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RHIIP Listserv #453 - Operating Cost Adjustment Factors (OCAFs) for Fiscal Year (FY) 2021 have been Published
- By: admin
- On: 11/30/2020 13:23:13
- In: RHIIP Notices
The Operating Cost Adjustment Factors (OCAFs) for fiscal year (FY) 2021 were published on November 27, 2020 in the Federal Register.
Operating Cost Adjustment Factors (OCAFs) for Fiscal Year (FY) 2021 have been Published
The Operating Cost Adjustment Factors (OCAFs) for fiscal year (FY) 2021 were published on November 27, 2020 in the Federal Register. These factors are used for adjusting or establishing Section 8 rents under the Multifamily Assisted Housing Reform and Affordability Act of 1997 (MAHRA), as amended, for projects assisted with Section 8 Housing Assistance Payments. The factors are effective February 11, 2021.
The FY 2021 Multifamily Utility Allowance Factors, which may be used to adjust baseline utility allowances prepared in accordance with Housing Notice 2015-04, are also now available on HUDUser.
Note to Performance Based Contract Administrators (PBCAs) and HUD staff processing rent adjustments using Auto OCAF: The 2020 Factors will be updated shortly in iREMS. Please delete any Amend Rents records effective 02/11/2021 and beyond that were created either automatically or manually with the old 2020 Factors. A new record will automatically generate with the new 2020 Factor. Neither PBCAs nor submitting owners should be penalized by HUD for delays related to the late release of 2021 factors.