On June 14, 2018, the Office of Multifamily Housing Programs issued new answers to a number of recently asked questions on transferring budget authority under Section 8(bb). The new FAQs address questions about 8(bb) transfers in which Owner B requests a 20-year renewal contract of Contract B under Option Two on the basis of a budget.
The revised FAQ document (see attached) supersedes the FAQs issued on December 19, 2016. Indicated in the revised document are three new FAQs and three previously published FAQs with minor technical revisions.
As the Office of Multifamily Housing formulates additional responses to questions about 8(bb) transfers, the Office will issue updates to this document. For more information on how the policies impact a particular project, please contact your Account Executive in your regional office.