Operating Fund

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The Joint Center for Housing Studies recently released The State of the Nation’s Housing 2011, the Center’s annual report describing the challenges facing the housing industry, with a particular emphasis on affordable housing.  With the tightening of rental markets, a record high 19 million American households are paying more than half of their income for housing, causing affordable housing residents to feel the squeeze.   

HUD officials ha

Here's a video clip from HUD Secretary Shaun Donovan's recent appearance at our 2011 Legislative Conference here in Washington. The moderator is Jim Tankersley from the National Journal. 

Publication Date:  March 18, 2011

The Department has obligated additional funding for Operating Fund subsidies for the month of April 2011.  HUD's explanation can be found here.  This funding is expected to be available in eLOCCS before April 1, 2011.

NAHRO staff, along with our industry partners, met yesterday with PIH Assistant Secretary Sandra Henriquez and nearly every member of PIH's senior leadership team to discuss issues related to the Department's proposal to imposed a $1 billion offset against public housing operating reserves for 2012.  The bulk of the meeting was spent discussing the Assistant Secretary's assertion, communicated through a February 22 letter to all PHA executive directors, that "Operating Reserve balances may only be used for Operating Fund

Note: See update at the bottom of this post.

Consider this a quick follow-up to last Thursday's Direct News item summarizing the administration's proposal to offset PHAs' operating reserves for 2012. 

NAHRO's comprehensive rundown of the administration's proposal to impose a $1 billion offset against PHAs' operating reserves for 2012 is now available online.  A few highlights, including our request for assistance: 

HUD has advanced the second distribution of Operating Funds to PHAs.  This distribution covers both February and March.  As with the first distribution, HUD has adjusted 2010 eligibility to estimate 2011 eligibility.  Unlike the initial distribution which assumed a 100% pro-ration relative to eligibility, the second one employs a 92% pro-ration.  NAHRO’s coverage of the initial distribution, including the eligibility adjustment, can be found here.