HUD has released PIH-Notice 2016-10, REV-1, entitled “Public Housing Operating Subsidy Calculations for Calendar Year 2016.” The notice provides public housing agencies (PHAs) with instructions for the calculation of operating subsidy eligibility in Calendar Year (CY) 2016.
HUD’s Office of Public and Indian Housing also released its Explanation of Obligations for May and June 2016. Funding for May and June uses a proration level of 89.73 percent.This rate may fluctuate throughout the year.
More information can be found here (members only).
HUD has posted additional information on its new Small Area FMR rule titled “Establishing a More Effective Fair Market Rent (FMR) System; Using Small Area Fair Market Rents in Housing Choice Voucher Program Instead of the Current 50th Percentile FMRs.” HUD has posted a list of Frequently Asked Questions (FAQ) and a one page fact sheet.
Here’s an excerpt from the FAQ about HUD’s anticipated timeline:
What is the timeline for the Proposed Rule?
The federal rulemaking process is complex and seeking public input takes time. Hence, timing is not easy to predict. HUD’s hope would be to issue a final rule in 2016. The Proposed Rule is currently open for public comment.
Read the fact sheet here