SHCC is forwarding the information below on behalf of the HUD Multifamily Southwest Region in regard to Section 8(bb). Section 8(bb) provides HUD with a tool for preserving Section 8 budget authority. Under Section 8(bb), if a project-based Section 8 contract is terminated or expires and is not renewed, HUD has the ability to transfer any remaining budget authority to another Housing Assistance Payment (HAP) contract.
Dear Partners and Colleagues:
HUD continues to allow for the transfer of all or a portion of Sec. 8 Project Based Rental Assistance (PBRA) to certain eligible projects through Sec. 8(bb) authorities (Housing Notice H-2015-03). In an effort to maximize Sec. 8(bb) as a preservation tool, the HUD Multifamily Southwest Region is providing an opportunity for you, our HUD-affiliated partners, to notify us of your willingness to have HUD release your contact and property information to those multifamily property owners who are seeking to terminate their project-based Section 8 HAP contract (in whole or in part) and transfer the remaining budget authority to another project(s).
If you are interested, please submit a signed letter that is consistent with the sample (found here) and email it to
[email protected]. The contact information received via these signed lettersof interest will be consolidated by state and shared with owners who intend to end their participation in the Section 8 program. Information received may also be considered by the Department in instances where a transfer is being pursued in the context of HUD enforcement actions. Please note, participation in a Section 8(bb) transaction shall in no way be limited to those who respond to this invitation.
Requests to transfer budget authority will be reviewed in accordance with Housing Notice H 2015-03. You are encouraged to review the eligibility requirements in the Notice before submitting your letters of interest.
