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Home My WebLink AboutRAP21-06 Colorado Housing and Finance AuthorityAttachment form HUD-9626) Amend Rents Auto OCAF Part B June 3, 2021 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 CO990038002/10111297 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 11/1/2021. 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 1.015. The debt service amount used in the calculation of new rents is $463,201.20. 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: D6BFAFFD-18A5-416F-A2A3-DC802E3248E4 RAP21-06 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 7/3/2021. 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: D6BFAFFD-18A5-416F-A2A3-DC802E3248E4 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 $0.00 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: D6BFAFFD-18A5-416F-A2A3-DC802E3248E4 7/13/2021 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: 11/1/2021 Number of Contract Units Number of Bedrooms Contract Rent Utility Allowance Gross Rent 38 2 1596 82 1678 34 3 2058 106 2164 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: D6BFAFFD-18A5-416F-A2A3-DC802E3248E4