California Health and Safety Code 50853 – The department shall provide to tenants of subsidized rental units, …
The department shall provide to tenants of subsidized rental units, community organizations, local governmental agencies, and other interested persons all of the following:
(a) To the extent that information on federally and state subsidized housing projects, eligible for conversion, is available from federal, state, or other agencies, a written inventory of information on those projects, upon demand to the public. For each project, the information shall include, but not be limited to, the project name and address, the project owner, the earliest date of eligibility for subsidy termination, the type of ownership, the number of units in the building to be affected by conversion, the federal financing program, the loan contract number, the amount and term, interest rate, endorsement date, type of Section 8 contract, Section 8 contract number, and any other information determined to be pertinent.
Terms Used In California Health and Safety Code 50853
- Contract: A legal written agreement that becomes binding when signed.
- Conversion: means any of the following:
California Health and Safety Code 50852
- department: means State Department of Health Services. See California Health and Safety Code 20
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Owner: means the person, partnership, or corporation that is a party to a contract with a federal, state, or local governmental agency which provides a mortgage, mortgage assistance, or rent subsidy. See California Health and Safety Code 50852
- State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
(b) Written information concerning the legal rights, responsibilities and options of owners and tenants when an owner intends to convert the building.
(c) Written information concerning available technical assistance, within the state, for tenants and community nonprofits interested in buying those properties from the owner.
(d) Written information relating to the conversion process of federally subsidized rental units and applicable federal, state, and local laws.
(e) Any other information or technical assistance determined by the department to further the purposes of this chapter.
(Added by Stats. 1990, Ch. 1438, Sec. 2.)