Title
Resolution to Approve the FY 2015 Payment Standard for the Ann Arbor Housing Commission Voucher Program
Memorandum
The Department of Housing and Urban Development (HUD) annually sets Fair Market Rents (FMRs), for determining eligibility of rental costs in Section 8 programs. FMRs are gross rent estimates representing rent and utility costs in private sector rental housing, pegged at approximately the 40th percentile. The AAHC must review its payment standards schedule annually and amend it as needed to ensure that the payment standards remain within the HUD-required range (between 90% and 110% of the approved FMRs). A payment standard, in general terms, is the amount generally needed to rent a moderately-priced dwelling unit in the local housing market and that is used to calculate the amount of housing assistance a family will receive.
The Commission's jurisdiction includes three counties (Washtenaw, Western Wayne and Monroe) and the City of Ann Arbor has its own payment standard within Washtenaw County.
Based on the attached review of proposed 2015 Fair Market Rents, it is recommended to set the payment standard for Washtenaw, Wayne and Monroe Counties at 100% of the FMR and to set the Ann Arbor payment standard to 110% of the FMR because housing costs are much higher in the City of Ann Arbor.
...Staff
Prepared by: Weneshia Brand, Voucher Program Manager
Approved by: Jennifer Hall, Executive Director
Body
WHEREAS, the Department of Housing & Urban Development (HUD) annually establishes and publishes Fair Market Rents (FMRs) by locale; and
WHEREAS, the Ann Arbor Housing Commission's (AAHC) payment standards are currently set at 90 -110% of the published FY 2014 FMRs; and
WHEREAS, HUD has published its proposed FY 2015 FMRs, scheduled for HUD approval effective October 1, 2014, includes an increase for Washtenaw County and Wayne County and a slight decrease for Monroe County; and
NOW THEREFORE BE IT RESOLVED, that the Ann Ar...
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