Form HUD 9624 HUD 9624 Contract Renewal Request Form

Multifamily Housing Mortgage and Housing Assistance Restructuring Program (Mark to Market)

HUD-9624

Multifamily Housing Mortgage and Housing Assistance Restructuring Program (Mark to Market)

OMB: 2502-0533

⚠️ Notice: This form may be outdated. More recent filings and information on OMB 2502-0533 can be found here:

2017-12-22 - Extension without change of a currently approved collection

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Contract Renewal
Request Form
Multifamily Section 8 Contracts

U.S. Department of Housing OMB No. 2502-0587
and Urban Development
(Exp, 04/30/2017 )
Office of Housing

Public reporting burden for this collection of information is estimated to average 1 hour per response, including the time for reviewing instructions, searching existing
data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This information is required to obtain benefits.
HUD may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number.
Title V of the Departments of Veterans Affairs and Housing and Urban Development and Independent Agencies Appropriations Act of 1988 (P.L. 106-65, 111 Stat.
1384) authorizes the FHA Multifamily Housing Mortgage and Housing Assistance Restructuring Program. HUD implemented a statutory permanent program directed
at FHA-insured multifamily projects that have project-based Section 8 contracts with above-market rents. The information collection is used to determine criteria
eligibility of FHA-insured multifamily properties for participation in the Mark to Market program and the terms on which participation should occur. The purpose of the
program is to preserve low-income rental housing affordability while reducing the long-term costs of Federal rental assistance. While no assurances of confidentiality
are pledged to respondents, HUD generally discloses this data only in response to a Freedom of Information request.

Cover Sheet
PROJECT NAME
PROJECT ADDRESS
PROJECT OWNER
FHA PROJECT NO.:
TOTAL UNITS IN PROJECT:

TOTAL SECTION 8 UNITS IN PROJECT:

DATE OF SUBMISSION:

DATE RECEIVED BY HUD:

Section 8 contracts and stages in the project:
Section 8 Contract
Number

Stage Number
(if applicable)

Combine
(Yes?)

#
Units

Expiration
Date

Renew
(Yes?)

form HUD-9624 (7/2008)

I hereby elect to renew the above-indicated contracts under the following option (Check the
appropriate box(es) below and provide the corresponding worksheet(s)):
This is an

Initial

Subsequent

Renewal of a MAHRA contract.

OPTION ONE - Request Renewal Under Mark-Up-To-Market Procedures
Option One A Entitlement Mark-Up-To-Market
Option One B Discretionary Authority
I hereby request a contract renewal for a _____-year term. (A five-year minimum term)
OPTION TWO - Request Renewal With Rents At or Below Comparable Market Rents And
Without Restructuring
I hereby request a contract renewal for a _____-year term. (A maximum 20-year term)
OPTION THREE - Request Referral to OAHP for: Choose One
OPTION THREE-A - Reduction of Section 8 Rents to Comparable Market Rents without
Restructuring (Lite)
OPTION THREE-B - Restructure of the mortgage and reduction of Section 8 Rents to
Comparable Market Rents (Full)
OPTION FOUR - Request Renewal of the Contract for Projects Exempted from OAHP
I hereby request a contract renewal for a _______-year term.
OPTION FIVE - Portfolio Reengineering Demonstration and Preservation Contract Renewals
I request a contract renewal of my Demonstration Program Contract.
(Based on Use Agreement)
Mortgage Restructuring Demonstration Use Agreement
Budget Based Without Mortgage Restructuring Demonstration Use Agreement
I request a contract renewal of my Preservation Program Contract.
I hereby request a contract renewal for a _______-year term. (The term may not exceed
the remaining term of the recorded Use Agreement.)
OPTION SIX - Opt-Out of the Section 8 Contract

Owner’s signature: ___________________________________Date: _______

form HUD-9624 (7/2008)

RENEWAL WORKSHEET FOR OPTION ONE
Requesting a Contract Renewal Under the Mark-Up-To-Market Procedure
I hereby request a renewal of my contract under the Mark-Up-To-Market procedures. I have
attached a Rent Comparability Study (RCS) and completed the “Initial Eligibility Worksheet”
for the Section 8 Contract(s) eligible under this Option.
Please select one of the following:
Option One A
I request Option One A, based on the RCS and the Initial Eligibility Worksheet; the comparable
Market Rent Potential is at or above 100% of the published Fair Market Rents (FMRs).
The property does not have any low or moderate-income use restrictions that I cannot
unilaterally eliminate.
Option One B
I request Option One B of the Mark-Up-To-Market eligibility requirements because (Please
select the following statements that apply)
The project has a high percentage (>50%) of units rented to elderly, disabled, or large
families.
The project is located in a low-vacancy area (<3%) where tenant-based assistance is
difficult to be used and there is a lack of comparable rental housing; and/or
The project is a high priority for the local community as the attached documentation
of State or local funds demonstrates.
I hereby certify that:
The property’s most recent REAC score is 60 or above and there are no uncorrected Exigent
Health and Safety (EHS) violations; and
Neither I, nor any of my affiliates, are suspended or debarred, and/or requesting a contract
renewal subject to HUD approval; and
This information is true and complete.

Project Name ___________________________________________________________
Owner’s Name___________________________________________________________
Owner’s Signature_________________________________________Date________________
Warning: Any person who knowingly presents a false, fictitious, or fraudulent statement or claim in a matter within
the jurisdiction of the U.S. Department of Housing and Urban Development is subject to criminal penalties, civil
liability, and administrative sanctions, including but not limited to: (i) fines and imprisonment under 18 U.S.C. §§
287, 1001, 1010 and 1012; (ii) civil penalties and damages under 31 U.S.C. § 3729; and (iii) administrative
sanctions, claims, and penalties under 24 C.F.R parts 24, 28 and 30.

form HUD-9624 (7/2008)

RENEWAL WORKSHEET FOR OPTION TWO
Requesting A Contract Renewal At or Below Comparable Market Rent

I hereby request an INITIAL RENEWAL of my contract. I have attached a Rent
Comparability Study (RCS) and the OCAF Adjustment worksheet. The comparison chart
below reflects the results of the study and compares them to the expiring Section 8 units in my
project.
COMPARISON CHART
(I)

(II)

(III)

(IV)

(V)

UNIT TYPE AND
CONTRACT/ STAGE
NUMBER

# OF
UNITS

CURRENT
SECTION 8
CONTRACT
RENTS

COMPS
ESTIMATED
SUBJECT
MARKET RENTS

CURRENT
SECTION 8
RENT POTENTIAL
(II X III)

(VI)
COMPS
ESTIMATED
SUBJECT MARKET
RENT POTENTIAL
(II X IV)

TOTAL

For Option Two, the Total of Column V must be less than
The total of Column VI. * If the total of Column VI is greater than the total of
Column V the project is not eligible to renew under Option Two.

form HUD-9624 (7/2008)

Please choose from the following four choices for Rent Adjustments if the project’s current rent
potential is less than or equal to the market rent potential of the comparable market rents
I understand that the initial renewal rents will be set at current rent adjusted by OCAF but not
to exceed comparable market rents. I am submitting the required OCAF calculation
worksheet.
OR
I am submitting an attached budget that reflects the projected costs for the first 12 months
covered by the renewal contract. I understand that the increase cannot take the rents above
the comparable market rents. I have abided by the requirements in 24 CFR 245 regarding
tenant notification of a proposed rent increase; and the attached budget and rent schedule was
available to tenants upon their request.
OR
I am submitting an attached budget to request a budget-based rent increase for capital repairs,
not to exceed market. The ownership entity is an eligible nonprofit and meets all of the
requirements as defined in Chapter 15 of Section 8 Renewal Policy Guide; the ownership
agrees to accept a 20-year recorded Use Agreement. I have abided by the requirements in 24
CFR 245 regarding tenant notification of a proposed rent increase; and the attached budget
and rent schedule was available to tenants upon their request.
OR
I am submitted an attached budget and am requesting that HUD use its discretionary
authority to mark rents up to budget to facilitate a change in ownership to an eligible
nonprofit as defined in Chapter 15 of the Section 8 Renewal Guide. The nonprofit owner is
not an affiliated entity and the ownership agrees to accept a 20-year recorded Use
Agreement.
I hereby certify that: (Check the following)
Neither I, nor any of my affiliates, are suspended or debarred, OR
I, or my affiliates, are suspended or debarred and are requesting a contract renewal subject to
HUD approval; and
This information is true and complete.

form HUD-9624 (7/2008)

RENEWAL WORKSHEET FOR OPTION TWO
Requesting Subsequent Renewal of Contract At or Below Comparable Market Rent
I hereby request a SUBSEQUENT RENEWAL of my Section 524 contract without restructuring and
(Please select one of the following):

My Rent Comparability Study is less than five years old. I request that the contract rents be adjusted
by the currently published OCAF.



The date of my Rent Comparability study is _____________________.
I am submitting the OCAF Adjustment Worksheet (Form HUD 9625).

My Rent Comparability Study is less than five years old. I request a budget-based rent adjustment.





The date of my Rent Comparability Study is _______________________.
I am submitting an attached budget, which reflects the projected costs for the first 12
months covered by the renewal contract.
I have abided by the requirements in 24 CFR 245 regarding tenant notification of a
proposed rent increase.
The attached budget and rent schedule was available to tenants upon their request.

My Rent Comparability Study is five years old. I request that the contract rents be adjusted by the
currently published OCAF.


I am submitting a new Rent Comparability Study.

New Comparable Market Rent Potential ______________________________
Comparable Rent Potential from original RCS____________________________
Year

OCAF
(I)

Prior Year Adjusted Rent Adjusted Rent potential
Potential (I x III)
(III)

OCAF year __ *
OCAF year __
OCAF year __
OCAF year __
New Comparable Market Rent Potential________________________________
Rent Potential Based on Attached Budget ____________________________
* Use the Comparable Rent Potential from original RCS (for Column 2) to find the Adjusted Rent
Potential.



I am submitting the comparison chart from the Option Two Initial Renewal Request that
reflects the results of the study and compares them to the expiring Section 8 units in my
project.
I am submitting the OCAF Adjustment Worksheet (Form HUD 9625).

form HUD-9624 (7/2008)

I request a budget-based rent increase for capital repairs, not to exceed market.



The ownership entity is an eligible nonprofit and meets all of the requirements outlined in
Chapter 15 of the Section 8 Renewal Guide.
The ownership entity agrees to accept a 20-year recorded Use Agreement. For example,
if the owner has a 20-year agreement; the term must be extended for an additional 20
years.

My Rent Comparability Study is five years old. I request a budget-based rent adjustment.






I am submitting a new Rent Comparability Study.
I am submitting an attached budget, which reflects the projected costs for the first 12
months.
I have abided by the requirements in 24 CFR 245 regarding tenant notification of a
proposed rent increase
The attached budget and rent schedule was available to tenants upon their request.
I am submitting the OCAF Adjustment Worksheet (Form HUD 9625).

I hereby certify that:
Neither I, nor any of my affiliates, are suspended or debarred OR
I, or my affiliates, are suspended or debarred and are requesting a contract renewal subject to HUD
approval: AND
This information is true and complete.

form HUD-9624 (7/2008)

RENEWAL WORKSHEET FOR OPTION THREE-A
Requesting Referral to OAHP
I hereby elect to participate in the Mark-To-Market program and request a renewal of the Section 8
contract(s) shown on the attached Cover Sheet):
Option 3A- Based on the RCS, the current contract rent potential of the project is greater than the
market rent potential of the comparable market rents. I would like a contract renewal at rents that do not
exceed the comparable market rents, without a restructuring of the mortgage (OAHP-Lite);
I understand that I will receive an Interim Lite contract renewal at current rents while my
renewal request is being processed.
I understand that an Interim Lite contract renewal does not establish a binding commitment
for the purposes of Section 579(b) of the Multifamily Assisted Housing Reform and
Affordability Act of 1997 (Title V of Public Law No. 105-65, October 27, 1997, 111 Stat.
1384ff), as amended (MAHRA). As a consequence, I understand that, upon the repeal of certain
provisions of MAHRA on September 30, 2011, neither the Owner nor the Project will maintain
eligibility for debt restructuring under MAHRA after October 1, 2011.
I hereby certify that:
The project rents exceed comparable market rents: AND
The project currently has a HUD-insured (or HUD-held) mortgage; AND
Neither I, nor any of my affiliates, are suspended or debarred, OR I, or my affiliates are suspended or
debarred and are requesting a contract renewal subject to HUD approval; AND
This information is true and complete.
Project Name ___________________________________________________________
Owner’s Name___________________________________________________________
Owner’s Signature_________________________________________Date________________
Name and Title of Authorized Representative of HUD
(Print)____________________________________________________________________________
Signature________________________________________________Date:_____________________
Warning: Any person who knowingly presents a false, fictitious, or fraudulent statement or claim in a matter within
the jurisdiction of the U.S. Department of Housing and Urban Development is subject to criminal penalties, civil
liability, and administrative sanctions, including but not limited to: (i) fines and imprisonment under 18 U.S.C. §§
287, 1001, 1010 and 1012; (ii) civil penalties and damages under 31 U.S.C. § 3729; and (iii) administrative
sanctions, claims, and penalties under 24 C.F.R parts 24, 28 and 30.

form HUD-9624 (7/2008)

RENEWAL WORKSHEET FOR OPTION THREE-B
Requesting Referral to OAHP
I hereby elect to participate in the Mark-To-Market program and request a renewal of the Section 8
contract(s) shown on the attached Cover Sheet (Select one of the following Options):
Option 3B – I believe that the current contract rents are greater than the market rent potential of the
comparable market rents. I would like to restructure the FHA insured or HUD-held insured mortgage
and reduce the Section 8 contract rents to market (Mortgage Restructuring).
I understand that I will receive an Interim Full contract renewal at current rents while my
project goes through the restructuring process if this Renewal Worksheet for Option 3B is
accepted by HUD as specified above, subject to Appropriations.
I hereby certify that:
The project rents exceed comparable market rents: AND
The project currently has a HUD-insured (or HUD-held) mortgage; AND
Neither I, nor any of my affiliates, are suspended or debarred, OR I, or my affiliates are suspended or
debarred and are requesting a contract renewal subject to HUD approval; AND
This information is true and complete.
Project Name ___________________________________________________________
Owner’s Name___________________________________________________________
Owner’s Signature_________________________________________Date________________
Name and Title of Authorized Representative of HUD
(Print)____________________________________________________________________________
Signature________________________________________________Date:_____________________
Warning: Any person who knowingly presents a false, fictitious, or fraudulent statement or claim in a matter within
the jurisdiction of the U.S. Department of Housing and Urban Development is subject to criminal penalties, civil
liability, and administrative sanctions, including but not limited to: (i) fines and imprisonment under 18 U.S.C. §§
287, 1001, 1010 and 1012; (ii) civil penalties and damages under 31 U.S.C. § 3729; and (iii) administrative
sanctions, claims, and penalties under 24 C.F.R parts 24, 28 and 30.

form HUD-9624 (7/2008)

RENEWAL WORKSHEET FOR OPTION FOUR
Request Renewal of Contract for Projects Exempted From OAHP
I hereby request a RENEWAL of my contract under Option Four and I am submitting an OCAF Worksheet and a
budget calculation to determine which adjustments meets the “lesser of” test. My project is eligible to renew under
this option because it falls into one of the following categories (Please select one of the following).
State or Local Government financing. I am submitting:




Copies of the original financing documents;
The underlying statutory authority which I believe conflicts with a Mark-To-Market restructuring plan;
And
My bond counsel’s opinion as to the conflict.

Section 202/8 and/or Section 515/8 Project; and/or a Section 202 loan refinanced pursuant to Section 811 of the American
Homeownership and Economic Opportunity Act of 2000
SRO Moderate Rehabilitation Project; OR
Section 512(2) of MAHRA
I am submitting a Rent Comparability Study that shows rents are at or below market.
Multifamily Housing Project not eligible under Section 512(2) of MAHRA, or
Risk Sharing Loan provided by qualified state or local housing finance agency.

I understand that at Renewal, the rent is set at the lesser of:
The Annual Adjusted Rent Potential of the Expiring Contracts
(based on the attached OCAF Worksheet), OR
The Section 8 Contract Rent Potential from the budget-based
rent determination (reflected in the attached budget)
AND
I have attached the completed OCAF Worksheet (Form HUD 9625):
I have included a budget and rent schedule completed in accordance with the requirements in HUD Handbook 4350.1.
I have abided by the requirements in 24 CFR 245 regarding tenant notification of a proposed rent increase. The
attached budget and rent schedule was available to tenants upon their request
I hereby certify that:
Neither I, nor any of my affiliates, are suspended or debarred OR
I, or my affiliates, are suspended or debarred and are requesting a contract renewal subject to HUD approval: AND
This information is true and complete.
Project Name ___________________________________________________________
Owner’s Name___________________________________________________________
Owner’s Signature_________________________________________Date________________
Warning: Any person who knowingly presents a false, fictitious, or fraudulent statement or claim in a matter within
the jurisdiction of the U.S. Department of Housing and Urban Development is subject to criminal penalties, civil
liability, and administrative sanctions, including but not limited to: (i) fines and imprisonment under 18 U.S.C. §§
287, 1001, 1010 and 1012; (ii) civil penalties and damages under 31 U.S.C. § 3729; and (iii) administrative
sanctions, claims, and penalties under 24 C.F.R parts 24, 28 and 30.

form HUD-9624 (7/2008)

RENEWAL WORKSHEET FOR OPTION FIVE
Request Renewal of Contract for Portfolio Reengineering Demonstration or
Preservation Projects
My project is a Portfolio Reengineering Demonstration Project. I hereby request a RENEWAL
of my contract under Option Five.
The project has a recorded Mortgage Restructuring Demo Program Use Agreement
with rents adjusted annually by the OCAF.
The project has a recorded Budget Based Without Mortgage Restructuring Demo
Program Use Agreement with rents adjusted annually by the OCAF. A RCS maybe
required at the end of each 5-year period; at which time rents will be adjusted to
comparable market rents.
I understand that the contract may be renewed as a multiyear contract with the term not to
exceed the number of years under the Demo Program Use Agreement.

My project is a Preservation Project (LIPHRA or ELIPHRA). I hereby request a RENEWAL of
my contract under Option Five in accordance with the approved Plan of Action. I understand that
the contract may be renewed as a multiyear contract with the term not to exceed 20 years or the
remaining term of the recorded Use Agreement.
I hereby certify that:
Neither I, nor any of my affiliates, are suspended or debarred OR
I, or my affiliates, are suspended or debarred and are requesting a contract renewal subject to HUD
approval: AND
This information is true and complete.
Project Name ___________________________________________________________
Owner’s Name___________________________________________________________
Owner’s Signature_________________________________________Date________________
Warning: Any person who knowingly presents a false, fictitious, or fraudulent statement or claim in a matter within
the jurisdiction of the U.S. Department of Housing and Urban Development is subject to criminal penalties, civil
liability, and administrative sanctions, including but not limited to: (i) fines and imprisonment under 18 U.S.C. §§
287, 1001, 1010 and 1012; (ii) civil penalties and damages under 31 U.S.C. § 3729; and (iii) administrative
sanctions, claims, and penalties under 24 C.F.R parts 24, 28 and 30.

form HUD-9624 (7/2008)

WORKSHEET FOR OPTION SIX
Notification of Non-Renewal of Contract
I hereby elect to OPT-OUT of the Section 8 program. I understand that notification of this opt-out is required to
be given to the Department of Housing and Urban Development 120 days prior to the expiration of the contract.
I hereby certify:
I provided the assisted tenants and HUD with a one-year written notification of the contract
expiration and our intention not to renew the contract as required by Section 8(c)(8) of the
United States Housing Act of 1937. This notification was provided on
___________________. If I elected to opt out while my project was being reviewed by
OAHP, I have or will provide a second, 120 day, notification to tenants. This notification
was provided on _________________. A copy of the notification letter(s) is (are) attached.
I am willing to execute a short-term renewal of my contract if HUD needs additional time to
provide the tenant-based assistance.
I am not willing to execute a short-term renewal of my contract if HUD needs additional time
to provide the tenant-based assistance.
I have submitted a copy of the written notification to the tenants, contract administrator if
applicable, and HUD of the contract expiration and our intention not to renew the contract
however; a full year has not elapsed. I agree to execute a contract renewal for a term that
will fulfill the entire one-year notification requirement.
I hereby certify that:
The property does not have any Use Agreement in effect; AND
I agree to honor the tenants’ right to remain at the property, provided that the PHA approves a rent
equal to the new rent charged for the unit. I agree not to terminate the tenancy of a tenant who
exercises their right to remain except for cause under State or local law.
This information is true and complete.
Project Name ___________________________________________________________
Owner’s Name___________________________________________________________
Owner’s Signature_________________________________________Date________________
Warning: Any person who knowingly presents a false, fictitious, or fraudulent statement or claim in a matter within
the jurisdiction of the U.S. Department of Housing and Urban Development is subject to criminal penalties, civil
liability, and administrative sanctions, including but not limited to: (i) fines and imprisonment under 18 U.S.C. §§
287, 1001, 1010 and 1012; (ii) civil penalties and damages under 31 U.S.C. § 3729; and (iii) administrative
sanctions, claims, and penalties under 24 C.F.R parts 24, 28 and 30.

form HUD-9624 (7/2008)

File Type	application/pdf
File Title	Contract Renewal
File Modified	2014-04-21
File Created	2010-06-07