HUD Issues Notice of Term Increase for Standard Section 202 PRAC Renewals
HUD’s Office of Housing sent the following information on September 29, 2022: HUD Issues Notice Implementing Five-Year Section 202 PRAC Renewals Dear Multifamily Owners and Operators, Today, HUD’s Office of Multifamily Housing Programs published a Notice that they will be increasing the standard Section 202 Project Rental Assistance Contracts (PRAC) renewal term to five-years from the one-year…