OPG 5.4 Subsidy Layering Certification - Standard M2M Transactio

OMB No. 2502-0533
(Exp, 09/30/2014)

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

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 Affordable Housing Preservation 451 7th Street SW, Room 6216 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.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 projectbased Section 8contracts 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.