Section 17-2031-101 - Term of the RAD PBV contract(a) The initial contract will be for a period of at least fifteen years. The initial contract may be up to twenty years upon request of the project owner and with approval by the authority.(b) Upon expiration of the initial contract, the authority must offer, and the project owner must accept, renewal of the contract subject to the terms and conditions applicable at the time of renewal and the availability of appropriated funds and the owner's satisfactory RAD PBV program performance, for such periods as the authority deems appropriate and in accordance with HUD instructions.Haw. Code R. § 17-2031-101
[Eff 12/31/2022] (Auth: HRS §3560-13) (Imp: HRS § 356D-13; HUD Notice H-2019-09 PIH-2019-23(HA) issued 9/5/2019 (RAD Notice) section 1.6.B.1-2)