HUD Hits Home Run

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Normandy Apartments, Ltd. owns and manages an apartment building in Tulsa, Oklahoma, under a Housing Assistance Payments contract with the U.S. Department of Housing and Urban Development (HUD) executed in 1992. Under this agreement, Normandy received housing assistance payments from HUD in exchange for reserving a portion of its apartments for low-income housing. In 2004, Normandy signed a renewal agreement, which the Oklahoma Housing Finance Agency signed but HUD did not. Under the renewal agreement, the Oklahoma Housing Finance Agency assumed HUD’s based oversight responsibilities under the original agreement--with HUD retaining the obligation to fund the assistance payments and general oversight.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Nancie G. Marzulla, Marzulla Law, LLC | Attorney Advertising

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