Department of Housing and Urban Development December 27, 2016 – Federal Register Recent Federal Regulation Documents

Notice of Certain Operating Cost Adjustment Factors for 2017
Document Number: 2016-31206
Type: Notice
Date: 2016-12-27
Agency: Department of Housing and Urban Development
On October 5, 2016 at 81 FR 69073, HUD published a notice that established the operating cost adjustment factors (OCAFs) for project- based rental assistance contracts issued under Section 8 of the United States Housing Act of 1937 and renewed under the Multifamily Assisted Housing Reform and Affordability Act of 1997 (MAHRA) with an anniversary date on or after February 11, 2017. OCAFs are annual factors used primarily to adjust the rents for contracts renewed under section 515 or section 524 of MAHRA. The October 5, 2016, notice inadvertently stated, however, that the floor for the OCAF was one percent. The statutory floor is zero percent. As a result, today's notice corrects the October 5, 2016, notice. For the convenience of the public, HUD is republishing the corrected notice in its entirety. The factors in the table have not changed.