CARH’S BROADCAST E-MAIL – Regulatory Update

December 27, 2016

On October 5, 2016, CARH sent out a broadcast email informing members that HUD published the operating cost adjustment factors (OCAFs) for project-based rental assistance contracts issued under Section 8 project-based rental assistance contracts with an anniversary date on or after February 11, 2017. As you know, OCAFs are annual factors used primarily to adjust the rents for contracts renewed under section 515 or section 524 of Multifamily Assisted Housing Reform and Affordability Act of 1997.

However, the October 5, 2016, HUD notice inadvertently stated that the floor for the OCAF was one percent. The statutory floor is zero percent. As a result, today HUD published a Notice correcting the October 5, 2016, notice. HUD has republished the corrected notice in its entirety. The factors in the table have not changed.

If you have any questions, please contact the CARH national office at carh@carh.org or 703-837-9001.