Prospects for 2016 Funding and Implications for Voucher Utilization

PHAs to Receive Full
Renewal Funding in 2015

Center for Budget and Policy PrioritiesPlease save the date of Thursday, February 26, 2015 for an important webinar from the Center for Budget and Policy Priorities (the Center.)

After cutting back in the wake of sequestration, state and local housing agencies began to restore Housing Choice vouchers to use in the final quarter of 2014 and have the opportunity to assist tens of thousands of additional low-income families this year.

It is estimated that due to sequestration, 1,578 fewer families in NJ using housing vouchers as of July 2014. HUD has already notified agencies that they will receive full renewal funding in 2015 (i.e., they will receive 100 percent of the funds for which they are eligible based on their voucher usage and costs over calendar year 2014).

In several weeks, HUD will also notify agencies how to qualify for additional funding if they either leased up vouchers at the end of 2014 or issued vouchers at the end of 2014 that were leased in early 2015. With this funding, as well as their reserves (including HUD-held reserves) of unspent 2014 funds, many agencies will be able to assist more families this year, thereby increasing the administrative fees they receive as well as their renewal funding eligibility in 2016.

In addition, the President’s 2016 Budget request includes 67,000 vouchers to restore the vouchers lost to sequestration.

30,000 of these vouchers are targeted to vulnerable populations:

  • 22,500 for #homelessfamilies, #homelessveterans (without regard to discharge status), tribal families and survivors of domestic or dating violence;
  • 5,000 vouchers to implement the emergency transfer provision of Violence Against Women Act (VAWA), and
  • 2,500 Family Unification Program (FUP) vouchers.

Visit the Center’s website for more information.