HUD revises Section 8 renewal guide

HUD revises Section 8 renewal guide to allow for-profits to keep all surplus cash on Option Two renewals.

Starting immediately, for-profit owners are allowed to keep excess cash at on many projects that were previously cash flow restricted. The intent of the change is to encourage owners to keep their properties and continue to maintain them as affordable housing. For the specific HUD language describing the changes follow this link and click on "Page Changes 4/13/2009."

— Posted on 4/17/2009