OPG 5.4 Subsidy Layering Certification - Standard M2M Transactio

Mark-to-Market
Subsidy Layering Certification - Standard M2M Transaction
Project Name:

Form 5.4

_________________________________________

The Restructuring Plan for the above referenced project was completed in accordance with
the program standards contained in the M2M Operating Procedures Guide (OPG). The
plan therefore meets the program requirement that the forms of assistance provided are
the minimum needed to ensure the long-term viability of the assisted housing. The
restructuring plan includes the following elements of financial assistance:
A new FHA insured mortgage: Section

223(a)(7),

221(d)(4),

223(f)

Reuse of Interest Reduction Payments available from the S236 mortgage.
A new non-FHA insured mortgage. Describe: _________________________
A Partial Payment of Claim
An extension of the existing project based Section 8 assistance.
Other Assistance: Specify nature and amount: ________________________
Pursuant to the subsidy layering review requirements contained in 24CFR401.481, the
(PAE) has performed a subsidy layering review and has determined that the government
assistance involved in the standard debt restructuring referenced above is not more than is
necessary to permit the project to house tenants with an income mix comparable to the
income mix of the project before the Restructuring Plan is implemented. The (PAE) ,
therefore, certifies that the Restructuring Plan developed for the project meets HUD’s
subsidy layering requirements.
Name of Official:

_____________________

Title: _________________

Signature of Official:

_____________________

Date: _________________

January 2005