2005 Connecticut Code - Sec. 8-435. Review of site and budget of housing developments. Notice to municipalities of proposed housing developments. Administrative oversight charge. Inspection of reports, books and records. False statements.

      Sec. 8-435. Review of site and budget of housing developments. Notice to municipalities of proposed housing developments. Administrative oversight charge. Inspection of reports, books and records. False statements. (a) In accordance with regulations adopted pursuant to section 8-437, the commissioner shall review and approve the site, the estimated total development budget, including the nature and amount of financial assistance to be provided by the state, and the proposed initial operating budget of each housing development prior to providing financial assistance pursuant to section 8-433. The commissioner may review and approve any additional factors determined by the commissioner to be necessary or appropriate to the protection of the state's programmatic intent and financial interests.

      (b) Prior to providing financial assistance for any proposed housing development pursuant to section 8-433, the commissioner shall provide written notice describing the proposed housing development to the chief executive officer of the municipality in which the proposed housing development is to be located.

      (c) At least biennially, after financial assistance is provided with respect to a housing development pursuant to section 8-433, the commissioner shall review and approve the proposed operating budget, income limitations applicable to eligible households, other standards for resident eligibility, methods of resident selection, standards for continued resident occupancy, procedures for certifying annual household income, administrative and management procedures and rents or carrying charges, and may review and approve any additional factors determined by the commissioner to be necessary or appropriate to the protection of the state's programmatic intent and financial interests. Limited equity cooperatives receiving financial assistance pursuant to section 8-433 shall be self-managed except that the commissioner may require a limited equity cooperative to engage the services of a management company upon determination that such action is necessary to achieve the state's programmatic intent under sections 8-430 to 8-438, inclusive. The commissioner may establish terms and conditions pursuant to section 8-436 allowing residents to continue occupancy of units in housing developments that receive financial assistance pursuant to section 8-434 regardless of an increase in the annual household income of such residents. Housing developments that receive financial assistance pursuant to section 8-433 shall be managed so as to enable rents and carrying charges to be set or established at the lowest level consistent with the provision of habitable units and sound property management, taking into consideration the state's programmatic intent as determined by the commissioner. In accordance with regulations adopted pursuant to section 8-437 the operating budget of each housing development that receives financial assistance pursuant to section 8-433 shall identify income, from all available sources, sufficient to provide, as applicable, funds for: Debt service; administrative and management costs and expenses of the entity or entities managing the housing development; other operating costs and expenses; contributions towards reserves for repairs, maintenance, replacement, and vacancy and collection losses; and any other items determined by the commissioner to be necessary or appropriate to the protection of the state's programmatic intent and financial interest.

      (d) The commissioner may request, inspect and audit reports, books and records with respect to housing developments that receive financial assistance pursuant to section 8-433, including, without limitation, resident information and financial and operating statements, and shall have the power to investigate the accuracy and completeness of such reports, books and records.

      (e) The intentional submission of false information with respect to any housing development that receives financial assistance pursuant to section 8-433 shall subject the person making the submission to the penalty for making a false statement under section 53a-157b.

      (P.A. 93-309, S. 6, 29; May 25 Sp. Sess. P.A. 94-1, S. 13, 130; P.A. 96-180, S. 13, 166; 96-189, S. 2, 3.)

      History: P.A. 93-309 effective July 1, 1993; May 25 Sp. Sess. P.A. 94-1 amended Subsec. (c) by making technical changes, effective July 1, 1994; P.A. 96-180 amended Subsec. (f) (relettered to "(e)" by P.A. 96-189) by replacing Sec. 53a-157 with Sec. 53a-157b, effective June 3, 1996; P.A. 96-189 deleted former Subsec. (d) re administrative oversight charge and relettered remaining Subsecs. accordingly, effective July 1, 1996.