French General Code of Local Authorities
In forceWhen a local semi-public company whose purpose is the construction or management of social housing is faced with difficulties due to a serious and lasting imbalance in the property programmes referred to in article
L. 1523-5, the départements and communes may, alone or jointly, grant it exceptional subsidies for the implementation of recovery measures within the framework of an agreement signed with the latter which sets out the nature, amount and duration of the subsidies thus granted.
The deliberative assemblies of the local authorities vote on these grants in the light of a special report drawn up by the company on its social housing activity to which is appended a report from the auditor certifying that all the items presented are consistent with the current financial situation and that the forecast data are consistent with all the information available.
The deliberative assemblies are regularly informed, at least once a year, of the effective implementation of the recovery measures provided for.
