Policy & Procedure For 12 Months Compliance Period
(Quiet Title & Immediate Acquisition Program)
The buyer is required to send in report of progress of development every 3 months (including pictures and permits requested).
14-day compliance check to make sure property is secured & maintained (no debris & grass cut)
30-day compliance check to make sure all permits and plans have been submitted to PEP. Reassure they are following development plan buyer submitted
6-month compliance check on progress of development.
If buyer is not started the development at all, the buyer needs to go before BLBA board explaining why have not started development and repurchase need to be discussed
Applying for extension need to be discussed if buyer doesn’t have half of development completed or will not be completed by compliance ending dated
9-month compliance check on progress of development
Applying for extension need to be discussed if buyer will not be completed by compliance ending dated
Final compliance check of development
Buyer needs to submit all permits and final/pass inspection from PEP
Walk through with buyer of properties with new builds or renovation
Picture will be taken of property
If not completed applying for extension need to be completed.
Failed Final Inspection
If buyer doesn’t pass final inspection will notify buy with letter of fail inspection
The buyer has 14 days to come into compliance for final inspection
If the buyer doesn’t comply the buyer needs to go before BLBA board explaining why refuse to be compliance and repurchase need to be discuss.
With current 12-month compliance period extension request will always be a part of Quiet Title & Immediate Acquisition Programs. Past analyses have shown it has taken each buyer longer than 12 months to complete development. This is considering buyer with all resources (finances, contract, and proper permits).
