Show all participants, not just those who the Lender or Applicant considers to be principals or Controlling Participants. HUD considers Tier 1 flags to be a significant long-term risk to HUD and warrant significant mitigation in new transactions. All organization charts submitted in connection with a Triggering Event are considered part of the application for HUD review and subject to the certifications stating that the application is true and complete. On August 10, 2015, HUD published in the Federal Register, a proposed rule that would revise HUD's regulations for reviewing the previous participation of Federal programs of certain participants seeking to take part in multifamily housing and healthcare programs administered by HUD's Office of Housing. endobj Inclusion of Applicability of Processing Guide in Regulations, Processing Guide for Previous Participation Reviews of Prospective Multifamily Housing and Healthcare Programs' Participants, Applicability of the Previous Participation Review, A. 5. 2. This Guide, which will be posted on HUD's Web site, will provide the details on procedures which commenters are seeking and which HUD submits is more appropriate for a process guide than for regulatory text. Relevant information about this document from Regulations.gov provides additional context. For publicly held companies, the chief executive officer (or equivalent position), the controlling shareholder (if any), and project manager(s) or other individual(s), if any, identified as must having day-to-day control over a Specified Capacity or Covered Project must file but the publicly held company shall otherwise treated as an individual without need for other individual shareholders to file certifications in their individual capacity or identify their social security or tax identification numbers. <> The appendix to this document provides the proposed Guide for which HUD is seeking public comment for a period of 30 days. on on These tools are designed to help you understand the official document There are two methods for submitting public comments. See Section B for a description of additional items the organization chart must include. The August 10, 2015, proposed rule proposed to clarify which individuals and entities will be reviewed, the purpose of the review, and the review to be undertaken. HUD may disapprove a Controlling Participant if HUD determines: (i) The Controlling Participant is materially restricted, including voluntarily, from doing business with HUD (other than the restrictions listed above) or any other Start Printed Page 30501department or agency of the federal government if the Commissioner determines that such restriction demonstrates a significant risk to proceeding with the Triggering Event; or (ii) HUD determines that the Controlling Participant's record of Previous Participation reveals significant risk to proceeding with the Triggering Event. 2. This repetition of headings to form internal navigation links See Section B for a description of what the organization chart must include. 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