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1.4 ANNUAL CONTRIBUTION. <br />A. Payment. HUD shall pay the PHA annual contributions for the <br />Program in accordance with HUD regulations and requirements. <br />B. Aaount and _Purpose of HUD Payments, <br />1. The annual contribution for the Program §hall be the <br />amount approved by HUD for each Fiscal Year to cover: <br />a. The amount of housing assistance payments by the <br />PHA. <br />b. The amount of PHA fees for Program administration. <br />2. The amount of the HUD annual contribution may be <br />reduced, as determined by HUD, by the amo,int of Program <br />Receipts (such as interest income) other ':ban the HUD <br />annual contribution. <br />C. Maximum Payments for Program. <br />1. Annual Limit on Pa ments for Program. <br />a. Except for payments from the CACC reserve <br />account as provided in section 1.4.E of this CACC, <br />the HUD annual contribution for the program <br />under section -1.4.8 during the Fiscal Year shall <br />not be more than the Maximum Annual Contribution <br />Commitment for the Program. <br />b. The Maximum Annual Contribution Commitment <br />for the Program for each PHA Fiscal Year shall be <br />equal to the sum of the contract authority amounts <br />reserved by HUD for the projects in the Program. <br />The amount of contract authority reserved for each <br />project in the Program is stated In Exhibits 1 and <br />If of this CACC Part I (subject to reduction in <br />accordance with section 1.4.1) and section 2,3 of <br />this CACC). if the first Fiscal Year for the <br />Program Is more than 12 months, the Maximum Annual <br />Contribution Conaltment for the Program for the <br />first Fiscal Year may be adjusted in an amount as <br />determined by HUD by the addition of the pro rata <br />amount applicable to the period in excess of 12 <br />months. , <br />ACC Part 1: Page 4 of 6 pages <br />HUD 52520 B (August 1988) <br />6 <br />n <br />