Housing Cooperatives and Mutual Housing AssociationsJuly 31st, 2019
FiledJuly 31st, 2019These two forms of housing are not common to all areas of the United States. To determine whether or not a housing development qualifies for section 104(d) downpayment assistance under 24 CFR 42.350(e)(2), a displacing agency would need to review the “Subscription Agreement” which is the document used to sell a membership in a cooperative, or the “Membership Application” for the Mutual Housing Association, and determine whether the interest which is purchased qualifies as an interest in a housing cooperative or mutual housing association under state or local law. The definitions1 below are only intended to provide a general description of these forms of housing and are not intended to supersede definitions provided under State or local law.