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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 24 - Housing and Urban Development |
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Subtitle B - Regulations Relating to Housing and Urban Development |
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Chapter IV - Office of Housing and Office of Multifamily Housing Assistance Restructuring, Department of Housing and Urban Development |
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Part 401 - Multifamily Housing Mortgage and Housing Assistance Restructuring Program (Mark-to-Market) |
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Subpart D - Implementation of the Restructuring Plan After Closing |
§ 401.554 - Contract renewal and administration.
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§ 401.554 Contract renewal and administration.
HUD will offer to renew or extend section 8 contracts as provided in each Restructuring Plan, subject to the availability of appropriations and subject to the renewal authority available at the time of each contract expiration (§ 402. 5 of this chapter or another appropriate renewal authority). The offer will be made by HUD directly or through a PAE that has contracted with HUD to be a contract administrator for such contracts. HUD will offer to any PAE that is qualified to be the section 8 contract administrator the opportunity to serve as the section 8 contract administrator for a project restructured under a Restructuring Plan developed by the PAE under the Mark-to-Market Program. Qualifications will be determined under both statutory requirements and requirements issued by the appropriate office within HUD, depending on the type of section 8 assistance that is provided.
[65 FR 15485, Mar. 22, 2000, as amended at 65 FR 53901, Sept. 6, 2000; 89 FR 14590, Feb. 28, 2024]