04 - HAADMIN PLAN 2 - Laserfiche WebLink

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~ The number of contract units in each building, the location of each contract unit, the area of each contract unit, and the number of bedrooms and bathrooms in each contract unit; ~ Services, maintenance, and equipment to be supplied by the owner and included in the rent to owner; ~ Utilities available to the contract units, including a specification of utility services to be paid by the owner (included in rent) and utility services to be paid by the tenant; ~ Features provided to comply with program accessibility requirements of Section 504 of the Rehabilitation Act of 1973 and implementing regulations at 24 CFR part 8; ~ The HAP contract term; ~ The number of units in any project that will exceed the 25 percent per project cap, which will be set-aside for occupancy by qualifying families; and ~ The initial rent to owner for the first 12 months of the HAP contract term. Execution of the HAP Contract [24 CFR 983.204] SAHA may not enter into a HAP contract until each contract unit has been inspected and SAHA has determined that the unit complies with the Housing Quality Standards (HQS). For existing housing, the HAP contract must be executed promptly after SAHA selects the owner proposal and inspects the housing units. For newly constructed or rehabilitated housing the HAP contract must be executed after SAHA has inspected the completed units and has determined that the units have been completed in accordance with the agreement to enter into HAP, and the owner furnishes all required evidence of completion. For existing housing, the HAP contract will be executed within 14 days of SAHA determining that all units pass HQS. For rehabilitated or newly constructed housing, the HAP contract will be executed within 14 days of SAHA determining that the units have been completed in accordance with the agreement to enter into HAP, all units meet HQS, and the owner has submitted all required evidence of completion. Term of HAP Contract [FR Notice 11/24/08] SAHA may enter into a HAP contract with an owner for an initial term of no less than one year and no more than 15 years. The term of all PBV HAP contracts will be negotiated with the owner on a case-by-case basis. At any time before expiration of the HAP contract, SAHA may extend the term of the contract for an additional term of up to 15 years if SAHA determines an extension is appropriate to continue providing affordable housing for low-income families or to expand housing opportunities. Subsequent extensions are subject to the same limitations. All extensions must be on the form and subject to the conditions prescribed by HUD at the time of the extension. When determining whether or not to extend an expiring PBV contract, SAHA will consider several factors including, but not limited to: The cost of extending the contract and the amount of available budget authority; The condition of the contract units; iii29iio Page 17-14