Delaware Code Title 31 Sec. 4032 – Power to supervise housing sponsors
DSHA shall have the power to supervise housing sponsors, including limited profit housing sponsors and their real and personal property, in the following respects:
(1) DSHA may prescribe uniform systems of accounts and records for housing sponsors and may require them to make reports and give answers to specific questions on such forms and at such times as may be necessary for the purposes of this chapter.
(2) Through its agents or employees, DSHA may enter upon and inspect the lands, buildings and equipment of a housing sponsor, including all parts thereof, and may examine all books and records with reference to capital structure, income, expenditures and other payments of a housing sponsor.
(3) DSHA may supervise the operation and maintenance of any housing development and may order such repairs as may be necessary to protect the public interest or the health, welfare or safety of the housing development occupants.
(4) DSHA may fix, and alter from time to time, a schedule of rents and charges for any housing development.
(5) DSHA may determine, for any housing development, standards for tenant selection by a housing sponsor.
(6) DSHA may require any housing sponsor to pay to DSHA such fees as it may prescribe in connection with the examination, inspection, supervision, auditing or other regulations of the housing sponsor.
(7) DSHA may order any housing sponsor to do, or to refrain from doing, such things as may be necessary to comply with the provisions of the law, the rules and regulations of DSHA, and the terms of any contract or agreement to which the housing sponsor may be a party.
(8) DSHA may regulate the retirement of any capital investment or the redemption of stock where any such retirement or redemption, when added to any dividend or other distribution, shall exceed in any 1 fiscal year 10% of the original face amount of any investment by any housing sponsor.
(9) DSHA may prescribe regulations specifying the categories of cost which shall be allowable in the construction or rehabilitation of a housing development. DSHA shall require any housing sponsor to certify the actual housing development costs upon completion of the housing development, subject to audit and determination by DSHA. Notwithstanding this subdivision, DSHA may accept, in lieu of any certification of housing development costs, as provided herein, such other assurances of the said housing development costs, in any form or manner whatsoever, as will enable DSHA to determine with reasonable accuracy the amount of said housing development costs.
Terms Used In Delaware Code Title 31 Sec. 4032
- Contract: A legal written agreement that becomes binding when signed.
- DSHA: means the Delaware State Housing Authority created by § 4010 of this title. See Delaware Code Title 31 Sec. 4001
- Housing development: means living accommodations provided or to be provided pursuant to this chapter for 2 or more families by a housing sponsor. See Delaware Code Title 31 Sec. 4001
- Housing development costs: means the sum total of all costs incurred in the development of a housing development, which are approved by DSHA as reasonable and necessary, which costs shall include, but are not necessarily limited to:
- Housing sponsor: means individuals, public bodies, joint ventures, partnerships, limited partnerships, trusts, firms, associations or other legal entities or any combination thereof, corporations, cooperatives and condominiums, approved by DSHA, as qualified, either to own, construct, acquire, rehabilitate, operate, manage or maintain a housing development whether nonprofit or organized for limited profit and subject to the regulatory powers of DSHA and other terms and conditions set forth in this chapter. See Delaware Code Title 31 Sec. 4001
- Personal property: All property that is not real property.