A key concern as of late has been whether HUD would be able to make Section 8 HAP payments to owners after the PBCA contracts in 42 states expire at the end of this year. NAHMA has been in touch with HUD to stress the importance of this matter.
Today, NAHMA learned that HUD is offering the PBCAs contract extensions. The contracts begin on January 1, 2013 and will initially run through March 31. HUD has the discretion to extend the contracts for up to seven 3-month terms. The last possible extension would end on December 31, 2014. Management Occupancy Reviews are not among the tasks included in these contracts.