Multifamily Housing

• Joint Multifamily/OAHP memorandum signed regarding Section 8 HAP Renewal and OAHP Referrals, May 5, 2005. (PDF Format)
   
• Joint Multifamily/OAHP memorandum signed regarding OCAF Clarification, March 21, 2005. (PDF Format)
   
• Joint Multifamily/OAHP memorandum signed regarding "Once Eligible, Always Eligible" language in the Extension Act, effective April 22, 2002. (PDF Format)
   
• HUD's Multifamily Housing Web Page on Section 8 Contracts and Performance Based Contract Administrators (PBCAs)
   
• FY 2012 Operating Cost Adjustment Factors (OCAFs), published October 26, 2011. (PDF Format)
   
• Section 8 Renewal Policy Guide Book (PDF Format)
   
• HUD's Multifamily Housing Web Page on Expiring Section 8 Contracts
   
• Fair Market Rents (FMR)
   
• Section 8 Income Limits

Multifamily Housing's Section 8 Renewal Policy Guide Book Attachments of Section 8 HAP Contracts

The contracts listed below are Mark-to-Market-specific Housing Assistance Payments Contracts of the Section 8 Renewal Policy Guide Book. They are in Microsoft Word format as fillable forms for the convenience of HUD authorized Contract Administrators and HUD field staff. Each contract is listed with the description of its use in the Mark-to-Market process.

1. Basic Renewal Contract (Att. 11) - MS Word

The Basic Renewal Contract is used for all short-term renewals, excluding those that receive short-term renewals using the OAHP Interim Renewal Contracts listed below. The Basic Renewal Contract is also used for OAHP Lites that have completed their rent restructurings. It should NOT be used for Mark-Up-to-Market (Option One) renewals.

2. Full Mark-to-Market Renewal Contract (Att. 16): MS Word Revised 3/15/2012

November 30, 2006: M2M Full HAP Contract given to a project which completes debt restructuring under M2M (Full Contract) and the Watch List Contract have been changed. Effective December 1, 2006, the new forms of both contracts as attached herein must be used. The Full Contract has been changed only with regard to exception rent projects. Owners of projects receiving exception rents are now required to notify HUD of the receipt of any post restructuring assistance such as tax credits or other types of subsidies. Upon notificiation that the project has received post restructuring assistance, HUD will review the underwriting for the project and determine if such assistance will decrease overall project expenses. If overall project expenses have decreased, HUD reserves the right to adjust contract rents accordingly. See Section 6.b(2)(c).

This contract should be used by owners who previously entered one of the two Interim Contracts discussed above and who have reached agreement with HUD on the terms of the debt restructuring. (Option Three)

3. Watch List Renewal Contract (Att.17): MS Word

Guidance on Monitoring OAHP Watch List Properties, September 2001: MS Word / PDF File

November 30, 2006: The Watch List Contract contained language stating that the contract would expire 30 days prior to the expiration of OAHP's restructuring authority under MAHRA. The revised Watch List Contract removes this requirement.

An OAHP contract for owners who: (i) previously entered into one of the two Interim Contracts; (ii) chose not to restructure or OAHP discontinued the restructuring process; and (iii) agree that they may need to change their mind and opt back into the M2M program. In this scenario, the Owner retains eligibility under the Mark-to-Market Program but they must make an election to opt back into the program at a later date. Through the execution of an Interim Full Renewal/Re-Entry contract, HUD and the Owner agree to simultaneously terminate the Watch List Contract and agree to proceed in good faith to work out the terms of and complete a Debt Restructuring.

4. Interim Full Mark-to-Market Contract (Att. 14): MS Word

The Interim (Full) Mark-to-Market Contract and the Renewal/Re-entry contract (previously Attachment 14 and 14a) have been revised and combined. The contract contains language making it suitable for replacement of as yet unexpired 524 Basic Renewal contract and original section 8 contracts when a binding commitment is necessary to complete a restructuring after restructuring authority sunsets in September 2006.

An interim/short-term OAHP renewal contract that should be used when owners are referred to OAHP for debt restructurings . Owners can make their own initial determinations that they probably will agree to restructure the debt (Option Three) or the PM/CA believe their rents are above market and can refer the project for debt restructuring. For owners initially were referred to OAHP for debt restructuring but who decide before the process is completed not to follow through with the restructure.- or for projects that OAHP has discontinued the restructuring process. The Renewal/Re-Entry contract continues the property's eligibility for debt restructuring in the event the owner decides to return to OAHP to complete the process.

5. Interim-Lite Renewal Contract (Att. 15): MS Word

   An interim short-term OAHP renewal contract. This contract is used when owners are referred to OAHP for rent restructurings. Owners can make their own initial determination that they probably will agree to restructure rents but not the debt. (Option Three) or the PM/CA believe their rents are above market and can refer the project for rent restructuring.

6. Mod Rehab Contract (Att. 18): MS Word

All Full closings of previously Mod Rehab projects should use this contract, unless it is an Out Year (OY ) deal. This HAP contract is significantly different from the regular M2M full renewal HAPs, in that instead of modifying certain provisions of the original (Mod Rehab) HAP contract, these projects will have an entirely new HAP contract executed at closing. For OY deals, the original HAP will remain in place and an OY Recapture Agreement will be signed. At maturity of the OY contract, this contract will then be used.