Message of The Month
***PLEASE DON'T FORGET THAT WHEN YOU SUBMIT AUXILIARY DOCUMENTS TO EPS, SUCH AS SPECIAL CLAIMS, REPAYMENT AGREEMENTS, ETC., THAT YOU INCLUDE THE CONTRACT NUMBER ON THE TOP. THANK YOU FOR YOUR ASSISTANCE!***
RHIIP Listserv Posting #409
June 15, 2018
Updated Section 8bb Frequently Asked Questions (FAQs)
On June 14, 2018, the Office of Multifamily Housing Programs issued new answers to a number of recently asked questions on transferring budget authority under Section 8(bb). The new FAQs address questions about 8(bb) transfers in which Owner B requests a 20-year renewal contract of Contract B under Option Two on the basis of a budget.
This revised “Updated Section 8(bb) Frequently Asked Questions (FAQs)” document supersedes the FAQs issued on December 19, 2016. Indicated in the revised document are three new FAQs and three previously published FAQs with minor technical revisions.
As the Office of Multifamily Housing formulates additional responses to questions about 8(bb) transfers, the Office will issue updates to this document. For more information on how the policies impact a particular project, please contact your Account Executive in your regional office.
FINALLY! INCOME LIMITS FOR 2018 HAVE BEEN UPDATED
The FY 2018 Income limits have been posted and are effective 4/1/18. Please make sure to update your income limits. You can find the new limits on the following website: https://www.huduser.gov/portal/datasets/il.html
Please note that any Move In or Initial Certifications submitted, with an effective date of 4/1/18 or later, that has an incorrect income limit, will generate an Action 1 error that needs to be rectified with a correction within 45 days!
TRACS 203A INFO
The TRACS Release 2.0.3.A 4-month implementation schedule date was to begin February 1, 2018. This implementation date is being RESCHEDULED to the Fall of 2018 to accommodate:
- Office of Management and Budget (OMB) approval of new and revised HUD forms and associated collection of information from the public; and
- HUD Office of Chief Information Officer (OCIO) TRACS upgrade project to allow currently unsupported Cool:Gen v6.5 software development tools to be upgraded to the current vendor supported release CA Gen v8.6.
MFH will publish a final 4-month implementation schedule once TRACS has completed: [i] User Acceptance Testing (UAT) of TRACS software upgrade with industry software vendors and [ii] OMB approval of HUD’s new and/or revised forms for the collection of information.
Testing requirements, the final TRACS Release 2.0.3.A Implementation Schedule, and stakeholders’ notifications will be posted on the TRACS documents page: https://www.hud.gov/program_offices/housing/mfh/trx/trxdocs
*****TRACS 2.0.3.A Fall 2018 Implementation Schedule at https://goo.gl/YsVHeT*****
*****TRACS 2.0.3.A Final Industry Specification Documents (1/30/2018) at https://goo.gl/YHY91E*****
****TRACS 2.0.3.A PowerPoint Presentation with Notes, by EPS, Inc. is now available for download at https://goo.gl/JuiFu6****