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Identifying PBV Units in the HAP ContractAre PBV units separately identified under the HAP Contract (e.g., unit 101 and 102) and, if so, can they be changed?
Yes, all PBV units are separately identified in the HAP Contract. After the signing of the HAP, the PHA may substitute units, but only in accordance with 24 CFR §983.206.
HUD Risk Share Closing DocumentsA PHA is planning to use HUD Risk Share in their loan and bond closing. Do they need to modify their documents to include any RAD specific language, or is the Use Agreement sufficient? Has there been experience with other HUD Risk Share participants?
HUD Field Counsel will determine what, if any, documents need to be modified as part of the closing process for a RAD conversion utilizing the HFA-FHA Risk Share program. HUD Field Counsel is typically assigned when the RCC is issued, so the PHA or their counsel should inquire at that time.