Last week, HUD’s Office of Asset Management and Portfolio Oversight (OAMPO) released a memo indicating that HUD will be allocating CARES Act supplemental funding resources for PBRA properties. When CLPHA members learned that HUD was not releasing the funds, they reached out to HUD officials to explain how releasing the funds would provide increased support for programs pivotal in preventing the effects and spread of coronavirus in member communities. As a result of our members’ efforts additional relief will be reaching an estimated 16,500 Section 8 properties.
According to the memo, HUD will soon disperse $800 million in approved Project-Based Rental Assistance (PBRA), out of the initially approved $1 billion. No other action is needed by PBRA owners to receive the funds. The remaining $200 million will be dispersed using an allocation methodology to be outlined in a subsequent notice.
While we hope our members will take pride in their efforts to the release of this most recent funding package, we understand the work that lays ahead. This pandemic and economic crisis is not ending anytime soon, and there are no communities more affected than our own.
For questions about CARES Act funding for PBRA, please contact Research and Policy Analyst Joshua Shokoor at email@example.com.