Overview

 

This option is for projects that entered into long-term Use Agreements under their respective programs. Owners can receive a multi-year contract not to exceed the lesser of 20 years or the remaining term of the recorded Use Agreement.

 

Eligibility Criteria

 

·   Preservation Projects primarily consist of Section 236 and 221d3 BMIR projects whose Owners entered into long-term Use Agreements with HUD under the Preservation Program.

 

·   Portfolio Re-engineering Demonstration (“Demo”) Program Project is a project that completed the Demo Program, as evidenced by a recorded Demo Program Use Agreement. If the Owner entered into the Demo Program but did not execute and record a Demo Program Use Agreement, it is not eligible for renewal under Option Five.

 

HUD Guidance

 

For complete guidance and information regarding Option Five please read Chapter 7 of the Section 8 Renewal Policy  guidebook.

 

 

Submission Requirements

 

·   Contract Renewal Request Form (Instructions)

·   One Year Tenant Notification Letter

·   OCAF Rent Adjustment Worksheet - HUD Form 9625 (PDF) (Excel) (Word) (Instructions)

·   Budget Based Rent Adjustment (if applicable)

·   Utility Allowance Analysis (if applicable)