NAHMA HUD Update: HUD releases Community Planning and Development Program Formula Allocations and FY2017 Inflation Factors for HCV
Below, please find information regarding Community Planning and Development program formula allocations for fiscal year 2017 and Renewal Funding Inflation Factors for the Housing Choice Voucher program.
Community Planning and Development Program Formula Allocations for FY2017
Today, HUD released the FY2017 allocations for the Office of Community Planning and Development formula programs. Approximate full-year allocations include:
- Community Development Block Grants (CDBG) - $3 Billion
- HOME Investment Partnerships (HOME) program - $958 million
- Housing Opportunities for Persons with AIDS (HOPWA) - $320 million
- Emergency Solutions Grants (ESG) - $270 million
- Housing Trust Fund (HTF) - $219 million
To view approved levels of funding for these programs by community, please click here. To read more about this year's funding allocations, please click here.
FY17 Renewal Funding Inflation Factors for HCV program
Attached, please find a recent HUD notice establishing Renewal Funding Inflation Factors (RFIFs) to adjust FY2017 renewal funding for the Housing Choice Voucher (HCV) program of each public housing agency (PHA). The notice assigns the expected change in the national per-unit-cost for the HCV program (3.97%) to each PHA based on changes to Fair Marketing Rents (FMRs) for their operating area,effective June 19, 2017.
Renewal funding for PHAs for the calendar year 2017 funding cycle is based on HUD's inflation factors as applied to leasing and cost data from the prior year; RFIFs have been developed to account for the expected annual change in average per-unit-costs in the voucher program using several economic indices. HUD's FY17 methodology differed in part from the previous year in that the reliance on historical per-unit-cost data was replaced with an independent growth projection in gross rents and tenant incomes.
To view the attached notice online, please click here. To view HUD's tables showing the FY2017 Renewal Funding Inflation Factors by FMR area, please click here.
Juliana Bilowich, Government Affairs Coordinator
National Affordable Housing Management Association
400 N. Columbus St., Suite 203, Alexandria, VA 22314
Phone 703-683-8630, ext.116 Email firstname.lastname@example.org, Website www.nahma.org
NAHMA is the leading voice for affordable housing management, advocating on behalf of multifamily property managers and owners whose mission is to provide quality affordable housing.