Daily Rules, Proposed Rules, and Notices of the Federal Government
The Section 8 Renewal Policy Guide implements Section 524 of the Multifamily Housing Reform and Affordability Act of 1997 (MAHRA) (Pub. L. 105-65, enacted on October 27, 1997), which governs how expiring Section 8 project-based assistance contracts are renewed. The Section 8 contract renewal process is an essential component to preserving low income rental housing affordability and availability, while reducing long-term costs of project-based assistance. Project-based assistance contracts are renewed under MAHRA to protect tenants and preserve affordable housing for low and very low-income tenants. The Section 8 contract renewal process will provide housing protection for the low and very low-income tenants living in various United States communities. The Section 8 Renewal Policy Guide sets forth six renewal options from which a project owner may choose when renewing their expiring Section 8 contract: Option One--Mark-Up-To-Market; Option Two--Other Contract Renewal with Current Rents at or Below Comparable Market Rents; Option Three--Referral to the Office of Affordable Preservation (OAHP); Option Four--Renewal of Projects Exempted From OAHP; Option Five--Renewal of Portfolio Reengineering Demonstration or Preservation Projects; Option Six--Opt Outs. Owners should select one of six options which are applicable to their project and should submit contract renewal on an annual basis to renew Contract.
This notice informs the public that the Department of Housing and Urban Development has submitted to OMB a request for approval of the Information collection described below. This notice is soliciting comments from members of the public and affecting agencies concerning the proposed collection of information to: (1) Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (2) Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information; (3) Enhance the quality, utility, and clarity of the information to be collected; and (4) Minimize the burden of the collection of information on those who are to respond; including through the use of appropriate automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses.
This Notice also lists the Following Information:
Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 35, as amended.