DEFINITIONS The United States Housing Act of 1937. The Act. A PHA that administers rental assistance under the Act, which Administering PHA. may include the HCV, Mod Rehab, or PBV programs. Activity that supports the pre-development, Affordable Housing Purposes. development or rehabilitation of other RAD conversions, public housing, section 8 of the Act, Low-Income Housing Tax Credits (LIHTC), or other federal or local housing programs serving households with incomes at or below 80% of area median income, or that provide services or amenities that will be used primarily by low-income households as defined by the Act. The annual recurrence of the date of the first day Anniversary of the HAP Contract. of the term of the HAP Contract. The written grant agreement between HUD Annual Contributions Contract (ACC). and a PHA under which HUD agrees to provide funding for a program (e.g., public housing or Housing Choice Vouchers (HCV)) under the Act, and the PHA agrees to comply with HUD requirements for the program. A detailed physical inspection of a property to Capital Needs Assessment (CNA). determine critical repair needs, short- and long-term rehabilitation needs, market comparable improvements, energy efficiency, unmet physical accessibility requirements, and environmental concerns, including lead-based paint. Criticial repairs are work that, in HUD’s determination, address imminent health and safety threats to residents and must be completed before residents can occupy or continue to occupy the affected units. For residents of Covered Projects, the option to obtain a HCV Choice-Mobility. from a PHA after a defined period of residency. (See Section 1.7.C.5 of this Notice for PBRA conversions, and Section 1.6.D.9 for PBV conversions, for further details on the Choice-Mobility component.) The event during which the applicable transaction documents are entered Closing. into. does not occur prior to Closing. (See Section 1.13 for further “Conversion” details on closing.) A PHA that either directly, or through an affiliate, administers Combined Agency. both a HCV program and public housing.
DEFINITIONS The Act. The United States Housing Act of 1937. Administering PHA. A PHA that administers rental assistance under the Act, which may include the HCV, Mod Rehab, or PBV programs. Affordable Housing Purposes. Activity that supports the pre-development, development or rehabilitation of other RAD conversions, public housing, section 8 of the Act, Low-Income Housing Tax Credits (LIHTC), or other federal or local housing programs serving households with incomes at or below 80% of area median income, or that provide services or amenities that will be used primarily by low-income households as defined by the Act. Anniversary of the HAP Contract. The annual recurrence of the date of the first day of the term of the HAP Contract. Annual Contributions Contract (ACC). The written grant agreement between HUD and a PHA under which HUD agrees to provide funding for a program (e.g., public housing or Housing Choice Vouchers (HCV)) under the Act, and the PHA agrees to comply with HUD requirements for the program. Capital Needs Assessment (CNA). A detailed physical inspection of a property to determine critical repair needs, short- and long-term rehabilitation needs, market comparable improvements, energy efficiency, unmet physical accessibility requirements, and environmental concerns, including lead-based paint. Criticial repairs are work that, in HUD’s determination, address imminent health and safety threats to residents and must be completed before residents can occupy or continue to occupy the affected units. Choice-Mobility. For residents of Covered Projects, the option to obtain a HCV from a PHA after a defined period of residency. (See Section 1.7.C.5 of this Notice for PBRA conversions, and Section 1.6.D.9 for PBV conversions, for further details on the Choice-Mobility component.) Closing. The event during which the applicable transaction documents are entered into. “Conversion” does not occur prior to Closing. (See Section 1.13 for further details on closing.) Combined Agency. A PHA that either directly, or through an affiliate, administers both a HCV program and public housing.
RAD-Acronyms-for-THA-Industry-Meeting.docx