ADMINISTRATIVE PLAN - San Antonio Housing Authority

the agreement to enter into HAP Contract (Agreement) states the estimated amount of the initialrent to owner, the actual amount of the initial rent to owner is established at the beginning of theHAP contract term.During the tem of the HAP contract, the rent to owner is redetermined at the owner’s request inaccordance with program requirements, and at such time that there is a five percent or greaterdecrease in the published FMR.18-VIII.B. RENT LIMITS [24 CFR 983.301]Except for certain tax credit units (discussed below), the rent to owner must not exceed thelowest of the following amounts: An amount determined by the PHA, not to exceed 110 percent of the applicable fair marketrent (or any HUD-approved exception payment standard) for the unit bedroom size minusany utility allowance; The reasonable rent; or The rent requested by the owner.Certain Tax Credit Units [24 CFR 983.301(c)]For certain tax credit units, the rent limits are determined differently than for other PBV units.These different limits apply to contract units that meet all of the following criteria: The contract unit receives a low-income housing tax credit under the Internal Revenue Codeof 1986; The contract unit is not located in a qualified census tract; There are comparable tax credit units of the same bedroom size as the contract unit in thesame building, and the comparable tax credit units do not have any form of rental assistanceother than the tax credit; and The tax credit rent exceeds a PHA-determined amount (not to exceed 110 percent of the fairmarket rent or any approved exception payment standard);For contract units that meet all of these criteria, the rent to owner must not exceed the lowest of: The tax credit rent minus any utility allowance; The reasonable rent; or The rent requested by the owner.DefinitionsA qualified census tract is any census tract (or equivalent geographic area defined by the Bureauof the Census) in which at least 50 percent of households have an income of less than 60 percent© Copyright 2008 Nan McKay & Associates, Inc. 18-35Revised/Approved 04/08/10 (Eff: 07/01/10)Unlimited copies may be made for internal use.