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[{"$nulls":4},"SHCC CALCULATIONS          "]
["APPENDIX 2"]
["PART 1 ADJUSTMENTS WORKSHEET"]
[]
["FIELD OFFICE WORKSHEET FOR PROCESSING RENT INCREASES FOR AAF RENTS FOR NEW CONSTRUCTION AND SUBSTANTIAL REHABILITATION UNIT TYPES WHICH EXCEED THE EXISTING HOUSING FAIR MARKET RENTS "]
["(NOT FOR USE ON BUDGET BASED RENT INCREASES)"]
[]
["Property Name:",{"$nulls":4},"Unit Type:"]
[]
[]
["Contract #:"]
[]
[]
["ESSENTIAL INFORMATION"]
[]
["Existing FMR Level",{"$nulls":3},"Current Gross"]
["For Unit Type $",{"$nulls":3},"Rent for Unit Type $"]
[]
["AAF from Table 1",{"$nulls":3},"Comparable Rent from HUD-92273 "]
[{"$nulls":8},"(line 20)"]
[]
["Initial Difference Submitted by Owner (if any) "]
[]
[]
["STEP 1:  Is this contract a New Construction or Sub Rehab contract?  AND Is the current rent "]
["for this unit type (before application of the AAF) above the Existing Housing FMR?"]
[]
[null,"If the answer to BOTH questions is YES, then proceed to Step 2"]
[null,"If the answer to EITHER question is NO, then this unit type should be adjusted under "]
["Part 2 of this Notice.  This worksheet does not apply.  Please find Part 2 Adjustments Worksheet "]
["at the end of Appendix 2."]
[]
["STEP 2:  Apply the appropriate AAF in Table 1 to the current contract rent.  (NOTE:  "]
["Throughout this Worksheet when applying the published AAF, the factor of 1.000 should be used  "]
["in all cases where the published factor is below 1.000.)"]
[]
[null,{"v":0,"d":"$0.00"},"X",0,"=",null,{"v":0,"d":"$0.00"}]
["(Current Rent for Unit Type)      (Factor Used)          ",{"$nulls":5},"(Rent Level Produced by the AAF)"]
[]
[]
[{"$nulls":3},"(Factor Area )"]
[]
[]
[]
[]
["STEP 3:  Is the Rent Level developed in Step 2, greater than the Correlated Subject Rent Level "]
["(CSR) on form 92273, for the particular unit type?"]
[]
[{"v":0,"d":"$0.00"},null,null,">",{"v":0,"d":"$0.00"}]
["(Rent Level produced by the AAF)",{"$nulls":3}," (Comparable Rent Level)"]
[{"$nulls":4}," (CSR, form HUD 92273)"]
[null,"Yes, then go to Step 4"]
[null,"No, then the AAF is granted.  For units in which turnover occurred in the last year,         "]
["use AAF Table 1 to calculate the rents.  For units in which no turnover occurred in the last year "]
["use Table 2 to calculate the rents.  Go to Step 6(b) and document the new rent levels."]
[]
["STEP 4:  Since the AAF rent level derived in Step 2 is greater than the comparable rent "]
["submitted by the owner, then the initial difference must be added to the comparable rent."]
[]
["If documented evidence of the initial difference was submitted by the owner from the original "]
["underwriting documents, then use the dollar amount submitted by the owner.  If not, then use 10% "]
["of the initial Section 8 Contract Rent as a substitute."]
[]
[]
["  (Dollar Amount of the Initial Difference)"]
[]
["Method used for the Initial Difference:"]
[]
[null," Owner Submission",{"$nulls":4},"Calculated by HUD"]
[]
[{"v":0,"d":"$0.00"},null,"+",{"v":0,"d":"$0.00"},"=",null,{"v":0,"d":"$0.00"}]
["Comparable Rent Level",null,null,"Initial Difference",null,null,"Adjusted Comparable Rent Level"]
[]
["STEP 5:  Is the Adjusted Comparable Rent Level (derived above) greater than the rent level"]
[" obtained by applying the AAF in Step 2?"]
[]
[null,{"v":0,"d":"$0.00"},null,">",{"v":0,"d":"$0.00"}]
["   Adjusted Comparable Rent Level           Rent Level Produced by the AAF (See Step 2)"]
[]
[null,"Yes, then AAF is granted."]
[]
["Rent levels cannot go higher than the AAF.  For units in which turnover occurred in the last year, "]
["use AAF Table 1 to calculate the rents.  For units in which no turnover occurred in the last year,"]
[" use AAF Table 2 to calculate the rents.  (NOTE:  Throughout this Worksheet when applying the "]
["published AAF, the factor of 1.000 should be used in all cases where the published factor is  "]
["below 1.000.)"]
["Turnover Units"]
[]
[{"v":0,"d":"$0.00"},null,"x",null,null,"=",{"v":0,"d":"$0.00"}]
["Current Rent",null,null,"Table 1 Factor",null,null,"New Rent Level"]
[]
["Units with no Turnover"]
[]
[{"v":0,"d":"$0.00"},null,"x",null,null,"=",{"v":0,"d":"$0.00"}]
["Current Rent",null,null,"Table 2 Factor",null,null,"New Rent Level"]
[]
["Document these rent levels in Step 6(b) and proceed through Steps 7 and 8."]
[]
[null,"No, then the adjusted comparable rent will be the new rent level for all units without "]
["regard to turnover.  Document this rent level in Step 6 (a)."]
[]
["STEP 6:                 ",null,"The new rent level (s) for ",{"$nulls":3}," unit type is:"]
[]
[null,"a)",null,"for all units (Document this rent level in Step 8) OR"]
[]
[null,"b)",null,"for units with turnover (  #   of   Units",{"$nulls":4},") AND"]
[]
[{"$nulls":3},"for units with no turnover (  #  of Units",{"$nulls":4},")."]
[]
["STEP 7:  If Step 6 resulted in different rent levels for the same unit type, then a common rent "]
["level for this unit type must be derived.  Use the rent levels listed in Step 6 (b) above to derive a"]
[" new monthly Gross Rent Potential (GRP)."]
[]
[null,{"v":0,"d":"$0.00"},"for units with turnover  ",null,"X",0,"(# of units)","=",{"v":0,"d":"$0.00"}]
[]
[null,{"v":0,"d":"$0.00"},"for units with no turnover ",null,"X",0,"(# of units)","=",{"v":0,"d":"$0.00"}]
["(Add the two numbers which you just calculated to derive total)"]
[]
["GRP:"]
[]
[{"v":0,"d":"$0.00"},null,"+",{"v":0,"d":"$0.00"},null,"=",{"v":0,"d":"$0.00"}]
["Turnover GRP",null,null,"No Turnover GRP",null,null,"Total GRP"]
[]
["Divide Total GRP by the number of units for this unit type to obtain the new rent level for "]
["all",0,"BR Units."]
[]
[{"v":0,"d":"$0.00"},null,"Total GRP divide by",null,null,"units","=",{"$error":"#DIV/0!"}]
[]
["STEP 8:           The new rent level for all",{"$nulls":3},0,"   BR units is apporoved at",null,null,{"$error":"#DIV/0!"}]

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