H. B. 2861
(By Delegates Walters, Trump,
Kominar, Beach and Frich)
[Introduced February 4, 2003; referred to the
Committee on Government Organization then the Judiciary.]
A BILL to amend article fifteen, chapter sixteen of the code of
West Virginia, one thousand nine hundred thirty-one, as
amended, by adding thereto a new section, designated section
twenty-six, relating to authorizing local housing authorities
to authorize low-income housing residents to purchase dwelling
units within the housing project.
Be it enacted by the Legislature of West Virginia:
That article fifteen, chapter sixteen of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
twenty-six, to read as follows:
ARTICLE 15. STATE HOUSING LAW.
§16-15-26. Option to buy public housing.
(a) Each housing authority shall provide to those residents of
a project the opportunity to purchase dwelling units in the
project, provided that the resident:
(1) Is determined to be capable of assuming the
responsibilities of homeownership; and
(2) Complies with any additional requirements as the housing
authority may establish.
(b) Any resident meeting the requirements of this section may
purchase his or her dwelling unit directly from the housing
authority if the authority determines that the purchase will not
interfere with the rights of other residents residing in the
project or harm the efficient operation of the project. The
purchase of a dwelling unit by a resident shall include a fixed
percentage of the common elements of the project as determined by
the authority. The price for any purchase under the provisions of
this section may not be more than the fair market value of the
dwelling unit involved as determined by the authority and shall be
at a price that is affordable to low-income families.
(c) For the purpose of assisting any purchase by a resident
under this section, the authority involved may make a loan on the
security of the property involved to the purchasing resident at a rate of interest determined by the authority to be appropriate.
(d) If any resident purchases a dwelling unit before the
expiration of the promissory note period of Title III (HOPE) or
Section 5(H) of Title II of the United States Housing Act of 1937,
the purchaser shall pay the remaining balance according to the
terms of the outstanding promissory note.
(e) The housing authority involved shall provide the training,
technical assistance, and education as may be necessary to prepare
the resident organizations to undertake the management and
maintenance of the project and to prepare the residents for the
responsibility of homeownership.
NOTE: The purpose of this bill is to
authorize local housing
authorities to authorize low-income housing residents to purchase
dwelling units within the housing project.
This section is new; therefore, strike-throughs and
underscoring have been omitted.