(Repeal) Rules and Regulations of the Corporation Applicable to the Cooperative Housing Demonstration Program
825-1093 INACTIVE RULE
| Title | 825 | Housing and Mortgage Finance Corporation |
| Chapter | XXX | Old Regulations Which Were Not Assigned Chapter-Subchap-Part |
| Subchapter | XX | Old Regulations Which Were Not Assigned Chapter-Subchap-Part |
| Part | 1093 | (Repeal) Rules and Regulations of the Corporation Applicable to the Cooperative Housing Demonstration Program |
| Type of Filing | Repeal |
| Regulation Status | Inactive |
| Effective | 05/06/2015 |
Regulation Authority:
R.I.G.L. 42-55-5(5)
Purpose and Reason:
The purpose of this activity is to repeal an obsolete and potentially duplicative rule. The Rule, first enacted in the 1990s, was originally intended to describe a pilot program for stimulating the development of affordable housing in Rhode Island by providing financial assistance to limited equity cooperative housing sponsors and their members. Since then, Rhode Island Housing has chosen to pursue its objectives through other financing initiatives, and has not operated the Cooperative Housing Demonstration Program in more than ten years. Furthermore, there are no plans to reinstate the program in the future. As a result, the Rule is functionally obsolete. There are no substantive differences between the final rule and the rule as proposed.
