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6 <br /> Using the HUD formula and approved estimates of expenses , a <br /> new base rent will be calculated, and the monthly loan amortization <br /> r:. <br /> amount and any allowance for utilities added to it A determination <br /> of feasibility, based on the resulting gross rent, will then be made. <br /> If at any point during the Feasibility Analysis process, the <br /> project is found to be unfeasible, the owner will be notified in <br /> writing, and in person, of the reasons for the finding. <br /> 3. Referral of Proposals <br /> If the rents proposed in the Feasibility Analysis are acceptable <br /> to the owner, and the project is feasible, then the Moderate Rehabili- <br /> tation Advisor will refer the Proposal to the Rehabilitation Manager. <br /> The Rehabilitation staff will be responsible for scheduling all projec <br /> to meet the approved leasing schedule. Proposals will be referred, kE <br /> ing in mind approved unit distribution, geographic targets, and amount <br /> of rehabilitation necessary. <br /> In the event there are more acceptable proposals than program <br /> allocations, the Rehabilitation staff will select those to be imple- <br /> mented, considering the factors in the above paragraph. <br /> 4. Notification to Owners <br /> Owners whose proposals have been selected will be sent a Notice <br /> of Selection which will state that they have been selected for partici <br /> pation in the program and will indicate the tentative number of units <br /> to be assisted. Owners whose proposals are acceptable but cannot be <br /> processed during the first stage will be informed that their proposals <br /> are being held for future processing and that in thirty days they will <br /> be notified again by the Authority of a date when the proposal will be <br /> processed. <br /> Notices to owners whose proposals have been selected for process- <br /> ing will state that they have forty-five days in which to complete <br /> the following required activities before an Agreement to Enter into <br /> a HAP Contract can be signed: <br /> a. Preparation of detailed work write-ups and cost estimates. <br /> b. Selection of a contractor. <br /> c. Cooperation with the Rehabilitation Advisor in the comple- <br /> tion of a final feasibility analysis. <br /> d. Obtaining a financing commitment. <br /> e. Preparation of a lease form. <br /> The Notice will also state that the Rehabilitation Advisor will <br />