NAHMA HUD Update: Renewal of Expiring Project Assistance Contracts (PACs)

October 28, 2016

HUD recently issued the following memo detailing instructions for renewing expiring Project Assistance Contracts for Section 202. This memo focuses on the period of October 1 through December 9, 2016 - or through the end of the most recent continuing resolution signed into law on September 29.

O/As and HUD may continue processing renewals for contracts expiring after December 9, but these contracts may not be signed until enactment of another appropriations bill by Congress to cover the remainder of fiscal year 2017. Owners must submit an operating budget for all projects with an expiring PAC, and must detail a request for increased project assistance.

The memo may be found on the NAHMA website here