Optimizing HAP Contract Renewals - Essential Knowledge for Owners & Operators of Project-Based Section 8 Properties
Tuesday, December 11, 2018
2:00 – 4:00 PM EST
About This Training
Ever wondered if you're getting the maximum rent potential from your Section 8 contract? Confused by HUD’s Housing Assistance Payment (HAP) policies and contract renewal options for Project-Based Section 8 projects? Not sure where to turn for guidance? Join host Vinnie Viola and special guest Pamela Huson for a two-hour, year-end webcast that will enhance your working knowledge of HUD’s options for HAP contract renewals and annual rent adjustments. This value-add training is ideal for multifamily pro's with responsibilities for HAP rental projects and for maximizing HAP revenue and other benefits. The training is targeted to:
- Project Owners and Operators
- Multifamily General Partners and Managing Members
- Senior Property Management Staff
- Multifamily Asset Managers and Compliance Staff
- HUD, State Housing Agency & PHA Staff
- Others interested in learning about HAP contract renewals
As a seasoned multifamily professional and asset manager, Pamela will share some war stories and offer practical HAP statutory and regulatory considerations for buyers, sellers, owners and agents, with emphasis on understanding program rules and regulations and optimizing contracts to benefit the property, residents, and owners.
- Understand the requirements, pros and cons of each HAP contract renewal option.
- Identify critical controlling documentation with original HAP contracts and multiple renewals that determines which renewal options apply.
- Determine how often to review your contract renewal and rent adjustment options.
- Explain the key differences between OCAF, AAF and budget-based rent increase methods.
- Understand what needs to be included (and excluded) from your renewal/rent adjustment request and how best to negotiate with HUD and/or the contract administrator.
- Understand the limitations on what may be imposed on your project by HUD or the contract administrator (CA).
Please contact Vinnie at 617-905-6340 or firstname.lastname@example.org with any questions about this training or your registration.
About the Presenters
Pamela Huson is President of Emerald Affordable Housing Compliance based in Columbus, Ohio. She has over fifteen years’ experience in multifamily affordable housing, including over a decade with the US Department of Housing and Urban Development (HUD). As HUD Senior Project Manager, Pamela served as a valuable resource on all asset management aspects of HUD properties, providing staff training and serving on various Washington D.C. headquarters committees. Following her tenure as HUD compliance director responsible for approximately 4,500 HUD units, in January 2017 Pamela formed her own consulting practice. Today, Pamela assists her clients with Transfer of Physical Asset (TPA) transactions, assignment of Housing Assistance Payment (HAP) contracts, management of Active Partners Performance System (APPS, fka 2530), renewal of HAP contracts and annual rent adjustments, 236/Interest Reduction Payment (IRP)/Decoupling, Real Estate Assessment Center (REAC) pre-inspections, Exigent Health and Safety (EH&S) issues, change in management agent, Management and Occupancy Review (MOR) preparation and response, resident issues, and Fair Housing/Section 504/ADA compliance. She provides consulting expertise on technical aspects with statutory and regulatory matters by assisting buyers, sellers, owners, agents, and industry partners in understanding rules and regulations and optimizing contracts to benefit the property, residents, and owners. Having been responsible for troubled and non-performing assets, Pamela is able to navigate the public sector through the myriad policies, procedures and nuances for success in portfolio management and can interpret and explain policy and procedures for asset management and development, preservation, disposition and continued mortgage servicing.
Vinnie Viola, MPA, HCCP, is Principal and Founder of Birch Island Real Estate Consulting, LLC. His company provides asset management consulting services and web-based and private trainings to owners, developers, operators and investors of multifamily housing funded with LIHTC equity. With over 25 years’ experience, Vinnie has worked in for-profit, government and not-for-profit organizations that invest in, manage and regulate affordable housing. His career includes ten years in various syndicator leadership roles at Boston Financial Investment Management and Boston Capital, through which he gained expertise with asset management best practices. In these roles, Vinnie participated in hundreds of investment committee meetings for prospective tax credit investments. He proactively managed thousands of rental units in hundreds of investment partnerships, comprising over $1 billion in investor contributed equity. Vinnie received his Bachelor of Arts in Geography with concentration in urban planning from the University of Massachusetts Boston and Master of Public Affairs from the University of Texas Dallas. He is an active member of NH & RA's Asset Management Council, a unique peer network that convenes affordable housing executives from multifamily development firms as well as syndicators, tax credit investors and lenders, to develop operational best practices.