HUD Releases Operating Fund Reserves to PHAs

On September 28, HUD’s Operating Fund provided PHA projects a set of obligations for a small amount of funds. The funds include the 2016 holdback reserve – $5,000,000 that was set aside to address HUD corrections – and 2016 deobligations (recaptured funds) that are also available for distribution. PHAs should draw down the funds immediately, and the funds may be used for for 2016/2017 needs and/or reserves. The funds are currently available in eLOCCS.

 

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