§ 882.501 - Distribution of funds and processing of PHA applications.

(a) Distribution of funds. Contract and budget authority will be assigned to each HUD Field Office pursuant to 24 CFR part 791. The HUD Field Office will invite applications for the Moderate Rehabilitation Program from PHAs from areas where the Field Office has determined that the Moderate Rehabilitation Program would be appropriate.

(b) Processing of PHA applications. PHAs will submit an application for the Moderate Rehabilitation Program to the HUD Field Office. The application must contain all the information and documentation required by HUD. Should the available contract authority not be sufficient to fund all approvable applications, HUD will rank the applications based on its assessment of which applications have the best combination of the following:

(1) The demonstrated capacity of the PHA or its contractor(s) to provide the rehabilitation technical assistance to Owners required under the Program;

(2) The availability of financing resources, both assisted and unassisted, as demonstrated through statements from financing agencies (for example, local Community Development or State agency rehabilitation loan programs);

(3) The PHA's experience with the Section 8 Existing Housing Program or the PHA's overall administrative capability;

(4) The potential of achieving, as expeditiously as possible, the rehabilitation and leasing of housing units under this Subpart; and

(5) The overall feasibility of the proposed program.