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109.04.6-XII. Homeowner Rehabilitation.

AR ADC 109.04.6-XIIArkansas Administrative Code

West's Arkansas Administrative Code
Title 109. Development Finance Authority
Division 04. Multi-Family Housing
Rule 6. Compliance Monitoring Policies and Procedures Manual for the Home Program
Ark. Admin. Code 109.04.6-XII
109.04.6-XII. Homeowner Rehabilitation.
ADFA Compliance staff will look for the following:
1. Evidence that the property is the principal residence of the person assisted with HOME funds;
2. Annual inspection reports or other evidence the exterior of the property meets minimum Housing Quality Standards (HQS);
3. Evidence of annual payment of real estate taxes and homeowners insurance.
The amount of homeowners insurance must be sufficient to cover replacement of the structure Efforts to obtain copies of homeowners insurance policies and real estate tax receipts must include a minimum of two letters of request and one personal visit by the recipient or other designee. If these efforts are unsuccessful, ADFA reserves the right to take steps necessary to obtain the documents, up to and including recapture of funds or foreclosure.
Current with amendments received through December 15, 2023. Some sections may be more current, see credit for details.
Ark. Admin. Code 109.04.6-XII, AR ADC 109.04.6-XII
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