HUD Housing Programs: Tenants’ Rights (The Green Book): 7.6.2.4 The Annual Contributions Contract
In 1995, HUD completely revised its standard Annual Contributions Contract (ACC) and required each PHA to execute the new ACC. The revision eliminated nearly all of the clauses that imposed specific management obligations on PHAs.160 The only clauses left that relate to management require PHAs to develop and manage developments in accordance with applicable statutes and regulations, as amended, to prepare an operating budget annually and to expend funds only in accordance with that budget.