On April 3, HUD’s Office of Multifamily Housing Programs issued Notice H 2015-03, superseding Notice H 2014-14 (see Memo, 10/20/14). Both Notices set out policies and procedures for transferring all or a portion of any remaining budget authority of a project-based Section 8 Housing Assistance Payment (HAP) contract from one property to one or more other properties. Section 8bb is a tool for preserving Section 8 budget authority.
Notice H 2015-03 merely corrects a typo that could have led to a misinterpretation of the standard for eligibility of a “displaced person” under the Uniform Relocation Act.
An undated note from the Office of Multifamily Housing distinguishes Section 8bb transfers from Section 214 transfers (see accompanying article). The former are for properties that only have a HUD rental assistance contract, while the latter have a HUD assistance contract and an income-based use agreement.
Notice H 2015-03 only applies to situations in which the owner and contract administrator (generally HUD) mutually agree to terminate a HAP contract at Project A so that remaining budget authority can be transferred to another multifamily housing project, Project B.
Notice H 2015-03 is at http://portal.hud.gov/hudportal/documents/huddoc?id=15-03hsgn.pdf