1984-02 HA - Laserfiche WebLink

Home Browse Search

I- f I - j I - . . e. " (b) Term of lJllt and Contract. The term of eJIIÞlease shall be for not less than one year nor more than three years, but the lease may contain a provision permitting termination upon 30 days advance written notice by either party. The term of each Contract shall be for the term of the lease, provided that if a Family continues in occupancy after the expiration of the term on the same terms and conditions as the original lease (or changes thereto which have been approved by the PHA and incorporated in the Contract where appropriate), the Contract shall continue in effect for the duration of such tenancy subject to the limitation in the next sentence. Any renewal of the Contract and lease term, and any continuation of tenancy beyond the term, shall in no case extend beyond the term of this ACC. 1.4 Annual Contribution. (a) Notwithstanding any other provisions of this ACC (other than paragraph (c) of this Section) or any provisions of any other contraLt between the Government and the PHA, the Government shall not be obligated to make any annual Contribution or any other payment with respect to any Fiscal Year in excess of the amount stated in Section 1.1(c). (b) Subject to the maximum dollar limitation in paragraph (a) of this Section, the Government shall pay for each Fiscal Year an Annual Contribution to the PHAin respect to the Program in an amount equal to the sum of the following (subject to reduction by the amount of any Program Receipts other than Annual Contributions, which Receipts shall be available for Program Expenditures): (1) The amount Fiscal Year (see Section 1.5) in Section 1.2, of housing assistance payments payable during the by the PHA pursuant-to the Contract, as aúthorized (2) The allowance, in the amount approved by the Government, for preliminary costs of administration. (3) The allowance,in the amount approved by the Government, for regular costs of administration, including costs of Government-required audits of Owners and the PHA. (c) (1) An ACC reserve account wi 11 be established and maintained by the Government, as a specifically identified and segregated account, in an amount as determined by the Government consistent with its responsibilities under section 8(c)(6) of the Act. To the extent funds are available in said account, the Annual Contribution for any Fiscal Year may exceed the maximum amount stated in paragraph (a) of thIS Section by such amount, if any, as may be required for increases reflected in the estimates of required Annual . Contribution applicable to such Fiscal Year as approved by the Government in accordance with Section 2.11 below. (2) The Government will take such additional steps authorized by section 8(c)(6) of the Act as may be necessary to assure availability of funds to cover increases in housing assistance payments on a timely basis as a result of increases in Contract Rents or decreases in Family Incomes. (d) The Government will make periodic payments on account of each Annual Contribution upon requisition therefor by the PHA in the form prescribed by the Government. Each requisition shall include certifications by the PHA that housing assistance payments have been or will be made only: (1) In accordance with the provisions of the Contract~¡ and to be prior (2) With respect to units which the PHA has inspected or caused inspected, pursuant to Section 2.4 of Part II of this ACC, within one year to the making of such housing assistance payments. (e) Following the end of each Fiscal Year, the PHA shall promptly pay to the Government, unless other disposition is approved by the Government, the amount, if any, by which the total amount of the periodic payments during the Fiscal Year exceeds the total amount of the Annual Contribution payable for such Fiscal Year in accordance with this Section. - 2 - HUD-52520B (5-76) . ¿;