Option 5: Request Renewal of Portfolio Reengineering Demonstration or Preservation Contract

Eligibility for Option 5 is limited to two types of properties:

1. Preservation Projects
   Owners who entered into a long term use agreement with HUD as part of the Preservation Program must renew under Option 5. The rent adjustment method is determined by the Plan of Action that was approved by HUD as part of the Preservation process. These contracts can be renewed for up to the lesser of 20 years or the remaining term of the use agreement.
2. Demonstration Projects:
   HUD is no longer doing initial renewals under the Portfolio Reengineering Demonstration Program.

Submission Requirements

• Contract Renewal Request Form (HUD Form 9624)
• Rent Adjustment request as determined by Plan of Action

HUD Guidance

Chapter Seven of the Section 8 Renewal Policy has complete guidance regarding Option 5.