Implementation of Public Housing Operating Fund Shortfall Funding from Federal Fiscal Year (FFY) 2024 Appropriations
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Summary
AI summary — grounded in the notice text
This notice implements a $25 million set-aside from FFY 2024 appropriations to help Public Housing Agencies experiencing or at risk of financial shortfalls. It explains eligibility criteria, how shortfall amounts are calculated using FDS data, the application process through the Public Housing Portal, funding tiers, and post-award requirements like Shortfall Improvement Plans and budget reporting. PHA staff should use this to determine whether their agency qualifies, how to apply by the deadline, and what ongoing compliance obligations apply if funded.
Key Quotes
Verbatim from the notice
“which provides a $25 million set-aside to assist Public Housing Agencies (PHAs) experiencing or at risk of financial shortfalls”
Verbatim from the notice
“PHAs must apply, via this website, by 5:00 p.m. Eastern Time on June 7, 2024.”
Verbatim from the notice
“The period of performance for Shortfall funds starts on the date of award and ends four years from the end of the funding year during which the funds were awarded, which is December 31, 2028.”
Key Dates
- Published
- May 9, 2024
- Effective
- May 9, 2024
Compliance deadlines
- Jun 7, 2024Deadline for eligible PHAs to submit Shortfall funding applications via the OpFund Web Portal
- Dec 31, 2028End of the period of performance for Shortfall fundsin 849 days