The U.S. Department of Housing and Urban Development (HUD) has issued clarification with regards to its May 7 notice of funding availability (NOFA) for Capital Fund Recovery Competition grants, provided by the American Recovery and Reinvestment Act. Changes to the NOFA include, among other items, the following:
- adding threshold funding caps in Categories 1, 2 and 3 for public housing agencies (PHAs) designated as “high performers;”
- adding a rating factor on High Performer status to Category 4;
- amending the Capacity threshold requirement relating to the Capital Fund;
- clarifying the threshold requirement of Category 2, Public Housing Transformation, that deals with the census tract and the concentration of poverty;
- adding definitions of leverage and match and adding tie-breaking criteria based on leverage and match;
- amending the leverage ratio criteria in Category 1 required for Round 1 consideration;
- amending the Category 3 threshold requirement to require that any demolition and/or disposition applications had to be submitted to HUD no later than the date of the publication of the revised NOFA; and
- clarifying certain other Category 4 rating factors and funding limits
