In May 2016, HUD announced the first-ever National Housing Trust Fund (HTF) allocations to states, amounting to nearly $174 million in available funds for FY 2016. HUD recently published the HTF Income Limits for FY 2016, which are calculated using the following methodologies:
- The formula that HUD uses for calculating the income limits for the Section 8 program, in accordance with Section 3(b)(2) of the U.S. Housing Act of 1937, as amended. These limits are based on HUD estimates of median family income, with adjustments based on family size.
- The Federal Poverty Line as determined by the U.S. Department of Health and Human services, published annually in the Federal Register.
In years in which the total amount available for allocations is below $1 billion (as is the case for FY 2016), the income limit reports will only display the limit for extremely low income families or families with incomes at or below the poverty line (whichever is greater) and will not include the very low income limit. The HTF FY 2016 Rent Limits are also available online, both limits became effective on July 1, 2016.
Additionally, HUD has made available new guidance entitled, “Requirements for Housing Trust Fund Environmental Provisions.” This notice describes the Environmental Provisions for new construction and rehabilitation that are required for HTF projects under the Property Standards at 24 CFR § 93.301(f)(1) and (2).