Development of Affordable Housing

Effective March 1, 2000, the Authority may, notwithstanding any law, rule or regulation to the contrary, develop affordable housing within the As-Tumbo Subdivision on any lot that has not yet been conveyed to a buyer in accordance with the provisions of this Article, including: COL4122017 CH. 5 GUAM HOUSING AND URBAN RENEWAL AUTHORITY

(a)lots that have been assigned to an applicant, but for which the applicant has not entered into a contract of sale with the Authority; and

(b)lots that are subject to a contract of sale, where the buyer has defaulted on the contract or breached a provision thereof, or where the contract has been rescinded, cancelled or otherwise terminated.