REMINDER 2011 Annual Financial Statement Due
Owners are required to submit Annual Financial Statement as outlined in the project's Regulatory Agreement. The financial statement is due within sixty (60) days following the end of the project's fiscal year.
DUNS/CCR Owner Certification
Notice Requiring Owners to Obtain Dun and Bradstreet Numbering System (DUNS) Numbers and to Register in the Central Contractor Registration (CCR)
read more >>
Clarification of Project-Based Section 8 Utility Allowance Regulations
Please review these memos from HUD Headquarter, HUD LA and HUD SF providing clarification of Utility Allowance Regulations for Project-based Section 8 properties. Effective October 1, 2011, Owners are required to provide a utility analysis with a request for a rent adjustment regardless if there is an adjustment or no change to the current utility allowance. Rent adjustment submission will be withheld if a utility analysis is not submitted. Owner certification and PHA schedules of utility amounts are no longer accepted as valid utility analysis documentation.
Section 8 Contract Administration
The California Housing Finance Agency (CalHFA) serves as a Traditional Contract Administrator on behalf of Housing Urban Development (HUD) for project-based Section 8 in California. Under the program, a Housing Assistance Payment (HAP) contract is entered between HUD and the project's owner for a specific period of time, generally 30 years. Eligible tenant generally pay the greater of 10% of their gross annual income or 30% of adjusted income toward rent and HUD provides the HAP subsidy for the remaining portion of the rent to the owner.
As Contract Administrator, CalHFA processes monthly tenant and voucher requirements, processes HAP payments, performs annual audits and budgets review, processes rent and utility adjustments, processes reserve reimbursement, perform physical site inspection and responds to tenant complaints related to the project.
