Multiple family housing. Sales steps will be the same as for program MFH property as provided in § 1955.114(b) of this subpart except that sales must be for cash or on NP terms as set forth in § 1955.118 of this subpart. Additionally, if cash offers are re- ceived, they will be given first pref- erence by drawing from the cash offers only. If the State Director determines an auction sale should be used to sell NP MFH property, authority to use that method of sale must be requested from the Assistant Administrator, Housing. Inventory files, including in- formation on the acquisition, mar- keting efforts made, management of the property, other pertinent informa- tion, a memorandum covering the facts of the case, and recommendations of the State Director must be submitted for review. If the housing is sold out of the Rural Development program as NP property, the closing of the sale may not take place until tenants have re- ceived all notifications and benefits af- forded to tenants in prepaying projects in accordance with 7 CFR part 3560, subpart N. [53 FR 27833, July 25, 1988, as amended at 58 FR 38928, July 21, 1993; 58 FR 52652, Oct. 12, 1993; 67 FR 78329, Dec. 24, 2002; 69 FR 69106, Nov. 26, 2004] § 1955.116 Requirements for sale of property not meeting decent, safe and sanitary (DSS) standards (hous- ing). For real property (exclusive of im- provements) which is unsafe, refer to § 1955.137(e) of this subpart for further guidance. For all other housing inven- tory property which does not meet de- cent, safe and sanitary (DSS) stand- ards, the provisions of this section apply.
Multiple family housing. The sale price will be established in accordance with § 1955.113 of this subpart. Notifica- tion of known interested prospective RHS, RBS, RUS, FSA, USDA § 1955.114 offerors and advertising should be han- dled as set forth in § 1955.146 of this sub- part. The sale information will include a sale price, any restrictive-use provi- sions the project will be subject to and made part of the title, a date/time/loca- tion when offers will be drawn, and re- quire all offerors to submit an applica- tion package comparable to that re- quired by the respective loan program, which will be reviewed by the State Xx- xxxxxx or designee. The sale/time/loca- tion will be established by the District Director and will allow adequate time for advertising and review of applica- tions to determine eligibility in ac- cordance with MFH program require- ments. Offerors whose applications are rejected by by Rural Development will be notified in writing by the approval official, and for program applicants, given appeal rights in accordance with subpart B of part 1900 of this chapter. If an application is rejected, the sale will continue regardless of whether the re- jected applicant appeals the adverse decision. Property will not be held pending the outcome of an appeal. An offeror may withdraw an offer prior to the sale date, but not on the sale date. All offers from applicants determined eligible for the type loan being offered will be considered. The District Direc- tor, or delegate, and one other Rural Development employee will conduct the drawing at which time the public may be present. Offers will be placed in a receptacle and drawn sequentially. Drawn offers will be numbered and those drawn after the first drawn will be held as back-up offers, unless the of- feror has indicated that the offer may not be held as back-up. Award will be made to the first offer drawn provided the offer is acceptable as to the terms and conditions set forth in the sale no- xxxx. The successful offeror will be no- tified immediately in writing by the approval official, return receipt re- quested, that the successful offeror’s offer has been accepted even if the suc- cessful offeror was present at the sale. The remaining offerors will each be no- tified by letter, return receipt re- quested, that their offer was not suc- cessful, but will be held as a back-up offer. The selection of the offeror was by lot and is therefore not appealable. If an unsuccessful offeror was not present at the sale and req...
