TITLE 47: HOUSING AND COMMUNITY DEVELOPMENT
CHAPTER II: ILLINOIS HOUSING DEVELOPMENT AUTHORITY
PART 360 AFFORDABLE HOUSING PROGRAM
SECTION 360.507 STANDARDS FOR APPROVAL OF CONVEYANCE
Section 360.507 Standards for Approval of Conveyance
In determining whether to approve and/or impose restrictions on the conveyance, assignment, leasing, mortgaging, pledging or other transfer of the Development or Single-Family Development, and the beneficial interest in and power of direction over the Trust, or any partnership interest or stock ownership interest in the beneficiary of the Trust, the Authority shall grant such approval, with any necessary restrictions, only if the Authority determines that such action will not have an adverse impact upon the financial stability of the Development or Single-Family Development.
(Source: Amended at 18 Ill. Reg. 8663, effective May 25, 1994)