OPG 4.7 Sample-Owners Adoption of the PAEs PCA Findings

OMB No. 2502-0533
(Exp, 12/31/2017)

Sample
Mark-to-Market
Owner’s Adoption Of The PAE’s PCA/Findings

Form 4.7

(DATE)
OWNER”S NAME AND ADDRESS)
Subject:

Project Name ______________________
Project No. _____________________

Dear: ____________________:
Pursuant to the requirements of the Multifamily Assisted Housing Reform Act
and its regulations found at 24CFR, Part 401.450, prior to the second tenant meeting, the
owner must evaluate the physical condition of the project and provide a report to us
outlining the necessary items required to bring the project to the standard outlined in
24CFR, Part 401.452. At this time you have not provided such a report to us for
evaluation. We have completed our own analysis of the project based on the Physical
Condition Analysis (PCA), dated _______. Copies of both the PCA and our findings are
attached for your review. You may adopt our findings based on the PCA in lieu of
conducting your own evaluation by executing the acknowledgment and endorsement in
the space provided below and returning this letter to us at
____(address)__________________ .
Sincerely,
(PAE)

OWNER’S ACKNOWLEDGMENT AND ENDORSEMENT
Date____________

________________________, OWNER of a multifamily housing development known as
_____________________, located at _______________________, having reviewed the
Physical Condition Analysis (PCA) dated _________ provided by my PAE and
accompanied by the PAE’s findings based on that analysis, hereby acknowledge, endorse
and adopt the PAE’s finding as my own assessment for the purposes of the Mark-toMarket Restructuring Plan.
____________________________

September 2004

Form 4.7, Page 1

Public reporting burden for this collection of information is estimated to average 0.5 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. The Office of Multifamily Housing,
Office of Recapitalization, 451 7th Street SW, Room 6230 Washington, DC 20410. 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.105-65, 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 8contracts with abovemarket 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.