Staged Projects Clause Samples

Staged Projects. If the project is completed in stages, the term of the Contract must relate separately to the units in each stage. The total Contract term for the units in all stages, begin- ning with the effective date of the Con- tract for the first stage, may not ex- ceed the overall maximum term allow- able for any one unit under this sec- tion, plus two years.

Staged Projects. If a project is com- pleted in stages, the term of the Con- tract must relate separately to the units in each stage unless the Agency and the owner agree that only the units in the first stage will be assisted for the maximum term of the Contract. The total Contract term, for the units in all stages, beginning with the effec- tive date of the Contract for the first stage, may not exceed the overall max- imum term allowable for any one unit under this section, plus two years. [45 FR 56327, Aug. 22, 1980, as amended at 48 FR 12710, Mar. 28, 1983; 49 FR 17449, Apr. 24, 1984] (a) Maximum annual commitment. The maximum annual contribution that may be contracted for in the ACC is the total of the contract rents and util- ity allowances for all assisted units in the project, plus the HUD-approved fees, if any, for State Agency adminis- tration of the Contract. (See § 883.606) (b) Project Account. (1) A project ac- count will be established and main- tained by HUD as a specifically identi- fied and segregated account for each project. The account will be estab- lished out of the amounts by which the maximum annual commitment exceeds the amount actually paid out under the ACC each year. Payments will be made from this account for housing assist- ance payments (and fees for Agency admininstration, if appropriate) when needed to cover increases in contract rents or decreases in tenant rents and for other costs specifically approved by the Secretary. (2) Whenever a HUD-approved esti- mate of required payments under the ACC for a fiscal year exceeds the max- imum annual commitment and would cause the amount in the project ac- count to be less than 40 percent of the maximum, HUD will, within a reason- able period of time, take such addi- tional steps authorized by Section 8(c)(6) of the 1937 Act, as may be nec- ▇▇▇▇▇▇, to assure that payments under the ACC will be adequate to cover in- creases in contract rents and decreases in tenant rents. [45 FR 6889, Jan. 30, 1980, as amended at 61 FR 13593, Mar. 27, 1996] The provisions of 24 CFR 880.504, in- cluding subpart L of 24 CFR part 5 per- taining to the selection of tenants and occupancy requirements in cases where there is involved or claimed to be in- volved incidents of, or criminal activ- ity related to, domestic violence, dat- ing violence, or stalking apply, subject to the requirements of § 883.105. [73 FR 72342, Nov. 28, 2008] (a) The State Agency is responsible for administration of the Contract sub- ject to perio...