Option Five – Renewal of Portfolio Re-engineering Demonstration or Preservation Projects

 

Overview

 

This option is for projects that entered into long-term Use Agreements under their respective programs. Owners can receive a multi-year contract not to exceed the lesser of 20 years or the remaining term of the recorded Use Agreement.

 

Eligibility Criteria

 

·   Preservation Projects primarily consist of Section 236 and 221d3 BMIR projects whose Owners entered into long-term Use Agreements with HUD under the Preservation Program.

 

·   Portfolio Re-engineering Demonstration (“Demo”) Program Project is a project that completed the Demo Program, as evidenced by a recorded Demo Program Use Agreement. If the Owner entered into the Demo Program but did not execute and record a Demo Program Use Agreement, it is not eligible for renewal under Option Five.

 

HUD Guidance

 

 

 

 

Submission Requirements

 

 

 

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