§ 245.315. Materials to be submitted to HUD.
342 words·~2 min read·
/us/cfr/t24/s§ 245.315·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When the notice referred to in § 245.310 is served on the tenants, the mortgagor must send to the local HUD office copies of the following documents described in either paragraph
(a)or
(b)of this section, as specified by the local HUD office:
(a)Documents to be submitted under profit and loss approach:
(1)A copy of the notice to tenants;
(2)An annual Statement of Profit and Loss, Form HUD-92410, covering the project's most recently ended accounting year (this statement must have been audited by an independent public accountant if the project is required by HUD to prepare audited financial statements), and Form HUD-92410 for the intervening period since the date of the last annual statement if more than four months have elapsed since that date;
(3)A narrative statement of the reasons for the requested increase in maximum permissible rents; and
(4)An estimate of the reasonably anticipated increases in project operating costs that will occur within twelve months of the date of submission of materials under this section.
(5)A status report on the project's implementation of its current Energy Conservation Plan.
(b)Documents to be submitted under the forward-budget approach:
(1)A cover letter summarizing the reasons a rent increase is needed;
(2)A copy of the notice to tenants;
(3)A rent increase worksheet providing an income and expense budget for the 12 months following the anticipated effective date of the proposed rent increase;
(4)A brief statement explaining the basis for the expense lines on the rent increase worksheet;
(5)A partially completed Rent Schedule, Form HUD-92458;
(6)If the tenants receive utility allowances, the mortgagor's recommended utility allowance for each unit type and brief statement explaining the basis for the recommended increase; and
(7)A status report on the project's implementation of its current Energy Conservation Plan. (The information collection requirements in paragraph
(a)of this section were approved by the Office of Management and Budget under control number 2502-0310 and the information collection requirements in paragraph
(b)were approved under control number 2502-0324)