The owner of a Low-income Rental Housing Project who intends
to take such action, must provide Notice to the Tenants of the project, Maine
Housing, and the municipal housing authority, if any, for the municipality in
which the project is located at least 90 days prior to entering into a contract
for sale of the Low-income Rental Housing Project or taking any other action
which will terminate rental assistance or affordability restrictions.
a. The Notice to the Tenant must include the
following:
i. a statement of the action the
owner intends to take;
ii. the
anticipated date of the action;
iii. the impact on Tenant and the timing of
the impact;
iv. whether
governmental assistance is available to the Tenant, in what form, and how
Tenants may obtain the assistance;
v. the name and telephone number of the
municipality; the municipal housing authority, if any; and a legal services
organization that can be contacted to request additional information about an
owner's responsibilities and the rights and options of the Tenant;
vi. whether the Tenants will be allowed to
remain in their units at the same rent for 6 months following the loss of
rental assistance or affordability restrictions; and
vii. whether the Tenant is eligible for
relocation assistance as set forth below.
b. The Notice to Maine Housing and the
municipal housing authority, if any, must include:
i. a copy of the above described Notice to
the Tenant;
ii. a copy of any
notices regarding the termination of assistance provided pursuant to Federal
law;
iii. an itemized list of
monthly operating expenses for the project;
iv. copies of the two most recent financial
and physical inspection reports on the project, if any, filed with a federal,
state, or local agency;
v. a
description of capital improvements made within the two preceding calendar
years at the project;
vi. the
amount of project reserves;
vii.
the rent paid for each unit and the subsidy, if any, paid by a governmental
agency for each unit as of the date of the Notice;
viii. the vacancy rate at the project for
each of the preceding two years; and
ix. the terms of assumable financing, if any,
and the terms of the subsidy contract, if any.
c. An owner may at least 30 days prior to
sending the above Notices, request Maine Housing to waive the Notice
requirements outlined in 3.b.ii-ix. Maine Housing may waive such Notice
requirements if Maine Housing is not interested in purchasing the
property.
