Hawaii Administrative Rules
Title 17 - DEPARTMENT OF HUMAN SERVICES
Hawaii Public Housing Authority
Chapter 2031 - SECTION 8 - HOUSING CHOICE VOUCHER AND PROJECT BASED VOUCHER PROGRAM
Subchapter 8 - SECTION 8 PROJECT-BASED VOUCHER PROGRAM
Section 17-2031-103 - Re-determining rent to owner - rent reasonableness
Universal Citation: HI Admin Rules 17-2031-103
Current through August, 2024
(a) Contract rents will be adjusted only by HUD's OCAF at each anniversary of the HAP contract, subject to the availability of appropriations for each year of the contract term.
(1) OCAF means "an operating
cost adjustment factor established by HUD that is applied to the current
contract rent, less the portion of the rent paid for debt service".
(b) The rent to project owner may at no time exceed the reasonable rent charged for comparable unassisted dwelling units in the private market, as determined by the authority in accordance with 24 CFR 983.303, as it existed on October 20, 2022. However, the rent to project owner shall not be reduced below the initial rent to owner for dwelling units under the initial HAP contract.
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