§ 401.304 PRA provisions on PAE compensation.
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Title 24 CFR: Housing and Urban Development › Chapter IV: OFFICE OF HOUSING AND OFFICE OF MULTIFAMILY HOUSING ASSISTANCE RESTRUCTURING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT › Part 401: MULTIFAMILY HOUSING MORTGAGE AND HOUSING ASSISTANCE RESTRUCTURING PROGRAM (MARK-TO-MARKET) › Subpart B: Participating Administrative Entity (PAE) and Portfolio Restructuring Agreement (PRA) › § 401.304: § 401.304 PRA provisions on PAE compensation.
Text
(a)
Base fee.
(1) The PRA will provide for base fees to be paid by HUD.
(2) HUD will establish a substantially uniform baseline for base fees for public entities. The base fee for a PAE will be adjusted, if necessary, after the first term of the PRA.
(3) Private PAEs will be compensated based on the results of a competitive bid process which evaluates bidders' capability, timeliness, ability to work with tenant and community groups, and cost.
(b)
Incentives.
The PRA may provide for incentives to be paid by HUD. While individual components may vary between PAEs (both public and private), the total amount potentially payable under the incentive package will be uniform. Objectives may include maximizing savings to the Federal Government, timely performance, tenant satisfaction with the PAE's performance, the infusion of public funds from non-HUD sources, and other benchmarks that HUD considers appropriate.
(c)
Expenses.
The PRA will identify expenses incurred by the PAE that will qualify for reimbursement by HUD. Limits on these expenses will be established annually by HUD, but HUD may waive the limits for high-cost areas.
(d)
Other matters.
HUD will retain the right of final approval of any fee schedule. HUD will publish the standard form of PRA and the compensation package annually on its Internet Web site.
[65 FR 15485, Mar. 22, 2000, as amended at 72 FR 66038, Nov. 26, 2007]
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