident Advisory Board or Boards and a description of the manner in which the Revised Plan addresses these recommendations. 4. The PHA made the proposed Revised Plan and all information relevant to the public hearing available for public inspection at least 45 days before the hearing; published a notice that a hearing would be held and conducted a hearing to discuss the Revised Plan and invited public comment. 5. The PHA will carry out the Revised Plan in conformity with Title VI of the Civil Rights Act of 1964, the Fair Housing Act, section 504 of the Rehabilitation Act of 1973, and title 11 of the Americans with Disabilities Act of 1990. 6. The PHA will affirmatively further fair housing by examining their programs or proposed programs, identify any impediments to fair housing choice within those programs, address those impediments in a reasonable fashion in view of the resources available and work with local jurisdictions to implement any of the jurisdiction's initiatives to affirmatively further fair housing that require the PHA's involvement and maintain records reflecting these analyses and actions. 7. The PHA Revised Plan includes a policy for site-based waiting lists: • The PHA regularly submits required data to HUD's MTCS in an accurate, complete and timely manner(as specified in PIH Notice 99-2); • The system of site-based waiting lists provides for full disclosure to each applicant in the selection of the development in which to reside, including basic information about available sites, and an estimate of the period of time the applicant would likely have to wait to be admitted to units of different sizes and types at each site; • Adoption of site-based waiting list would not violate any court order or settlement agreement or be inconsistent with a pending complaint brought by HUD; • The PHA shall take reasonable measures to assure that such waiting list is consistent with affirmatively furthering fair housing; • The PHA provides for review of its site-based waitin list policy to determine if it is consistent with civil rights laws and certifications, as specified in 24 CFR part 903.7(c)(1). 8. The PHA will comply with the prohibitions against discrimination on the basis of age pursuant to the Age Discrimination Act of 1975. 9. The PHA will comply with the Architectural Barriers Act of 1968 and 24 CFR Part 41, Policies and Procedures for the Enforcement of Standards and Requirements for Accessibility by the Physically Handicapped. 10. The PHA will comply with the requirements of section 3 of the Housing and Urban Development Act of 1968, Employment Opportunities for Low- or Very-Low Income Persons, and with its implementing regulation at 24 CFR Part 135. 11. The PHA has submitted with the Revised Plan a certification with regard to a drug free workplace required by 24 CFR Part 24, Subpart F. 12. The PHA has submitted with the Revised Plan a certification with regard to compliance with restrictions on lobbying required by 24 CFR Part 87,together with disclosure forms if required by this Part, and with restrictions on payments to influence Federal Transactions, in accordance with the Byrd Amendment and implementing regulations at 49 CFR Part 24. 13. The PHA will comply with acquisition and relocation requirements of the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 and implementing regulations at 49 CFR Part 24 as applicable. 14. The PHA will take appropriate affirmative action to award contracts to minority and women's business enterprises under 24 CFR 5.105(a). 15. The PHA will provide HUD or the responsible entity any documentation that the Department needs to carry out its review under the National Environmental Policy Act and other related authorities in accordance with 24 CFR Part 58. Resolution No. 5055 Se tember 2I 2004 16. With respect to public housing the PHA will comply with Davis-Bacon or HUD determined wage rate requirements under section 12 of the United States Housing Act of 1937 and the Contract Work Hours and Safety Standards Act. 17. The PHA will keep records in accordance with 24 CFR. 85.20 and facilitate an effective audit to determine compliance with program requirements. 18. The PHA will comply with the Lead-Based Paint Poisoning Prevention Act and 24 GFR Part 35. 19. The PHA will comply with the policies, guidelines,and requirements of OMB Circular No. A-87 (Cost Principles for State, Local and Indian Tribal Governments) and 24 CFR Part 85 (Administrative Requirements for Grants and Cooperative Agreements to State, Local and Federally Recognized Indian Tribal Governments.). 20. The PHA will undertake only activities and programs covered by the Revised Plan in a manner consistent with. its Revised Plan and will utilize covered grant funds only for activities that are approvable under the regulations and included in its Revised Plan. 21. All attachments to the Revised Plan have been and will continue to be available at all times and all locations that the YHA Revised Plan is available for public inspection. All required supporting documents have been made available for public inspection along with the Revised Plan and attachments at the primary business office of the PFIA and at all other times and locations identified by the PHA in its PHA Revised Plan and will continue to be made available at least at the primary business office of the PHA. HOUSING AUTHORITY OF THE COUNTY OF CONTRA COSTA CA011 PHA Name PHA Number Date:si a ✓ s t -Q4_11 . SignSign�)ated by PHA Board Chair or other authorized PHA official PHA Certifications of Compliance with the PHA Revised Plans and Related Regulations PASSED AND ADOPTED ON S -ho—mbw G-i by the following vote of the Commissioners AYES: GlooIA, unKm, GRMa [tG, t RMffff'R, GLOM, MCS NOES: I ABSENT: N; ABSTAIN. i I HEREBY CERTIFY THAT THIS IS A TRUE AND CORRECT COPY OF AN ACTION TAKEN AND ENTERED ON THE MINUTES OF THE BOARD OF COMMISSIONERS ON THE DATE SHOWN ATTESTED �, ( '-' JOHN SWEETEN4,�CLERK OF � THE BOARD OF COMMISSIONERS AND COUNTY ADMINISTRATOR BY � - 4tc r Attachment T to the Annual plan Chapter 18: PUBLIC HOUSING HOMEOWNERSHIP PROGRAM GENERAL PROVISIONS (24 CFR 906) (Sect. 32) The Public Housing Home Ownership Program of the Housing Authority of the County of Contra Costa ("HACCC") makes available for purchase by low income families for use as their principal residences public housing dwelling units, public housing developments, and other housing units or developments owned, assisted or operated, or otherwise acquired by the PHA for sale under a homeownership program in connection with the use of assistance provided under the 1937 Act (1937 Act funds). ELIGIBLE PURCHASERS (24 CFR 906.11) Entities that purchase units from PHA for resale to low-income families (purchase and resale entities or PRFs) and low-income families are eligible to purchase properties made available for sale under a PHA homeownership program. HACCC has the option to consider selling property to PREs. It may also exercise its option to sell property directly only to eligible purchasers. RIGHT OF FIRST REFUSAL (24 CFR 906.13) • HACCC shall initially offer the unit to the resident occupying the unit, if any, notwithstanding the requirements of 906.15(a) and 906.15(c). • This program does not require the HACCC, when selling a unit that is non-public housing unit, to offer the unit for sale first to the current resident of the unit. FAMILY ELIGIBILITY REQUIREMENTS (24 CFR 906.15) • Low-income requirement. Except in the case of a PHA's offer of first refusal to a resident occupying the unit under 906.13, a family purchasing a property under a PHA homeownership program must be a low-income family, as defined in section 3 of the 1937 Act (42 U.S.C. 1437a), at the time the contract to purchase the property is executed. • Principal residence requirement. The dwelling unit sold to an eligible family must be used as the principal residence of the family. • Financial capacity requirement. Eligibility must be limited to families who are capable of assuming the financial obligations of homeownership, under minimum income standards for affordability, taking into account the unavailability of public housing operating subsidies and modernization funds after conveyance of the property by the HACCC. The homeownership program may take account any available subsidy from other sources. Under this affordability standard, an applicant must also meet the following requirements: 1. Cost/income ratio - on an average monthly estimate, the amount of the applicant's payments for mortgage principal and interest, plus insurance , real estate taxes, utilities, maintenance and other regularly recurring homeownership costs (such as condominium, cooperative, or other homeownership association fees) will not exceed the sum of: • 35 percent of the applicant's adjusted income as defined in 24 CFR part 913; and • Any subsidy that will be available for such payments: 2. Down payment requirement _Each family purchasing housing under this program must provide a down payment in connection with any loan for acquisition of the housing, in an amount determined by the PHA or PRE. The family may be able to use grant amounts, gifts from relatives, contributions from private sources, and other similar amounts in making the down payment. 3. The family must use its own resources ether than grants, gifts, contributions, or similar amounts, to contribute an amount of the down payment that is not less than one percent (1%) of the purchase price of the housing. • Other requirements. ■ Employment or participation in employment counseling or training activities ■ Criminal activity check • Participation in homeownership counseling programs ■ Evidence of regular income _. FIRST TIME HOME OWNER REQUIREMENT Each public housing family, except families with a disabled member, must be a first-time homeowner as defined by HUD. A"first-time homeowner" means that no member of the household has had an ownership interest in any residence during the three years preceding commencement of home ownership assistance. However, a single parent or displaced homemaker who, while married, owned a home with a spouse (or resided in a home owned by a spouse) is considered a "first-time homeowner" for purposes of the public housing homeownership option; and the right to purchase title to a residence under a lease-purchase agreement is not considered an "ownership interest." A member of a cooperative (as defined in § 982.4) also qualifies as a "first time homeowner". Minimum Income Requirement-Amount of Income. (42 U.S.C. 1437a) Applicant must be a low-income family as defined in 42 U.S.C. 1437x. The families' incomes do not exceed 80 percent of the average median income for the County of Contra Costa (subject to change in accordance with HUD income limits) Exclusion of Welfare Assistance Income With the exception of elderly and disabled families, the HACCC will disregard any "welfare assistance" income in determining whether the family meets the minimum income requirement. Welfare assistance includes assistance from Temporary Assistance for Needy Families ("TANF"); Supplemental Security Income ("SSI") that is subject to an income eligibility test; food stamps; general assistance; or other welfare assistance specified by HUD. The disregard of welfare assistance income under this section affects the determination of minimum monthly income in determining initial qualification for the home ownership program Employment History With the exception of disabled and elderly households, each family must demonstrate that one or more adult members of the family who will own the home at commencement of home ownership assistance is employed full-time (an average of 30 hours per week) and has been so continuously employed for one year prior to execution of the sales agreement. In order to reasonably accommodate a family's participation in the program, HACCC will exempt families that include a person with disabilities from this requirement. HUD regulations define "full time" employment as not less 30 hours per week. A family will be considered to have been continuously employed even if that family member has experienced a break in employment, provided that the break in employment; • Did not exceed 30 calendar days • Did not occur within the 6-month period immediately prior to the family's request to utilize the homeownership option, and * Has been the only break in employment within the past calendar months. Repayment of Any Housing Authority debts Participants in the public housing program shall be ineligible for participation in the public housing home ownership program in the event any debt or portion of a debt remains owed to the HACCC or any other Housing Authority. Nothing in this provision will preclude public housing participants that have fully repaid such debt(s) from participating in the public housing home ownership program. Additional Eligibility Factors Elderly and Disabled Households Elderly and disabled families are exempt from the employment requirements set forth in Section 2. C. above. In the case of an elderly or disabled family, the HACCC will consider income from all sources, including welfare assistance in evaluating whether the household meets the minimum income required to purchase a home through the public housing home ownership program. Participation in FSS Program Applicants for the public housing home ownership program who participate in the HACCC's Family Self Sufficiency ("FSS") program will be given priority. Prior Mortgage Defaults If a head of household, spouse, or other adult household member who will execute the contract of sale, mortgage and ban documents has previously defaulted on a mortgage obtained through the public housing home ownership program or any public home ownership programs, the family will be ineligible to participate in the public housing home ownership program. FAMILY PARTICIPATION REQUIREMENTS Once a family is determined to be eligible to participate in the program, it must comply with the following additional requirements: * complete a home ownership counseling program approved by the HACCC prior to commencement of homeownership assistance; • within a specified time, locate the home it proposes to purchase; • submit a sales agreement containing specific components to the HACCC for approval; • allow the HACCC to inspect the proposed home ownership dwelling to assure that the dwelling meets appropriate housing quality standards; obtain HACCC approval of the proposed mortgage (which must comply with generally accepted mortgage underwriting requirements); and enter into a written agreement with the HACCC to comply with all of its obligations under the public housing program. Homeownership Counseling [24 CFR 982.630] A family's participation in the home ownership program is conditioned on the family attending and successfully completing a home ownership and housing counseling program provided or approved by the HACCC prior to submission of application for purchase of a public housing unit. The homeownership and counseling program will cover home maintenance( including care of the grounds); budgeting and money management; credit counseling; negotiating purchase price; securing mortgage financing; finding a home; and the advantages of purchasing and locating homes in areas that do not have a high concentration of low-income families; information about state and Federal truth-in-lending laws, and how to avoid loans with oppressive terms and conditions Note: § 982.620(b) provides "suggested topics" for the PHA required pre-assistance counseling program --- which are, for the most part, included here. HACCC omitted suggested topics regarding fair housing, RESPA obligations and predatory lending issues. These topics should also be included in the homeownership counseling program. The counseling agency providing the counseling program shall either be approved by HUD or the program shall be consistent with the home ownership counseling provided under HUD's Housing Counseling program. The HACCC may require families to participate in a HACCC-approved homeownership counseling program on a continuing basis. A family approved for Public Housing home ownership assistance may only purchase a public housing development the HACCC offers for sale for purchase for use as their principal residence. The family may not purchase a home in a jurisdiction other than the County of Contra Costa • Purchasing a Home. Once the HACCC and the family signs a sales agreement approved by the HACCC offer a home for sale, the family shall have up to 45 calendar days to obtain financing. The HACCC's Executive Director or his/her designees may extend this period up to 90 days from the date of sales purchase agreement. HACCC will require periodic reports on the family's progress in finding and purchasing a home. The family will provide such reports at interval to be determined by the Housing Services Counselor. • Failure to Complete Purchase. if a public housing participant is unable to purchase the home within the maximum time permitted by HACCC, HACCC shall continue the family's participation in the public housing program. The family may not re-apply for the public housing home ownership program until they have completed an additional year of participation in the public housing program following the initial determination of their eligibility for the home ownership option. Sales Agreement Prior to execution of the offer to purchase or sales agreement, the family must provide the financing terms to the HACCC for approval. The sales agreement must provide for inspection by the HACCC. The sales agreement must provide that the purchaser is not obligated to purchase if the mortgage financing terms are not approved by the HACCC. Financing Requirements [ 24 CFR 982, 632] The proposed financing terms must be submitted to and approved by the HACCC prior to close of escrow. HACCC shall determine the affordability of the family's proposed financing. In making such determination, HACCC may take into account other family expenses, including but not limited to child care, non- reimbursable medical expenses, education and training expenses and the like. Certain types of financing, including but not limited to, balloon payment mortgages, unless convertible to a variable rate mortgage, are prohibited and will not be approved by the HACCC. In house HACCC-financing mortgages may be considered by the HACCC on a case by case basis. If a mortgage is not FHA-insured, HACCC will require the lender to comply with generally accepted mortgage underwriting standards consistent with those of HUD/ FHA, Ginnie Mae, Fannie Mae, Freddie Mac, California Housing Finance Agency (CHFA), USDA Rural Housing Services, the Federal Home Loan Bank, or other private lending institution. Compliance With Family Obligations A family must agree, in writing, to comply with all family obligations under the public housing program and HACCC's home ownership policies. These obligations include (1) attending ongoing homeownership counseling, if required by the HACCC; (2) complying with the mortgage terms; (3) cannot sell or transfer the home to anyone other than to an eligible family who qualifies under the public housing homeownership program and approved by HACCC; (4) cannot refinance or add debt secured by the home; (5) cannot obtain a present ownership interest in another residence and also participating in a public home ownership assistance; and (6) must supply all required information to the HACCC, including but not limited to annual verification of household income, notice of change in home ownership expenses, notice of move-out, and notice of mortgage default. HACCC's Homeownership Family Obligation policies and other certifications as requested by the HACCC. RESTRICTION ON SALE OF A PUBLIC HOUSING UNIT Purchaser may not sell a public housing unit unless it is only sold to a buyer who meets all the eligibility requirements established by HACCC and have resided on the property for at least five (5) years. RECAPTURE OF NET PROCEEDS ON THE SALE OF PROPERTY [24 CFR 906.27] The following rules apply to recapture of net proceeds on the sale of property. • Net proceeds means the financial gain on resale received by the seller after satisfying all amounts owing under mortgages, paying closing costs, and receiving an amount equal to the down payment (made from the seller's own funds) and principal payments on the mortgage. • Gain from appreciation means the financial gain on resale attributable solely to the home's appreciation in value over time and not attributable to government provided assistance or any below m market financing provided under 24 CFR 906.29. • The gain from appreciation and assistance to recapture are not limited to the following: ■ The aggregate amount of assistance provided under the homeownership program. ■ The contribution of equity by the purchasing family. ■ The period of time elapsed between purchase by the homebuyer under the homeownership program and resale by the homebuyer. ■ The reason for resale. ■ Any improvements made by the purchasing family under the homeownership program. ■ Any appreciation in the value of the property. ■ Any other factors that the HACCC considers appropriate in making the recapture determination. • HACCC will enforce its recapture policy through an appropriate form of title restriction. BELOW MARKET SALES AND FINANCING [24 CFR 906.29] Below market purchase prices or below market financing to enable below market purchases or a combination of the two methods may be made available to eligible buyers. Discounted purchase prices may be determined on a unit by unit basis, based on the particular purchaser's ability to pay, or may be determined by any other fair and reasonable method (e.g. uniform prices for a group of comparable dwellings, within a range of affordability by potential purchases). Below market financing may include any lawful type of public or private financing, including but not limited to purchase money mortgages, non cash second mortgages, promissory notes, guarantees of mortgage loans from other lenders, shared equity, or lease-purchase arrangements. HACCC depending on market conditions may elect to offer below market sales and financing or market sales and financing to eligible purchasers only. TITLE RESTRICTION & ENCUMBRANCES (24 CFR 966.9) If property is subject to indebtedness under the Annual Contribution Contract (ACC), title to property is subject to the encumbrance based on the amount of the indebtedness. Upon sale of a public housing unit to a public housing tenant or eligible family, or to a PRE operating the units as non-public housing, in accordance with the HUD approved homeownership program, HUD will execute a release of the title restrictions prescribed by the ACC. PROTECTIONS AVAILABLE TO NON-PURCHASING PUBLIC HOUSING RESIDENTS If a public housing resident does not exercise the right of first refusal under 24 CFR 906.13 and the HACCC determines to move the tenant for the purpose of transferring possession of the unit, the HACCC will provide notice 90 days before the date the resident is displaced, and may not displace the resident, except in cases of imminent threat to health or safety, for the full 90 day period, the HACCC: • Will notify the resident residing in the unit 90 days prior to the displacement date, except in cases of imminent threat to health or safety that: The public housing unit will be sold. ■ The transfer of possession of the unit will not occur until the resident is relocated. ■ Each resident displaced by such action will be offered comparable housing • Provide for the payment of the actual costs and reasonable relocation expenses of the resident to be displaced. • Ensure that the resident is offered comparable housing. • Provide counseling for displaced residents regarding their rights to comparable housing, including their rights under the Fair Housing Act to choice of a unit on a nondiscriminatory basis, without regard to race, color, religion, national origin, disability, age, sex, or familial status. • HACCC will not transfer possession of the unit until the resident is relocated. • For purposes of this section, the term "comparable housing" means housing: • That meets housing quality standards. ■ That is located in an area that is generally not less desirable than the displaced resident's original development ■ Which may include: a Tenant based assistance (tenant based assistance will only be provided upon the relocation of the resident to the comparable housing) • Project based assistance a Occupancy in a unit owned, operated, or assisted by the HACCC at a rental rate, paid by the resident that is comparable to the rental rate applicable to the unit from which the resident is vacating. OWNERSHIP INTERESTS THAT MAY BE CONVEYED TO A PURCHASER The homeownership program may provide for sale to the purchasing family of any ownership interest that the HACCC considers appropriate under the homeownership program, including but not limited to: • Ownership in fee simple • A condominium interest • A shared appreciation interest with a HACCC provided financing • A leasehold under a bona fide lease purchase agreement. WAIVER OR MODIFICATION OF HOME OWNERSHIP POLICIES The Executive Director or his/her designee of the HACCC shall have the discretion to waive or modify any provision of the Public Housing Homeownership Program or policies not governed by statute or regulation for good cause or to comply with changes in HUD regulations, directives ,and the Housing Authority goals.