Housing Finance Agency 57
East Main Street | Columbus, OH 43215
2016 HOME Rent Limits Published and Rent Approval Submission
The HOME Rent Approval deadline is fast approaching.
Owners/Recipients of HOME-assisted properties must submit a HOME
Rent Approval Form by July 21, 2016.
Friday, May 27, 2016, the Office of Program Compliance issued a
compliance message regarding the 2016 HOME rent limits and the required
HOME Rent Approval Form. The message indicated HDAP recipients must
certify what the 2016 HOME rent will be at the subject property. This
message is to clarify that HDAP recipients are not required to
list the specific HOME rent that will be charged at the subject
property. Rather, HDAP recipients only must certify that the 2016 HOME
rent used at the subject property will not exceed the maximum HOME
limits as published by HUD. All other information contained in the
message issued on May 27 remains unchanged.
The 2016 HUD published HOME rents are effective June 6,
2016. HDAP recipients of projects that have received HOME funds are
required to submit an OHFA HOME Rent Approval Form
on an annual basis. HDAP recipients who fail to submit the Form will be
placed on a Watch List and OHFA's Office of Planning, Preservation and
Development will be notified. Allocation of funding for new projects
may be impacted for Owners/Recipients who are on the Watch List.
HDAP recipients must
certify that the 2016 HOME rent used at the subject property will not
exceed the maximum HOME limits as published by HUD. This
requirement is the result of the 2013 Final HOME Rule. The 2013 Final
HOME Rule amends §92.252(f)(2) to require that a PJ (OHFA) must review
and approve rents for each HOME-assisted rental project each year to
ensure that the project complies with the HOME limits and that they do
not result in undue increases from the previous year.
The HUD published limits are available on the Rent and Income page of the
Program Compliance section of OHFA's website. HDAP recipients must
submit the OHFA Rent Approval Form by July 21, 2016. The HOME
Rent Approval Form should be sent directly to the OHFA Compliance Analyst
assigned to the subject property via email or standard postal mail.
Please direct any questions regarding this message to
Betsy Krieger, Director of Program Compliance via email at firstname.lastname@example.org.