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Model Documents for Mixed-Finance Transactions

The Department of Housing and Urban Development (HUD) has developed a set of Model Documents to facilitate the preparation and review of certain evidentiary materials required for mixed-finance transactions pursuant to 24 CFR 941 Subpart F. HUD created these documents with input from a public meeting held in January 2003 with affordable housing practitioners and written comments following the meeting.

Some documents became prescribed HUD Forms with standard provisions and were subject to formal clearance and reporting burden restrictions imposed by OMB. The rest remain as models with HUD required provisions identified clearly from negotiable business terms. The final set is comprised of several documents for which we will only provide statutory and/or regulatory provisions that must be included.

Documents

Required Documents:

These documents have not been substantively modified since the original posting. Only minor corrections have been made. Each will be revised based on all comments received and recirculated through the formal HUD clearance process.

 -   Declaration of Restrictive Covenants (standard) (MS-Word, 49 KB)
 -   Declaration of Restrictive Covenants (op sub only) (MS-Word, 49 KB)
 -   PHA Certifications and Assurances (MS-Word, 31 KB)
 -   Certification for Mixed Income Documents (MS-Word, 33 KB)

Model documents with required provisions:

 -   Opinion of Counsel (MS-Word, 44 KB)
 -   Regulatory and Operating Agreement (all public housing)
(MS-Word, 114 KB)
 -   Regulatory and Operating Agreement (mixed income)
(MS-Word, 121 KB)
 -   Performance and Completion Guaranty (MS-Word, 53 KB)

Required provisions:

 -   Management Agreement (terms will continue to be subject to Cost Control and Safe Harbor Standards) (MS-Word, 58 KB)
 -   Development Agreement (terms will continue to be subject to Cost Control and Safe Harbor Standards) (MS-Word, 71 KB)
 -   Limited Partnership (owner) Provisions (MS-Word, 34 KB)
 -   Ground Lease (MS-Word, 67 KB)

Documents for which no model or required form will be provided:

 -   Closing Instruction Letter (dry closing)
 -   Closing Instruction Letter (wet closing)
 -   Development Services Agreement
 -   Predevelopment Funds Agreement Subordination Agreement