CARH’S BROADCAST E-MAIL – Regulatory Update
September 8, 2015
HUD Issues its Annual Notice of Proposed Fair Market Rents for the Housing Choice Voucher Program, the Moderate Rehabilitation Single Room Occupancy Program and Other Programs for Fiscal Year (FY) 2016
HUD published its annual Notice in today’s Federal Register requesting comments on the Proposed Fair Market Rents (FMRs) for the Housing Choice Voucher Program and the Moderate Rehabilitation Single Room Occupancy Program and Other Programs for Fiscal Year 2016. Comments are due October 8, 2015.
These FMRs are used for several purposes. Specifically, the FMRs in this Notice are used to determine: (i) the payment standard amounts for the Housing Choice Voucher program; (ii) initial renewal rents for some expiring project-based Section 8 contracts; (iii) initial rents for housing assistance payment contracts in the Moderate Rehabilitation Single Room Occupancy program; and (iv) to serve as a rent ceiling in the HOME program. The proposed FMRs reflect the estimated 40th and 50th percentile rent levels trended to April 1, 2016. FMRs are also used in calculating flat rents in Public Housing units.
The Notice contains an explanation of the methodology for the FMRs. This explanation includes mention of Small Area FMRs and alternatives to the 50th percentile FMRs. HUD continues to review comments previously received and continues with the current FMR program for FY2016.
The CARH national office will be reviewing the Notice and submitting comments to HUD. If CARH members have any comments and concerns with the proposed FMRs, please email them to firstname.lastname@example.org by Friday, October 2, 2015.
If you have any questions, please contact the CARH national office at email@example.com or 703-837-9001.
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January 25-27, 2016, at the Westin Riverwalk Hotel in San Antonio, Texas!