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Annual Contributions Contract [HUD]: Key Insights and Legal Framework
Definition & Meaning
The Annual Contributions Contract (ACC) is a formal agreement between the U.S. Department of Housing and Urban Development (HUD) and a Public Housing Agency (PHA) or an Indian Housing Authority (IHA). This contract outlines the terms under which HUD provides financial assistance to help these agencies offer safe, decent, and sanitary housing for low-income families. The ACC specifies the obligations of both HUD and the housing authority, ensuring compliance with federal regulations and the U.S. Housing Act of 1937.
Table of content
Legal Use & context
The ACC is primarily used in the context of housing law and public assistance programs. It is crucial for entities involved in developing and managing low-income housing projects. Legal professionals may encounter the ACC when dealing with compliance issues, funding applications, or disputes related to housing assistance. Users can often manage related forms or processes themselves using resources like US Legal Forms, which provide templates for the necessary legal documents.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: A local PHA enters into an ACC with HUD to receive funding for a new affordable housing project. The contract outlines the specific financial assistance and the responsibilities of the PHA in managing the project.
Example 2: An IHA uses an ACC to secure funds for the modernization of existing housing units, ensuring they meet safety and health standards (hypothetical example).
Relevant laws & statutes
The primary statute governing the ACC is the U.S. Housing Act of 1937. This act establishes the framework for federal assistance to public housing authorities and outlines the responsibilities of HUD in providing such assistance. Other relevant regulations can be found in 24 CFR 135, which details the economic opportunities for low-income persons.
Comparison with related terms
Term
Definition
Key Differences
Annual Contributions Contract (ACC)
A contract for federal assistance in low-income housing.
Specifically tied to HUD and PHAs/IHAs.
Procurement Contract
A contract for purchasing goods or services.
Focuses on procurement rather than housing assistance.
Housing Assistance Payment (HAP)
A payment made to landlords on behalf of low-income tenants.
HAP is a payment mechanism, while ACC is a contractual agreement.
Common misunderstandings
What to do if this term applies to you
If you are involved with a PHA or IHA and need to understand the ACC, start by reviewing the contract terms carefully. Ensure compliance with HUD regulations and seek guidance if needed. For assistance with related forms, consider using US Legal Forms, which offers templates that can simplify the process. If your situation is complex, consulting a legal professional may be advisable.
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