[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: 24CFR886.101] [Page 130-132] TITLE 24--HOUSING AND URBAN DEVELOPMENT CHAPTER VIII--OFFICE OF THE ASSISTANT SECRETARY FOR HOUSING-FEDERAL PART 886_SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM_SPECIAL ALLOCATIONS --Table of Contents Subpart A_Additional Assistance Program for Projects With HUD-Insured and HUD-Held Mortgages Sec. 886.101 Applicability. Subpart A_Additional Assistance Program for Projects With HUD-Insured and HUD-Held Mortgages Sec. 886.101 Applicability. 886.102 Definitions. 886.103 Allocation of Section 8 contract authority. 886.104 Invitations to participate. 886.105 Content of application; Disclosure. 886.106 Notices. 886.107 Approval of applications. 886.108 Maximum annual contract commitment. [[Page 131]] 886.109 Housing assistance payments to owners. 886.110 Contract rents. 886.111 Term of contract. 886.111a Notice upon contract expiration. 886.112 Rent adjustments. 886.113 Physical condition standard; physical inspection requirements. 886.114 Equal opportunity requirements. 886.115 [Reserved] 886.116 Security and utility deposits. 886.117 [Reserved] 886.118 Amount of housing assistance payments in projects receiving other HUD assistance. 886.119 Responsibilities of the owner. 886.120 Responsibility for contract administration. 886.121 Marketing. 886.122 [Reserved] 886.123 Maintenance, operation and inspections. 886.124 Reexamination of family income and composition. 886.125 Overcrowded and underoccupied units. 886.126 Adjustment of utility allowances. 886.127 Lease requirements. 886.128 Termination of tenancy. 886.129 Leasing to eligible families. 886.130 HUD review of contract compliance. 886.131 Audit. 886.132 Tenant selection. 886.138 Displacement, relocation, and acquisition. Subpart B [Reserved] Subpart C_Section 8 Housing Assistance Program for the Disposition of HUD-Owned Projects 886.301 Purpose. 886.302 Definitions. 886.303 Allocation and reservation of Section 8 contract authority and budget authority. 886.304 Project eligibility criteria. 886.305 Disclosure and verification of Social Security and Employer Identification Numbers by owners. 886.306 Notices. 886.307 Physical condition standards; physical inspection requirements. 886.308 Maximum total annual contract commitment. 886.309 Housing assistance payment to owners. 886.310 Initial contract rents. 886.311 Term of contract. 886.311a Notice upon contract expiration. 886.312 Rent adjustments. 886.313 Other Federal requirements. 886.314 Financial default. 886.315 Security and utility deposits. 886.316-886.317 [Reserved] 886.318 Responsibilities of the owner. 886.319 Responsibility for contract administration. 886.320 Default under the contract. 886.321 Marketing. 886.322 [Reserved] 886.323 Maintenance, operation, and inspections. 886.324 Reexamination of family income and composition. 886.325 Overcrowded and underoccupied units. 886.326 Adjustment of utility allowances. 886.327 Lease requirements. 886.328 Termination of tenancy. 886.329 Leasing to eligible families. 886.329a Preferences for occupancy by elderly families. 886.330 Work write-ups and cost estimates. 886.331 Agreement to enter into housing assistance payments contract. 886.332 Rehabilitation period. 886.333 Completion of rehabilitation. 886.334 Execution of housing assistance payments contract. 886.335 HUD review of agreement and contract compliance. 886.336 Audit. 886.337 Selection preferences. 886.338 Displacement, relocation, and acquisition. Authority: 42 U.S.C. 1437a, 1437c, 1437f, 3535(d), and 13611-13619. Source: 42 FR 5603, Jan. 28, 1977, unless otherwise noted. (a) The policies and procedures of this subpart apply to Housing Assistance Payments under Section 8 of the United States Housing Act of 1937 on behalf of Eligible Families in Eligible Projects (see definitions in Sec. 886.102). (b) The primary goal of the Section 8 Loan Management Set-Aside Program is to reduce claims on the Department's insurance fund by aiding those FHA-insured or Secretary-Held projects with immediately or potentially serious financial difficulties. A first priority should be given to projects with presently serious financial problems, which are likely to result in a claim on the insurance fund in the near future. To the extent resources remain available, assistance also may be provided to projects with [[Page 132]] potentially serious financial problems which, on the basis of financial and/or management analysis, appear to have a high probability of producing a claim on the insurance fund within approximately the next five years. [42 FR 5603, Jan. 28, 1977, as amended at 53 FR 3368, Feb. 5, 1988]