24 C.F.R. § 886.108

Maximum annual contract commitment

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(a) Number of units assisted. Based on analysis of housing assistance needs of families residing or expected to reside in the project, HUD shall determine the number of units to be assisted up to 100 percent of the units in the project. All units currently assisted under section 23 or section 8 shall be converted and included under the Contract pursuant to this subpart, unless the parties to the Lease or Contract object to such conversion. Units assisted under section 101 of the Housing and Urban Development Act of 1965 or under section 236(f)(2) of the National Housing Act shall not be included under the Contract pursuant to this subpart unless the Owner proposes and HUD approves such conversion.

(b) Maximum annual Contract commitment. The maximum annual housing assistance payments that may be committed under the Contract shall be that amount which, when paid annually over the term of the Contract, is determined by HUD to be sufficient to provide for all housing assistance payments and fees under the Contract.

(c) Project Account. In order to assure that housing assistance payments will be increased on a timely basis to cover increases in Contract Rents or decreases in Family Incomes:

(1) A Project Account shall be established and maintained, in an amount as determined by the Secretary consistent with his responsibilities under section 8(c)(6) of the Act, out of amounts by which the maximum annual Contract commitment per year exceeds amounts paid under the Contract for any year. This account shall be established and maintained by HUD for each project as a specifically identified and segregated account, and payment shall be made therefrom only for the purposes of (i) housing assistance payments, and (ii) other costs specifically authorized or approved by the Secretary.

(2) Whenever a HUD-approved estimate of required housing assistance payments for a fiscal year exceeds the maximum annual Contract commitment, and would cause the amount in the Project Account to be less than an amount equal to 40 percent of such maximum annual Contract commitment, HUD shall, within a reasonable period of time, take such additional steps authorized by Section 8(c)(6) of the Act as may be necessary to carry out this assurance, including (as provided in that section of the Act) “the allocation of a portion of new authorizations for the purpose of amending housing assistance contracts.”

Notes of Decisions

Cited in 3 cases, 1981–1990 · leading case: Doris Holbrook v. Henry C. Pitt, & Third-Party v. Sec'y, United States Dep't of Hous. & Urban Dev., Third- Party, 643 F.2d 1261 (3rd Cir. 1981).

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Doris Holbrook v. Henry C. Pitt, & Third-Party v. Sec'y, United States Dep't of Hous. & Urban Dev., Third- Party, 643 F.2d 1261 (3rd Cir. 1981). · cites it 3× “” 24 C.F.R. § 886.108 (c) (1980). According to HUD’s regulations, this project account is established and maintained “out of amounts by which the maximum annual Contract commitment per year exceeds amounts paid under the Contract for any year.”

Doris Holbrook v. Henry C. Pitt, & Third-Party v. Sec'y, United States Dep't of Hous. & Urban Dev., Third- Party, 748 F.2d 1168 (3rd Cir. 1984). “At the time the Section 8 contract was made by HUD with Pitt, and of course long before this action was commenced, an account was set up on the books of HUD, under Regulations of the Secretary ( 24 C.F.R. § 886.108 (c)(1)), for the Main Street Gardens project, to which account…”

Zellous v. Broadhead Assocs., 906 F.2d 94 (3rd Cir. 1990). “V 1987); 24 C.F.R. § 886.108 (c). The tenants have not asserted, however, that the source of funds for this account is other than the United States Treasury.”

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