HCV 2024 HAP Funding - Revised HAP Set-aside Shortfall Funding Requirements
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Summary
AI summary — grounded in the notice text
This notice revises the CY 2024 HAP Set-aside shortfall funding requirements for PHAs administering the Housing Choice Voucher program, establishing stricter eligibility rules and voucher issuance restrictions for PHAs facing funding shortfalls. It supersedes Appendix E of PIH Notice 2024-16 and directs PHAs identified as at risk of shortfall to suspend general voucher issuance, cease absorbing ported vouchers, and implement cost savings measures under HUD's Shortfall Prevention Team (SPT) guidance. This matters because PHAs must comply with these requirements to remain eligible for shortfall Set-aside funding and to avoid terminating participating families due to insufficient funds.
Key Quotes
Verbatim from the notice
“This notice supersedes Appendix E of PIH Notice 2024-16, Implementation of the Federal Fiscal Year (FFY) 2024 Funding Provisions for the Housing Choice Voucher (HCV) Program”
Verbatim from the notice
“Immediately suspend the issuance of vouchers in accordance with the requirements described below.”
Verbatim from the notice
“Any PHA with a negative projected 2024 year-end balance will be considered a shortfall PHA.”
Key Dates
- Published
- Jun 24, 2024