Note: A RCS is not required at any subsequent renewal of an ELIHPA or LIHPHRA project…

4. Under Option Four, if the owner requests an annual budget based rent adjustment, the owner will be required to submit a current RCS unless one has been submitted within the preceding five years.

• F. The Cost of the RCS.

  1. The cost of the RCS is an eligible project expense when:

     • a. The owner submits a RCS because HUD requested it under E above;

     • b. It is required by a renewal option; or

  • c. The owner submits a RCS under F above.

  • 2. The cost of any unsolicited RCS, not covered by E above, is not an eligible project expense.

Chapter Two – Published March 2023

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