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If your Project Rental Assistance Contract (PRAC) is due
for renewal you must submit a Budget-based rent increase (BBRI) request for
renewal of the Contract 120-days prior to the expiration date of the PRAC
Contract, according to HUD new PRAC outstanding instructions. HUD allows 150 day
submission. HUD restricts Contract renewals for only one-year terms year to
year.
HUD has published new outstanding guidance for HUD
Project Managers when processing owners’ requests for renewal of their PRAC
Contracts. HUD has limited renewal terms of Contracts to one-year terms from
year to year.
Through collaboration with your staff, I can assist you
in developing a proposed Working HUD Budget with your input and approval.
Subsequently, I will finalize the HUD BBRI Proposal with all required HUD forms,
documentation and mail you a complete package for your signature; including other HUD requirements that must accompany
the Proposal. If Tenants receive Utility Allowance you should start requesting
utility survey from the utility company, in compliance with HUD guidelines.
My clients have been granted substantial rent increases
to satisfy Revenue shortfalls and recovery of certain outstanding Payables. I
will work with your staff to create a proposed Budget based on my experience as
a former HUD Asset Manager, providing you with approaches you may not be aware
of.
I assisted one of
my client's Management Agent in renewing their PRAC Contract. Their project was
experiencing financial difficulties, payables were substantial and assets were
not adequate to put the project operation in the black.
I collaborated
with Management in preparing a HUD Budget Based Rent Increase (BBRI) for a 32%
rent increase. Surprisingly, the HUD Multifamily Field Office approved the
Budget. If any of your PRAC projects are experiencing financial difficulties I
will work with you to develop a proposed Budget.
Please contact me to discuss preparation of a Proposal.
Contact me, Alvin L. Sutherlin, Housing Consultant, Post Office Box 162, Mount
Rainier, MD 20712-0162
Voice: 301-277-3465
Office Address: 4104-29th Street, Mount Rainier, MD
20712-1820.
Go to
http://hud-consultant.com/References.html
to see my clients’ testimonies.
Contact
me by phone 301-277-3465 or by email at alvinl.sutherlin@verizon.net
and I can discuss the status of your project.
My Resume
Date Updated:
09/27/2023 03:40:48 AM
