At least fifteen months prior to the expiration of the HAP Contract between MSHDA and the owner for the project-based vouchers, MSHDA and appropriate parties will evaluate the success of PBV and determine if the HAP Contract will be extended for another fifteen years. If yes, an amendment to the HAP Contract will be executed for another fifteen-year period with the owner. If not, one year notice must be given to all families residing in the designated project-based units that the project-based rental subsidy assistance will expire and notify them of the expiration date. At the time the HAP contract terminates, if the family has occupied the PBV unit for more than a year, they will receive a HCV.