Subpart K: Acquisition
This module provides guidance for program administrators, contractors, and compliance staff, and includes handouts that must be provided to assisted buyers. Program administrators are encouraged to make sure the right tools are provided to each of these participants and that they keep proper records.
Subpart K: Acquisition applies to any use of federal funds in support of the acquisition of residential property. When grantees or agencies provide assistance, which may include but not limited to down payment assistance, closing cost assistance, loan guarantees, PMI assistance, below market interest rates, or simply finance acquisition for eligible homebuyers to purchase a residential property, Subpart K: Acquisition will apply.
Although not typical for acquisition projects, if ongoing assistance is also provided, see Subpart K: LSSO.
If the assisted project includes acquisition and rehabilitation over $5,000, then the project must be screened for applicability of Subpart J: Rehabilitation.
Summary of LSHR Requirements for Acquisition
Different HUD activities have different requirements, this chart summarizes the ones for acquisition. Details on these requirements are found in this module.
| Activity | Requirement |
|---|---|
| Approach to Lead Hazard Evaluation and Reduction | Identify and stabilize deteriorated paint |
| Notification | Yes |
| Lead Hazard Evaluation | Visual Assessment |
| Lead Hazard Reduction | Paint Stabilization – Safe Work Practices and Clearance |
| Ongoing Maintenance | Yes (if ongoing federal financial assistance, see Subpart K: LSSO module) |
| Elevated Blood Lead Level (EBLL) Requirements | No |
| Options | Test deteriorated paint Use safe work practices only on lead-based paint (LBP) surfaces |