[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR880.505]



[Page 54]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

  CHAPTER VIII--OFFICE OF THE ASSISTANT SECRETARY FOR HOUSING-FEDERAL 

 

PART 880_SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM FOR NEW 

CONSTRUCTION--Table of Contents

 

             Subpart E_Housing Assistance Payments Contract

 

Sec.  880.505  Contract administration and conversions.



    (a) Contract administration. For private-owner/PHA projects, the PHA 

is primarily responsible for administration of the Contract, subject to 

review and audit by HUD. For private-owner/HUD and PHA-owner/HUD 

projects, HUD is responsible for administration of the Contract.The PHA 

or HUD may contract with another entity for the performance of some or 

all of its contract administration functions.

    (b) PHA fee for Contract administration. A PHA will be entitled to a 

reasonable fee, determined by HUD, for administering a Contract except 

under certain circumstances (see 24 CFR part 883) where a state housing 

finance agency is the PHA and finances the project.

    (c) Conversion of Projects from one Ownership/Contractual 

arrangement to another. Any project may be converted from one ownership/

contractual arrangement to another (for example, from a private-owner/

HUD to a private-owner/PHA project) if:

    (1) The owner, the PHA and HUD agree,

    (2) HUD determines that conversion would be in the best interest of 

the project, and

    (3) In the case of conversion from a private-owner/HUD to a private-

owner/PHA project, contract authority is available to cover the PHA fee 

for administering the Contract.