(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.

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Terms Used In Rhode Island General Laws 34-45-5

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: means the Rhode Island housing and mortgage finance corporation, a corporation, instrumentality and agency of the state established pursuant to the Rhode Island housing and mortgage finance corporation act, chapter 55 of Title 42. See Rhode Island General Laws 34-45-4
  • Development: means any structure or group of structures situated in the state which is federally insured or assisted; provided, however that the term "development" does not include any structure or group of structures which are not federally insured or assisted, although such structures may be commonly owned with units that receive such federal assistance or sent to such units; and provided further than this chapter shall not apply to a development whose owner gave notice to the United States department of housing and urban development pursuant to § 262 of the Housing and Community Development Act of 1987, Rhode Island General Laws 34-45-4
  • Owner: means an individual, corporation, association, partnership, joint venture, or business entity which holds title to a development. See Rhode Island General Laws 34-45-4
  • Tenant: means a tenant, subtenant, lessee, sublessee, or other person entitled to possession, occupancy, or receiving the benefits of, a federally insured or assisted rental unit within a development. See Rhode Island General Laws 34-45-4
  • United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8

(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.