RAD PIH Notice 2012-32 (.pdf, 1 MB) - National Low Income ...

Attachment 1A – Conversion Documentation and Guidelinessufficient to maintain a minimum balance at the end of each year during that 20-year period that is at least 5 percent of the total, aggregate projected capital needsfor that period.J. Market Study. If a market study has been required by any financing source, the PHA mustinclude a copy of that market study, including a summary of any identified competivenessissues and how they are addressed in the rehabilitation scope.K. Rehabilitation/Construction Management. The PHA must provide a discussion on howrehabilitation or construction will be managed, including:1. How construction funds will be controlled, including identification of any escrow agentas applicable, and any provisions for investing the funds,2. The fees that will be paid for administration of the rehabilitation or construction,3. The procurement (bid) process, including anticipated timing,4. The inspection and draw processes,5. Whether there will be a general contractor,6. Whether work will begin within 30 days after closing; if not, explain why, and7. A reasonable schedule for completion of rehabilitation or construction, from the date ofclosing the conversion and any financing.PIH-2012-32 (HA) Rental Assistance Demonstration – Final Implementation 70