final rule implements the legislation that created a Mark-to-Market program through
which Section 8 rents for multifamily projects with HUD-insured or HUD-held mortgages
will be reduced.
rule (pdf file) dated March 22, 2000.
Multifamily Assisted Housing Reform and Affordability Act of 1997 (MAHRA)
was enacted to reduce the cost of federal housing assistance, enhance HUD's administration
of such assistance, and to ensure the continued affordability of units in certain
multifamily housing projects.
owners with rents greater than market may request to participate in the Mark-
to- Market program authorized by MAHRA. Contracts are renewed at existing rent
levels temporarily while the mortgage is being restructured.