The following SPRAC and related program documents are available for download from this page:
- SPRAC Initial Notice (January 8, 2013)
- SPRAC Final Notice (July 3, 2013)
- Pending SPRAC contract documents
- Section 202 Prepayment Notice
For questions regarding any of the documents on this web page, please contact SPRAC@hud.gov. A HUD staff person will respond to your inquiry. Additional program information can be found on the SPRAC home page or in the Frequently Asked Questions Guide (FAQ).
SPRAC Final Notice
In Fiscal Year 2012, $16 million was made available for SPRAC funding. The SPRAC final Notice follows a January 8, 2013, advance Notice in which HUD presented and solicited public comment on the proposed eligibility and award criteria. This final Notice takes into consideration the public comments received in response to the January 8, 2013, solicitation.
SPRAC Contract Documents
The final versions of the SPRAC Contract documents are now available:
Section 202 Prepayment Notice
In order to qualify for a SPRAC award, Owner-Applicants who have received a Notification to Proceed letter from HUD must successfully apply for and receive permission from HUD to prepay the existing Section 202 direct loan. The prepayment application submission must meet the criteria of the SPRAC final Notice as well as the criteria specified under Housing Notice 2013-17: Updated Requirements for Prepayment and Refinance of Section 202 Direct Loans. The Section 202 Prepayment Use Agreement is now available.