Day: December 20, 2016

HUD Publishes FY 2017 Section 8 Annual Adjustment Factors

~ Tushar Gurjal ~ Leave a comment

Today, December 20, 2016, HUD published in the Federal Register a notice titled “Section 8 Housing Assistance Program–Annual Adjustment Factors, Fiscal Year 2017.” The notice announces the FY 2017 Annual Adjustment Factors (AAFs) for adjustment of contract rents on the anniversary of certain assistance contracts. The Housing Choice Voucher program does not use AAFs, and a separate notice is published announcing the renewal funding inflation factors (RFIFs) for that program. There are three categories of Section 8 programs that use the AAFs.

Category 1: The Section 8 New Construction, Substantial Rehabilitation, and Moderate Rehabilitation programs.

Category 2: The Section 8 Loan Management (LM) and Property Disposition (PD) programs.

Category 3: The Section 8 Project-Based Certificate (PBC) program.

Each Section 8 program uses AAFs differently, and the specific application of the AAFs is determined by the law, the HAP contract, and the program regulations and requirements.

The full notice can be found here.

HUD Extends Comment Period for Public Housing Income Limits

~ Eric Oberdorfer ~ Leave a comment

On December 20, HUD published in the Federal Register an extension of the public comment period on the methodology HUD proposes to use to implement a new income limit in public housing, as mandated by the Housing Opportunity Through Modernization Act of 2016 (HOTMA). Comments are now due January 29, 2017.  NAHRO and other industry organizations asked HUD for an extension of the comment period in light of the large amount of notices and guidance HUD has recently released. NAHRO’s letter can be found here (members only). More information on HUD’s proposed methodology using very-low income thresholds to determine income limits can be found here.