A memo was released by HUD on March 12, 2020 updating Budget-Based Rent Adjustments for Section 202 PRAC properties.

HUD has resumed routine processing and approval of Budget-Based rent adjustments to increase Reserve for Replacement deposits at Section 202 PRAC properties.

In addition, HUD has standardized field office procedures for reviewing PRAC Captial Needs Assessments (CNAs) and determining how these capital needs should be reflected within the annual PRAC project operating rents.