Rental Assistance agreements run 12 months or until funds are exhausted, and unused units may be transferred away

rd521.subsidy_calculation.agreement_term_and_agency_transfer_of_unused_units · v1.0.0

A Rental Assistance agreement has a term of the LATER of 12 months from the first disbursement of the obligation, or the point at which funds under the agreement are exhausted. Expiring agreements are renewed automatically at the existing number of units to the extent funds are available. The Agency may transfer Rental Assistance away from a project - to accompany a transfer to a different borrower, after a voluntary conveyance or foreclosure sale, after liquidation, prepayment or natural maturity, when a loan cannot be closed, or, to the extent permitted by law, when RA units have gone unused for six months on a Section 515 project or twelve months on a Section 514 or 516 project. Before transferring, the Agency must review whether all eligible tenants in the project are receiving Rental Assistance.

Confidence

high

Effective from

2022-03-01

Last reviewed

2026-08-30