HUD’s Office of Multifamily Housing Programs (Multifamily) posted a Memorandum dated May 28 announcing action to provide $800 million of the $1 billion CARES Act supplemental appropriation to approximately 16,500 properties with Section 8 Project-Based Rental Assistance (PBRA) contracts. This funding will enable properties to maintain normal operations. This CARES Act supplemental funding will compensate owners for decreased tenant rent payments resulting from reduced tenant income. It will also address increases in vacancy payment claims that occur due to pandemic-related delays in moving new tenants into units.
The Memorandum indicates that a notice is forthcoming to address the allocation methodology and requirements governing the remaining $200 million of PBRA CARES Act supplemental funding. It also states that owners and owner agents should follow current Multifamily protocols for interim income recertifications when a tenant reports a loss of income (see Q9 under “Policy and Operations” ing the latest Multifamily Q&A dated May 21).
The Memorandum is at: https://bit.ly/2XsDG71
More information about the Section 8 PBRA program is on page 4-46 of NLIHC’s 2020 Advocates’ Guide.