Can a property owned by a non-profit organization that applied for assistance in the set-aside undergo a change in ownership after application and remain eligible for the Rental program?
Yes. Previously, a property was not permitted to undergo a change of ownership and keep the benefit of a Rental program award unless the ownership changed after closing. However, nonprofits participating in the set aside may now undergo a change in ownership prior to closing and still remain eligible. The new ownership entity must be an IRS registered 501(c)(3) nonprofit organization registered to do business in the State of Louisiana.
Related Questions
- Can a property owned by a non-profit organization that applied for assistance in the set-aside undergo a change in ownership after application and remain eligible for the Rental program?
- If a PHA controls a non-profit development organization, does site control of a vacant property by said non-profit constitute site control for purposes of the HOPE VI application?
- How do I complete the Professional Services Questionnaire Ownership Interests section if my organization is a non-profit or public agency?
