24 CFR 970.35 – Reports and records
(a) After HUD approval of demolition or disposition of all or part of a project, the PHA shall provide information on the following:
Terms Used In 24 CFR 970.35
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(1) Actual completion of each demolition contract by entering the appropriate information into HUD’s applicable data system, or providing the information by another method HUD may require, within a week of making the final payment to the demolition contractor, or expending the last remaining funds if funded by force account;
(2) Execution of sales or lease contracts by entering the appropriate information into HUD’s applicable data system, or providing the information by another method HUD may require, within a week of execution;
(3) The PHA’s use of the proceeds of sale by providing a financial statement showing how the funds were expended by item and dollar amount;
(4) Amounts expended for closing costs and relocation expenses, by providing a financial statement showing this information for each property sold; and
(5) Such other information as HUD may from time to time require.
(b) [Reserved]