Contract Renewal Request Form - Multifamily Section 8 Contracts Page 5
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12Please choose from the following four choices for Rent Adjustments if the project’s current rent
potential is less than or equal to the market rent potential of the comparable market rents
I understand that the initial renewal rents will be set at current rent adjusted by OCAF but not
to exceed comparable market rents. I am submitting the required OCAF calculation
worksheet.
OR
I am submitting an attached budget that reflects the projected costs for the first 12 months
covered by the renewal contract. I understand that the increase cannot take the rents above
the comparable market rents. I have abided by the requirements in 24 CFR 245 regarding
tenant notification of a proposed rent increase; and the attached budget and rent schedule was
available to tenants upon their request.
OR
I am submitting an attached budget to request a budget-based rent increase for capital repairs,
not to exceed market. The ownership entity is an eligible nonprofit and meets all of the
requirements as defined in Chapter 15 of Section 8 Renewal Policy Guide; the ownership
agrees to accept a 20-year recorded Use Agreement. I have abided by the requirements in 24
CFR 245 regarding tenant notification of a proposed rent increase; and the attached budget
and rent schedule was available to tenants upon their request.
OR
I am submitted an attached budget and am requesting that HUD use its discretionary
authority to mark rents up to budget to facilitate a change in ownership to an eligible
nonprofit as defined in Chapter 15 of the Section 8 Renewal Guide. The nonprofit owner is
not an affiliated entity and the ownership agrees to accept a 20-year recorded Use
Agreement.
I hereby certify that: (Check the following)
Neither I, nor any of my affiliates, are suspended or debarred, OR
I, or my affiliates, are suspended or debarred and are requesting a contract renewal subject to
HUD approval; and
This information is true and complete.
Project Name ___________________________________________________________
Owner’s Name___________________________________________________________
Owner’s Signature_________________________________________Date________________
Warning: Any person who knowingly presents a false, fictitious, or fraudulent statement or claim in a matter within
the jurisdiction of the U.S. Department of Housing and Urban Development is subject to criminal penalties, civil
liability, and administrative sanctions, including but not limited to: (i) fines and imprisonment under 18 U.S.C. §§
287, 1001, 1010 and 1012; (ii) civil penalties and damages under 31 U.S.C. § 3729; and (iii) administrative
sanctions, claims, and penalties under 24 C.F.R parts 24, 28 and 30.
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form HUD-9624 (7/2008)
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