Section 10-B3309. RENT REGULATORY AGREEMENTS

 

3309.1The owner of each project determined to be eligible for real property tax deferral or moratorium, or for deferral or forgiveness of indebtedness to the District under this chapter, shall be required to enter into a rent regulatory agreement with the DHCD prior to the issuance by the DHCD of a Conditional Agreement for Deferral or Forgiveness under §3310.

 

3309.2Each rent regulatory agreement ("agreement") shall include, but not be limited to, the following requirements:

 

(a)Provide that the project shall be completed in conformity with the plans and specifications submitted for the project with the application;

 

(b)Establish the basis for the approval or disapproval of rent increase in the reserved units during the term of the agreement;

 

(c)Provide for marketing and tenant selection policies to be followed by the housing provider consistent with the requirements of §§3305, 3306 and other related provisions of this chapter.

 

(d)Provide that the housing provider shall give priority in renting vacant reserved units in the project to persons on the DHCD public housing waiting list, the Department's waiting list for Section 8 Certificates, Tenant Assistance Program Certificates, or other similar forms of rental assistance as may be available;

 

(e)Provide that the house provider shall rent vacant non-reserved units in the project to persons specified in paragraph (d) of this subsection at all times on an equal basis with any other applicant;

 

(f)Provide that all indebtedness of the property which has been deferred or forgiven under §§3308.1, 3308.2 or 3308.13 shall become immediately due and payable upon the transfer or sale of the property, or the majority of any ownership interest in the property, from the property with whom the rent regulatory agreement has been executed to any other party;

 

(g)Provide that the housing provider shall execute Note(s) and Deed(s) of Trust as provided for in §§3308.5 through 3308.14; and

 

(h)Provide that DHCD may establish any other means of enforcement of the provisions of the rent regulatory agreement as it determines to be necessary consistent with this chapter and other provisions of D.C. law.

 

3309.3The requirement of §3309.2(f) may be waived by the DHCD if the party to whom the property or the ownership interest in the property is transferred shall agree in writing to all the terms and conditions of the rent regulatory agreement and there are at least two (2) years remaining in the term of the agreement.

 

3309.4The term of each rent regulatory agreement for a project determined to be eligible for tax deferral or moratorium, or deferral or forgiveness of indebtedness, shall be ten (10) years.

 

source

Final Rulemaking published at 35 DCR 2541, 2558 (April 8, 1988).