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HomeMy WebLinkAboutRAP20-04 Colorado Housing and Finance AuthorityAttachment form HUD-9626) Amend Rents Auto OCAF Part B June 5, 2020 Management Agent Contact Eagle County Housing and Dvelopment Authority P. O. Box 850 Avon, CO 81631 VIA ELECTRONIC MAIL Subject: Automatic OCAF Rent Increase RIVERVIEW APARTMENTS CO990038002/10135641 Rent Comparability Study Expires: 07/02/2024 Dear Management Agent Contact: RIVERVIEW APARTMENTS is in a multi-year Housing Assistance Payments Contract and, as such, is eligible for an automatic OCAF rent increase to become effective 11/2/2020. However, if the complete rent increase submission is not received by the due date referenced below, the effective date will be delayed as detailed. The adjusted OCAF rent increase factor is 1.014. The debt service amount used in the calculation of new rents is $573,297.32. Please confirm that the debt service amount indicated is correct, if not, please contact me with the correct amount and a new Auto-OCAF Letter will be generated and sent to you. Should you elect this rent increase, the new rents for RIVERVIEW APARTMENTS will be as indicated on the attached Exhibit A. Indicate below which rent increase option you are requesting be applied in the upcoming contract funding year. Complete the Project information section that follows, and return this Notice and any attachments to your HUD/PBCA within 10 days of receipt of this package (check one). X I elect to receive the attached automatic OCAF rent increase. I elect to receive the attached automatic OCAF rent increase, and am submitting a Base Line Utility Analysis, a Certification providing the utility usage average amount that will adjust the utility allowance, and the supporting utility usage documentation from the utility provider; or if applicable, in the second and third DocuSign Envelope ID: AFF20A96-28B0-4B28-ABCB-FE111600E6EF RAP20-04 Attachment form HUD-9626) Amend Rents Auto OCAF Part B year after a base line utility analysis has been submitted a Factor Based Utility Analysis may be requested utilizing the pertaining year’s HUD published Utility Allowance Factor to adjust the utility allowance. I request a zero budget-based rent adjustment in lieu of the OCAF adjustment and understand that this will result in renewed funding at current rents. I further understand that the OCAF adjustment for this year may not be recouped retroactively in the future. If applicable, I am submitting a Utility Analysis and recommendation for a change to the Utility Allowances in the form mentioned above in election two. My signature on this letter certifies that I have reviewed the project’s income and expenses and they are at levels that will enable me to continue to provide decent, safe and sanitary housing. I request a Budget Based Rent Increase for the upcoming contract year. The required documentation for this rent increase is enclosed. A Rent Comparability Study is required for Option 4, and Option 2 (if the last RCS submitted is 5 years old). You must conduct that study according to HUD Notice 00-12 and Chapter 9 of the HUD Section 8 Renewal Policy (Policy). PLEASE NOTE, per the Policy’s guidelines: To expedite CA/HUD’s review, appraisers must order material in hard copy reports in the same order as Appendix 9-10 and present material in the format (e.g., grid/table vs. narrative) noted in that Appendix. If applicable, I am submitting a Utility Analysis and recommendation for a change to the Utility Allowances in the form mentioned above in the second election box. Other: ____________________________________________________________________ Attached is an electronic pdf of the form HUD-92458 Rent Schedule Low Rent Housing for completion as follows:  Please complete Column 7 and 8 of Part A (only applies to properties under the 236 Program) and/or Parts B through H of the HUD-92458 Rent Schedule (applies to all).  Any items listed as charges to tenants must have prior HUD approval. Please provide proof of such approval when you return the signed copy.  Please have the owner sign the rent schedule and email the electronic pdf copy to my attention within 10 day of the receipt of this package. We will not be allowed to process unless only the OWNER, or Owner authorized with written permission provided, has signed. Please understand that if you choose to increase the rents, in order for the increased rents to become effective on the anniversary date of the contract, your complete submission (as stated in the choices above) must be submitted no later than 7/4/2020. If the package is not received timely, the increase to the rents will be delayed one month for every month that the submission is late. DocuSign Envelope ID: AFF20A96-28B0-4B28-ABCB-FE111600E6EF Attachment form HUD-9626) Amend Rents Auto OCAF Part B I (We) hereby certify that the debt service amount of $573,297.32 and the non-section 8 rent potential amount of $0 is true, accurate and complete to the best of my (our) knowledge and belief. Project Name: Riverview Apartments Preservation, LP Owner Name: Riverview Apartments Preservation, LP Owner Signature: _________________________________________Date:____________________ Should you have any questions, please contact me. Thank you, Fazil Hashimi Contract Administrator OMB Control #2502-0587 Exp. (04/30/2017) “Public reporting burden for this collection of information is estimated to average .50 hour. This includes the time for collecting, reviewing, and reporting the data. The information is being collected for purposes of determining rent adjustments and will be used for estimating new rents. Response to this request for information is required in order to receive the benefits to be derived. This agency may not collect this information, and you are not required to complete this form unless it displays a currently valid OMB control number. No confidentiality is assured.” Privacy Act Notice: The United States Department of Housing and Urban Development, Federal Housing Administration, is authorized to solicit the information requested in the form by virtue of Title 12, United States Code, Section 1701 et seq., and regulations promulgated thereunder at Title 12, Code of Federal Regulations. While no assurance of confidentiality is pledged to respondents, HUD generally discloses this data only in response to a Freedom of Information Act request. DocuSign Envelope ID: AFF20A96-28B0-4B28-ABCB-FE111600E6EF 8/11/2020 Attachment form HUD-9626) Amend Rents Auto OCAF Part B EXHIBIT A IDENTIFICATION OF UNITS ("CONTRACT UNITS") BY SIZE AND APPLICABLE CONTRACT RENTS Section 8 Contract Number: CO990038002 FHA Project Number: 10135641 Effective Date of the Rent Increase: 11/2/2020 Number of Contract Units Number of Bedrooms Contract Rent Utility Allowance Gross Rent 38 2 1572 81 1653 34 3 2028 105 2133 Do not submit a Gross Rent Change through TRACS until the HUD-92458 Rent Schedule has been returned to you duly executed from your HUD/PBCA office. Note: (1) This Exhibit will be amended by Contract Administrator notice to the Owner to specify adjusted contract rent amounts as determined by the Contract Administrator in accordance with the Renewal Contract. (2) These rents are applicable with the Amend Rents Automatic OCAF for this effective Date. Attachments Included: HUD Form 92458 (Rent Schedule – Required) Utility Analysis Certification (Required) Utility Allowance Worksheet (Optional) DocuSign Envelope ID: AFF20A96-28B0-4B28-ABCB-FE111600E6EF form HUD-92458 (11/05) ref Handbook 4350.1Previous editions are obsolete Page 1 of 3 U.S. Department of Housing and Urban Development Office of Housing Federal Housing Commissioner Rent Schedule Low Rent Housing Project Name FHA Project Number Date Rents Will Be Effective (mm/dd/yyyy) Part B – Items Included in Rent Part D – Non-Revenue Producing Space Equipment/Furnishings in Unit (Check those included in rent.) Range Dishwasher __________________ Refrigerator Carpet __________________ Air Conditioner Drapes __________________ Disposal __________________________________ Utilities (Check those included in rent. For each item, (even those not included in rent), enter E, F, or G on line beside that item) E=electric; G=gas; F=fuel oil or coal. Heating ________Hot Water _______Lights, etc. _________ Cooling ________Cooking __________________________ Services/Facilities (check those included in rent) Parking ________________Nursing Care Laundry ________________Linen/Maid Service Swimming Pool __________________________________ Tennis Courts __________________________________ * These amounts may not exceed the Maximum Allowable Monthly Rent Potential approved on the last Rent Computation Worksheet or requested on the Worksheet you are now submitting. Market Rent Potential applies only to Section 236 Projects. Contract Rents Part C – Charges in Addition to Rent (e.g., parking, cable TV, meals) Purpose Monthly Charge $ $ $ $ $ $ Market Rents(Sec. 236 Projects Only) Part E – Commercial Space (retail, offices, garages, etc.) Col. 1 Col. 2 Col. 3UseUnit Type Contract Rent Total Rent Loss Due to Non-Revenue Units $ Col. 4Col. 2 Col. 3 Rental RateCol. 1 Monthly Rent Square Per Sq. Ft.Use Potential Footage (Col. 2 divided byCol. 3) Total Commercial Rent $Potential Part F – Maximum Allowable Rent Potential Enter Maximum Allowable Monthly Rent Potential From Rent Computation Worksheet (to be completed by HUD or lender) $ OMB Approval No. 2502-0012 (exp. 11/30/2020) See page 3 for Instructions, Public Burden Statement and Privacy Act requirements. Col. 1 Col. 5Unit Type UtilityCol. 4 Allowances Col. 6 Col. 8(Include Non-revenue Col. 2 Monthly Gross Rent Col. 7 MonthlyProducing Units) Number Col. 3 Contract Rent (Effective Date (Col. 3 + Col. 5) Rent Market Rentof Units Rent Per Unit Potential (mm/dd/yyyy)Per Unit Potential(Col. 2 x Col. 3) ___ / ___ / _____(Col. 2 x Col. 7) Monthly Market Rent PotentialMonthly Contract Rent Potential (Add Col. 4)*(Add Col. 8)*Total Units Yearly Contract Rent Potential Yearly Market Rent Potential(Col. 4 Sum x 12)*(Col. 8 Sum x 12)* Part A – Apartment Rents Show the actual rents you intend to charge, even if the total of these rents is less than the Maximum Allowable Monthly Rent Potential. Riverview Apartments CO99003800210135641 11/02/2020 11 02 2020 2Bedrooms 38 1,572 59,736 81 1,653 0 3Bedrooms 34 2,028 68,952 105 2,133 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 72 $128,688 $0 $1,544,256 $0 4 4 4 4 4 Blinds 4 E 4 E E 0 4 E 4 0 128,688 0 DocuSign Envelope ID: AFF20A96-28B0-4B28-ABCB-FE111600E6EF form HUD-92458 (11/05) ref Handbook 4350.1Previous editions are obsolete Page 2 of 3 Part G – Information on Mortgagor Entity Name of Entity Type of Entity Individual General Partnership Joint Tenancy/Tenants in Common Other (specify) Corporation Limited Partnership Trust List all Principals Comprising Mortgagor Entity: provide name and title of each principal. Use extra sheets, if needed. If mortgagor is a: • corporation, list: (1) all officers; (2) all directors; and (3) each stockholder having a 10% or more interest. • partnership, list: (1) all general partners; and (2) limited partners having a 25% or more interest in the partnership. • trust, list: (1) all managers, directors or trustees and (2) each beneficiary having at least a 10% beneficial interest in the trust. Name and Title Name and Title Name and Title Name and Title Name and Title Name and Title Name and Title Name and Title Name and Title Name and Title Name and Title Part H – Owner Certification To the best of my knowledge, all the information stated herein, as well as any information provided in the accompaniment herewith, is true and accurate. Warning: HUD will prosecute false claims and statements. Conviction may result in criminal and/or civil penalties. (18 U.S.C. 1001, 1010, 1012; 31 U.S.C. 3729, 3802) Name and Title Authorized Official's Signature Date (mm/dd/yyyy) Part I – HUD/Lender Approval Addendum Number Branch Chief/Lender Official Signature HAP Contract Number Date (mm/dd/yyyy) Exhibit Number Director, Housing Management Division Signature Loan Servicer Signature Date (mm/dd/yyyy)Date (mm/dd/yyyy) 4 Riverview Apartments LLC General Partner Eagle County Housing and Development Authority Sole Member of General Partnership Kathy Chandler-Henry Commissioner Jeanne McQueeney Commissioner Matt Scherr Commissioner Alliant Tax Credit Fund 58, Ltd.Investor Limited Partner Alliant Tax Credit Fund 58, Ltd.Administrative Limited Partner DocuSign Envelope ID: AFF20A96-28B0-4B28-ABCB-FE111600E6EF form HUD-92458 (11/05) ref Handbook 4350.1Previous editions are obsolete Page 3 of 3 Public reporting burden for this collection of information is estimated to average 20 minutes 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 agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. This collection of information is authorized under Section 207 of the National Housing Act. The information is necessary for the Department to ensure that project owners are not overcharging their tenants and to ensure that the rent levels approved by the Department are not exceeded. The Department uses this information to enforce rent regulations which otherwise would be difficult because there would be no clear record of the rents and charges that the Department had approved. In addition, the Department needs to periodically collect information regarding project principals, so unauthorized participation by previously excluded or otherwise undesirable owners can be detected. This information is required to obtain benefits. HUD may disclose certain information to Federal, State, and local agencies when relevant to civil, criminal, or regulatory investigations and prosecutions. It will not be otherwise disclosed or released outside of HUD, except as required and permitted by law. All project owners must submit the form HUD-92458 when request- ing an adjustment to project rents. HUD establishes and approves rental charges and utility allowances on the Form. The owner is responsible for notifying tenants of the approved rents. General. For projects with fully-insured or HUD-held mortgages, the owner/agent submits this Form to the HUD Field Office. For projects with coinsured mortgages, the owner/agent submits this Form to the lender. Part A. If the monthly rent potential you are proposing is less than or equal to the Maximum Allowable Monthly Rent Potential approved by HUD/lender on your original Rent Formula or on your most recent Rent Computation Worksheet, complete all of Part A according to the instructions below. If the monthly rent potential you are requesting exceeds the Maximum Allowable Monthly Rent Potential approved by HUD/lender on your original Rent Formula or on your most recent Rent Computation Worksheet, complete only Columns 1 and 2 according to the instructions below. Show your proposed rents and monthly rent potential in the cover letter transmitting your rent increase request. Column 1. Show each type of unit for which rents will vary. Show the number of bedrooms and bathrooms and other features that cause rents to vary (e.g., 2 BDM, 1 B, DA, KETTE, vs 2 BDM, 2B, DR, K). Use the following symbols: BDM - Bedroom LR - Living Room B - Bath DR - Dining Room K - Kitchen DA - Dining Alcove KETTE - Kitchenette Column 2. Show the number of units for each unit type. Include non- revenue producing units. Column 3. For unsubsidized projects, show the rent you intend to charge for each unit type. For subsidized projects, show the contract rent (as defined in HUD Handbook 4350.3) for each unit type. Column 4. For each line, multiply the contract rent in Column 3 by the number of units in Column 4. Add monthly contract rent potentials for each unit size to compute the total monthly contract rent potential. Multiply the monthly total by 12 to compute the annual contract rent potential. Columns 5 and 6. Complete the Columns only if the project has a subsidy contract with HUD and some utilities are not included in the rent. In Column 5, show the utility allowance for each unit type. Compute the gross rent for each unit type by adding the contract rent in Column 3 and the utility allowance in Column 5. Show this amount in Column 6. Columns 7 and 8. Complete these Columns only if the project is receiving Section 236 Interest Reduction Payments. In Column 7, show the market rent for each unit type. In Column 8, for each line multiply the market rent in Column 7 by the number of units in Column 2. Add the monthly market rent potentials for each unit size to compute the total monthly market rent potential. Multiply the monthly total by 12 to compute the annual market rent potential. Parts B, C, D and E. Complete these Parts according to the instructions on the Rent Schedule. Part F. Do not complete this Part. The HUD Field Office/lender will complete this Part. Parts G and H. Complete these Parts according to the instructions on the Rent Schedule. Part I. Do not complete this Part. The HUD Field Office/lender will complete this part. Instructions DocuSign Envelope ID: AFF20A96-28B0-4B28-ABCB-FE111600E6EF Attachment form HUD-9626) Amend Rents Auto OCAF Part B EXHIBIT A IDENTIFICATION OF UNITS ("CONTRACT UNITS") BY SIZE AND APPLICABLE CONTRACT RENTS Section 8 Contract Number:CO990038002 FHA Project Number:10135641 Effective Date of the Rent Increase:11/2/2019 Number of Contract Units Number of Bedrooms Contract Rent Utility Allowance Gross Rent 38 2 1550 81 1631 34 3 2000 105 2105 Do not submit a Gross Rent Change through TRACS until the HUD-92458 Rent Schedule has been returned to you duly executed from your HUD/PBCA office. Note:(1) This Exhibit will be amended by Contract Administrator notice to the Owner to specify adjusted contract rent amounts as determined by the Contract Administrator in accordance with the Renewal Contract. (2) These rents are applicable with the Amend Rents Automatic OCAF for this effective Date. Attachments Included:HUD Form 92458 (Rent Schedule –Required) Utility Analysis Certification (Required) Utility Allowance Worksheet (Optional) DocuSign Envelope ID: AFF20A96-28B0-4B28-ABCB-FE111600E6EF