Answer: The Cooperative must make monthly deposits into the replacement reserve as per the Regulatory Agreement with HUD.
Trend: Consistent compliance with this requirement is crucial for maintaining funding and support from HUD.
List: Ensure monthly deposits are made on time and verify the amounts align with HUD's determinations.
Finding Text
In accordance with the Regulatory Agreement between the Cooperative and HUD, the Cooperative is required to make monthly deposits, in an amount determined by HUD, into the replacement reserve.