Rent Increase Processing Using HUD's Section 8 Renewal Policy Guide
With multiple options and procedures detailed within the Section 8 Renewal Policy Guide, deciding which are applicable to each individual project's needs for project-based rental assistance contracts can be confusing at best. Let MCR provide turnkey processing services for the most difficult of HUD rent increase requests. In this capacity, MCR can compile HUD budget-based rent increases, or Operating Cost Factor Adjustment (OCAF) annual rent adjustments, including the generation of 3rd year full utility surveys and Rent Comparability Survey (RCS) market based 5th year Mark up to Market (MUTM) projects.

Project Based Voucher Processing
Often, FHA-Insured projects have project-based rental assistance in place for only a portion of their residents in need. In many cases, it is possible to gain addition subsidy units through use of HUD's Project-Based Voucher (PBV) program. MCR has successfully compiled and submitted PBV applications to local housing authorities and HUD for full approval for numerous extended affordability transactions throughout New England. In addition, MCR offers continued technical support after the successful execution of a PBV long term contract to handle any future rent increase or Housing Authority PBV issues that may occur post-closing.

Acquisition Due Diligence
MCR has modeled hundreds of proposed assisted housing acquisitions on behalf of multifamily owners and buyers. Our customized acquisition analysis reports consider all Federal, State, and Local use restrictions, HUD Handbook and Notice Changes, as well as Section 8, FHA, Flexible Subsidy and Low-Income Housing Tax Credit (LIHTC) guidelines, contracts, and limitations in recommending the optimum supportable offering price and financing structure for each proposed transaction.

Expiring Use Prepayment Restructuring
Our office has extensive experience in the negotiation, structuring, financing and processing of Preservation transactions for future affordability. In this capacity, MCR advises owners of Expiring Use Section 236 and Section 221(d)(3) transactions and may assist owners in the negotiations with HUD, State, and Local government officials. In addition, MCR assures the timely generation and issuance of all required tenant and public notifications, and advises in all HUD processing requirements for extended affordability Preservation including in regard to continuance of Section 8 contract rental assistance. MCR can insure the smoothest possible path to closing while meeting the client's stated financial goals.

Troubled Project Workout Planning
MCR's expertise in restructuring projects categorized as "troubled" by HUD has proven to be the deciding factor in resolving often difficult regulatory difficulties before they become cause for the implementation of formal sanctions by Federal or State agency offices. MCR can effectively guide owners and managers in the preparation of responses to adverse REAC inspections and alleged financial or regulatory non-compliance notices.

In many such cases, MCR's workout plans aim to recapitalize properties to fund repairs while restructuring debt, equity and rental subsidies in force in order to preserve asset value for owners. Once approved by HUD, MCR provides follow-up support during the implementation stage of each such plan, compiling and transmitting HUD and state agency progress reports as needed on behalf of assisted housing owners and managers in communications with HUD and State Housing Finance Agencies.