In August 2012, HUD issued Notice H-2012-14 which sets forth the policy and procedures for its use of Residual Receipts to offset housing assistance payments for projects subject to a new regulation Project-Based Section 8 HAP Contract.  In addition, it outlines the obligations and duties of Owners and the responsibilities of HUD Field staff in processing and monitoring the use of this project resource.

For more information, view Notice H-2012-14 here.