How many draw releases can be scheduled during the rehabilitation period?
As many as five releases (four plus a final) can be scheduled. The number of releases is normally dictated by the cash-flow requirements of the contractor. An inspection is always required with a scheduled release; however, inspections may be scheduled more often than releases if necessary to ensure compliance with the architectural exhibits, HUD’s Minimum Property Standards and all local codes and ordinances. If the cost of rehabilitation exceeds $10,000, then additional draw inspections may be authorized under certain circumstances.
Related Questions
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- The conferences are scheduled over a 4 week period. Can people join the online activities after the start date?
- How many draw releases can be scheduled during the rehabilitation period?
