Dollar Home Sales (14.313)

Program

14.313 Dollar Home Sales

Federal Agency

Agency: Department of Housing and Urban Development
Office: Office Of Housing-federal Housing Commissioner

Authorization

Housing Notice 00-07, dated April 28, 2000 (and subsequent extensions).

Program Number

14.313

Last Known Status

Active

Objectives

To expand HUD's partnership with local governments in helping to foster housing opportunities for low-to-moderate income families and address specific community needs.

Types of Assistance

SALE, EXCHANGE, OR DONATION OF PROPERTY OR GOODS

Uses and Use Restrictions

Single family homes that are acquired through foreclosure of Federal Housing Administration (FHA) insured loans will be available for purchase by local governments at a price of $1 plus closing costs, after the properties have been actively marketed for at least six months and remain unsold. The property must be located with the jurisdiction of the purchasing local government with the intent of using the property for a "clear public purpose".

Eligibility Requirements

Applicant Eligibility

Local government legally authorized by local law to make the purchase.

Beneficiary Eligibility

Low- to moderate-income families and communities.

Credentials/Documentation

Evidence of authority to purchase. This program is excluded from coverage under OMB Circular No. A-87.

Application and Award Process

Preapplication Coordination

Preapplication coordination is not applicable. Environmental impact information is not required for this program. This program is excluded from coverage under E.O. 12372.

Application Procedure

This program is excluded from coverage under OMB Circular No. A-102. This program is excluded from coverage under OMB Circular No. A-110. Submit HUD-9548, Sales Agreement, stating a purchase price of one dollar ($1.00) plus closing costs, together with the Addendum to Sales Contract in the form attached to Housing Notice 06-02, as further detailed in Housing Notice 00-07, to HUD by close of the 10-day listing period for a property.

Award Procedure

Evaluation of the documentation required by the application procedure evidenced by HUD's execution of the Sales Agreement and approval of the purchaser's plan for use of the property.

Deadlines

Not Applicable.

Range of Approval/Disapproval Time

Properties assigned to this program are offered for ten days.

Appeals

Not Applicable.

Renewals

Not Applicable.

Assistance Considerations

Formula and Matching Requirements

This program has no statutory formula.

Matching requirements are not applicable to this program.

MOE requirements are not applicable to this program.

Length and Time Phasing of Assistance

not applicable. Method of awarding/releasing assistance: quarterly.

Post Assistance Requirements

Reports

Audits

Not Applicable.

Records

All annual reports submitted by local governments will be maintained by HOC Program Support Staff Director.

Program Accomplishments

Fiscal Year 2008: Approximately 289 homes were sold in Fiscal Year 2008. Fiscal Year 2009: No Current Data Available Fiscal Year 2010: No Current Data Available

Financial Information

Account Identification

86-0470-0-1-371.

Obligations

(Sale, Exchange, or Donation of Property and Goods) FY 08 $0; FY 09 est $0; FY 10 est $0 - FY 08 Reported Under 14.311
FY 09 Reported Under 14.311
FY 10 Reported Under 14.311.

Range and Average of Financial Assistance

No Data Available.

Regulations, Guidelines and Literature

Not Applicable.

Related Programs

Not Applicable.

Information Contacts

Regional or Local Office

See Regional Agency Offices. Contact the appropriate HUD Homeownership Center listed in Appendix IV of the Catalog.

Headquarters Office

Wanda L. Sampedro, 451 7th Street, SW, Washington, District of Columbia 20410 Email: wanda.sampedro@hud.gov Phone: (202) 402-2324.

Web Site Address

http://www.hud.gov/offices/hsg/sfh/reo/goodn/dhmabout.cfm.

Examples of Funded Projects

Not Applicable.

Criteria for Selecting Proposals

Not Applicable.