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Public Housing Capital Fund
The Capital fund also permits PHAs to use Capital Funds for financing activities, including payments of debt service and
The Department of Housing and Urban Development's mission is to increase homeownership, support community development and increase access to affordable housing free from discrimination. HUD fulfills this mission through high ethical standards, management and accountability, and by forming partnerships with community organizations.
http://www.hud.gov/offices/pih/programs/ph/capfund/index.cfm
Program Accomplishments
Section 519 of the Quality Housing and Work Responsibility Act of 1998 authorized the CFP. A Rule was published in the Federal Register on March 16, 2000 on the formula allocation process A proposed Rule for comment on CFP implementation as well as implementation of the Capital Fund Financing Program will be published in the Federal Register later in this Fiscal Year.
Uses and Use Restrictions
The funds may be used for the development, financing and modernization of public housing developments and for management improvements.
The funds may not be used for luxury improvements, direct social services, costs funded by other programs, and ineligible activities as determined by HUD on a case-by-case basis.
Eligibility Requirements
Applicant Eligibility
The PHA must demonstrate that it has the legal authority to develop, own, modernize and operate a public housing development in accordance with the 1937 Act.
Beneficiary Eligibility
Low-income public housing residents.
Credentials/Documentation
PHAs must submit the following documents with their PHA Plan which includes a component for the Capital Fund Program: Form HUD-50075, PHA Certification of Compliance with The PHA Plan and Related Regulations; State or Local Certification of Consistency with the Consolidated Plan; Form HUD-5070, Certification of a Drug-Free Workplace; Form HUD-50071, Certification of Payments To Influence Federal Transactions; and Standard Form SF-LLL and SF-LLLa, Disclosure of Lobbying Activities (where applicable).
Aplication and Award Process
Preapplication Coordination
PHAs consult with local government officials and PHA residents as they plan for activities to be included in the CFP.
This program is eligible for coverage under E.O.
12372, "Intergovernmental Review of Federal Programs." An applicant should consult the office or official designated as the single point of contact in his or her State for more information on the process the State requires to be followed in applying for assistance, if the State has selected the program for review.
Application Procedures
PHAs annually submit a PHA Plan to the local HUD Field Office that consolidates information submitted by the PHA for various HUD programs into one document. The CFP is one component of the Plan.
Award Procedures
The Field Office reviews and approves the PHA Plan, which includes information relative to the CFP.
Deadlines
PHAs must submit a PHA Plan to the Field Office 75 days in advance of the PHA's fiscal year.
Authorization
Housing Act of 1937, as amended; Quality Housing and Work Responsibility Act of 1998, Public Law 105-276.
Range of Approval/Disapproval Time
The Field Office must notify the PHA within 75 days after the PHA submits the Plan of disapproval. If the PHA is not notified of disapproval within 75 days, the Plan shall be considered approved.
Appeals
To be determined through the rule-making process.
Renewals
None.
Assistance Considerations
Formula and Matching Requirements
The formula is based on the backlog and accrual needs of PHAs. There are no matching requirements.
Length and Time Phasing of Assistance
The statute requires that CFP funds allocated to a PHA be fully obligated within 2 years and expended in 4 years unless the Secretary extends the time period.
Post Assistance Requirements
Reports
To be determined through the rule-making process.
Audits
The CFP is audited in conjunction with the regular HUD or independent public accountant audit of PHA operations.
Records
The PHA must maintain budgets and cumulative cost records for review by HUD and independent auditors, as applicable.
Financial Information
Account Identification
86-0304-0-1-604.
Obigations
(Grants) FY 07 $2,493,865,000; FY 08 est $2,327,452,000; and FY 09 est $1,939,038,000.
Range and Average of Financial Assistance
$572 to $340,826,471; $667,760.
Regulations, Guidelines, and Literature
24 CFR Part 905.
Information Contacts
Regional or Local Office
Inquiries should be addressed to the Public Housing Director who has jurisdiction over the PHA (See the Catalog, Appendix IV for HUD Field Office addresses).
Headquarters Office
Assistant Secretary for Public and Indian Housing, Washington DC 20410. Telephone: (202) 708-0950.
Criteria for Selecting Proposals
None.
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