Chapter 3: City-Aided Limited Profit Housing Companies

§ 3-01 Sponsors and Publicity.

   (a)   Sponsorship of development. Applicants for sponsorship of a limited-profit housing company development shall furnish to the Department of Housing Preservation and Development, hereinafter referred to as "HPD",

      (1)   an application for approval of the site and sponsors,

      (2)   evidence of financial ability and other qualifications, and

      (3)   such other data or information as HPD shall require. Applications, financial data and information with respect to qualifications shall be in such form and substance as HPD shall, from time to time, require. All references herein to "housing company" shall be deemed to mean limited-profit housing company.

   (b)   Eligibility – letter of intent. In addition to other requirements, a person or organization shall be ineligible for final approval as a sponsor of a housing company development unless such person or organization complies with all of the policies of the HPD Office of Community Partnerships.

   (c)   Publicity by sponsor. No public announcements of any kind with respect to the housing company development shall be made by the sponsor without prior written formal approval of HPD.