---
kind: "section"
citation: "24 C.F.R. § 888.420"
title: "24"
number: "888.420"
heading: "One-time Contract Rent determination."
url: "https://uscodex.org/cfr/24/888.420"
---

# §888.420. One-time Contract Rent determination.

- (a) **Determining the amount of the new Contract Rent.** Project owners eligible for retroactive payments, as described in [§ 888.401(c)](/cfr/24/888.401.md?p=c), may request a one-time Contract Rent determination, to be effective as described in [paragraph (c)](#c) of this section. The request for a one-time rent determination must be made when submitting a request for retroactive payments, as described in [§ 888.415](/cfr/24/888.415.md). If no claim for retroactive payments is made, an owner may submit only the request for a one-time rent determination, provided the owner is eligible for retroactive payments. The new Contract Rent under this provision will be the greater of:
  - (1) The Contract Rent currently approved by the PHA; or
  - (2) An amount equal to the Contract Rent as adjusted to May 31, 1991 under [§ 888.405(a)](/cfr/24/888.405.md?p=a).
- (b) **Currently approved rent.** The Contract Rent currently approved by the PHA is the Contract Rent stated in the most recent amendment to the HAP Contract signed by both the PHA and the owner.
- (c) **Effective date of new Contract Rent.** The new Contract Rent, determined under [paragraph (a)](#a) of this section, will be effective on May 31, 1991.

## Notes

### Source

Source: 56 FR 20085, May 1, 1991, unless otherwise noted.

### Authority

Authority: 42 U.S.C. 1437f and 3535d.

### Source

Source: 50 FR 38796, Sept. 25, 1985, unless otherwise noted.