Earlier today, HUD published a press release announcing that it had selected PHAs for the fourth cohort of the Moving to Work (MTW) program. The MTW program allows PHAs that have received MTW status certain additional flexibilities in how they use their funds and greater freedom in how they operate. The program allows PHAs to innovate in how they provide housing.
The current expansion of the MTW program requires PHAs to commit to research on a particular policy topic. In addition to the regulatory and operational flexibility afforded by the program, PHAs selected in this cohort have committed to research asset building policies. Housing agencies in this cohort will have to pick, implement, and track one of the three following options for asset building policies:
- Opt-Out Savings Account Option – PHAs must deposit a certain amount of funds per month into an escrow account on behalf of an assisted household.
- Credit Building Option – PHAs must report public housing rent payments to credit bureaus.
- PHA-Designed Asset Building Option – PHAs must design their own local asset building program.
Currently, HUD has selected 87 of the 100 agencies, including 16 in this cohort, to which it is statutorily mandated to award an MTW designation. According to HUD, “MTW agencies are now in 40 states and the District of Columbia.”
HUD’s press release on the MTW fourth cohort can be found here.
NAHRO congratulates all of the selected PHAs that were selected in this cohort. The complete list can be found below.Continue reading