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Administrative Plan 7/1/2025 Page 17-48 <br />Termination by Owner – Reduction Below Initial Contract Rent [24 CFR 983.206(d)] <br />If the amount of the rent to owner for any contract unit, as adjusted, is reduced below the amount <br />of the initial rent to owner, the owner may terminate the HAP contract, upon notice to the PHA <br />no fewer than 90 calendar days prior to the planned termination, and families must be provided <br />tenant-based assistance and may elect to remain in the project. The owner is not required to <br />provide the one-year notice of the termination of the HAP contract to the family and the PHA <br />when terminating the HAP contract due to rent reduction below the initial rent to owner. <br />Termination or Expiration without Extensions – Required Provision of Tenant-Based <br />Assistance [24 CFR 983.206(b)] <br />Unless a termination or expiration without extension occurs due to a determination of <br />insufficient funding or other extraordinary circumstances determined by HUD, upon termination <br />or expiration of the contract, a family living at the property is entitled to receive a tenant-based <br />voucher no fewer than 60 calendar days prior to the planned termination or expiration of the <br />PBV HAP contract. However, the PHA is not required to issue the family a voucher if the PHA <br />has offered the family an alternative housing option (e.g., an assisted unit in another PBV <br />project), and the family chooses to accept the alternative housing option instead of the voucher. <br />Tenant-based assistance would not begin until the owner’s required notice period ends. The PHA <br />must provide the family with a voucher and the family must also be given the option by the PHA <br />and owner to remain in their unit with HCV tenant-based assistance subject to the following: <br /> The unit must comply with housing quality standards; <br /> The PHA must determine or have determined that the rent for the unit is reasonable; <br /> The family must pay its required share of the rent and the amount, if any, by which the unit <br />rent (including the amount allowed for tenant-based utilities) exceeds the applicable payment <br />standard (the limitation at 24 CFR 982.508 regarding maximum family share at initial <br />occupancy does not apply); and <br />EXHIBIT 1