SECTION 330:40-9-2. Final approval

(a)   Applicants shall identify proposed Properties for their Project in their Application. Final approval by OHFA of all Project Properties is required before funding. Properties must meet:

(1)   the minimum housing quality standards adopted by HUD and set forth at 24 CFR 882.109, which housing quality standards are specifically adopted herein by reference; and

(2)   comply with all state and local zoning requirements.

(b)   If, upon inspection, Property(ies) fail to pass minimum housing quality standards, OHFA may, upon written notice to the Recipient, deobligate all or a portion of the Grant. OHFA may, in its sole discretion, permit the Recipient to substitute another property upon good cause shown.

[Source: Amended at 10 Ok Reg 971, eff 1-29-93 (emergency); Amended at 10 Ok Reg 4057, eff 7-26-93; Amended at 21 Ok Reg 2295, eff 7-12-04]