Instructions For Completing Management Reviews Of Multifamily Projects printable pdf download

Instructions for Completing

U.S. Department of Housing

OMB Approval No. 2502-0178 (exp. 01/31/2000)

and Urban Development

Management Reviews of

Office of Housing

Multifamily Projects

Federal Housing Commissioner

Public reporting burden for this collection of information is estimated to average 4 hours per response, including the time for reviewing instructions, searching existing

data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Send comments regarding this burden estimate

or any other aspect of this collection of information, including suggestions for reducing this burden, to the Reports Management Officer, Paperwork Reduction Project

(2502-0178), Office of Information Technology, U.S. Department of Housing and Urban Development, Washington, D.C. 20410-3600. This agency may not collect this

information, and you are not required to complete this form, unless it displays a currently valid OMB control number.

Do not send this form to the above address.

The information is used by HUD to evaluate the quality of project management; determine the causes of project problems; and devise collective actions to stabilize projects

and prevent defaults. The information is gathered and recorded during an on-site review of project operations. The Worksheet provides a checklist of items to be reviewed

and evaluated. This information is required under 24 CFR 207.19(f)(4), 24 CFR 207.19(f)(5)(v) and 24 CFR 219.110. If this information is not collected there would be

more defaults on insured loans and consequently greater losses to HUD’s insurance funds. HUD does not ensure confidentiality to respondents.

Detailed instructions are contained in Chapter 6 of HUD Handbook 4350.1. Form HUD-9834 shall be used for all on-site management

reviews. Limited management reviews require completion of those line items of form HUD-9834, Summary Sheet, that are shaded. The

Loan Management Branch Chief determines the method for gathering this information. All categories of the form HUD-9834 shall be

used for all comprehensive management reviews.

b. For each of the six major categories (Lines I, II, III, IV, V &

A. Prior to On-Site Visit

VI) indicate your assessment of the appropriateness and

1. The realty/loan technician should thoroughly review the project

effectiveness of the owner's/agent's management operation.

file, answer the questions on Form HUD-9834 marked with an

On line VII indicate your assessment of the owner's/agent's

asterisk (*) and alert the realty/loan specialist to any imminent

overall operation. Consider the condition of the project at the

or existing problems.

time owner/agent assumed responsibility for project opera-

tions.

2. The realty/loan specialist should:

c. On page 3 of the form, thoroughly explain the facts and

a. Review the form HUD-9834 questions completed by the

reasoning underyling any unsatisfactory or below average

realty/loan technician; the most recent physical inspection,

rating.

annual financial report, and occupancy review; and other

d. Mail report with an appropriate cover letter. If manager was

relevant file documents. This review will help the realty/loan

rated below average or unsatisfactory, management must be

specialist to identify potential problem areas on which the

afforded an opportunity to appeal the rating before the report

review should focus and to determine if other HUD staff (e.g.,

is distributed to Headquarters.

the Financial or Occupancy Specialist) should participate in

e. Guidance on appeal procedures is provided in Section 2.6. of

the on-site visit.

Chapter 6 of the Handbook 4350.1.

b. Call the owner/agent to set up a date for the on-site review.

Confirm the review date in writing. The owner/agent should

2. Distribute the completed forms as follows:

be given at least a two-week notice.

a. Page 2 (Summary Sheet) and Page 3: Send the originals to

the project owner and copies to:

B. On-Site Visit

(1) Management Agent (gets original on HUD-owned proj-

ects)

1. Complete all questions on form HUD-9834. Document other

(2) Project file

significant observations.

(3) Mortgagee

2. Double check information and answers completed in the HUD

(4) When management is rated below average or unsatisfac-

Field Office prior to the on-site review.

tory and after the appeals or time frame for the appeals has

expired, send copy of the HUD-9834 Summary Sheet and

3. After you have answered all of the HUD-9834 questions, hold

owner's/agent's response to:

a close-out session with the owner/agent. Discuss your observa-

(a) Headquarters, Office of Multifamily Housing Man-

tions and conclusions. Let the owner/agent explain his/her

agement, to the attention of the Office Director

opinion of the cause of the problems and suggest recommenda-

having management responsibility for the project.

tions for correction and target completion dates (TCD).

(If the owner/agent does not submit a response within

thirty (30) days of the date of the Management Review

C. After On-Site Visit

Report, then submit the form HUD-9834 and conduct

1. Complete the Management Review Report Summary Sheet,

follow up activities to secure response and submit the

form HUD-9834, as follows:

owner's response when received.)

a. For each of the 45 management tasks, indicate whether

(b) Director, Participation and Compliance Division,

existing conditions and operating procedures are acceptable

HUD Headquarters.

or whether corrective action or improvement is needed (see

(5) Management Agent's file, if maintained.

codes on top of form). For each line item on which action

b. Form HUD-9834. File in project file.

is needed, a statement of deficiencies, recommended or

3. Conduct follow-up action to verify whether required actions

required corrective action and target completion date

have been completed. Enter date correction was verified in

(TCD) must be completed on the bottom half of the form.

right-hand column of Page 3 of the form HUD-9834.

form HUD-9834 (9/91)

Page 1 of 20

ref. Handbooks 4355.1 & 4350.1

Instructions For Completing Management Reviews Of Multifamily Projects

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