Temporary suspension of income limits for households displaced by Hurricanes Harvey, Irma or MariaOctober 12, 2017
To aid households displaced by recent hurricanes, our regulator is allowing us to temporarily suspend AHP income limits on AHP-funded rental projects. This will help owners of AHP rental projects to provide temporary housing for households in stricken areas.
On October 9, 2017, the Federal Housing Finance Agency (the “FHFA”) provided guidance allowing the 11 Federal Home Loan Banks to temporarily suspend the household income limits for vacant AHP-assisted rental units that will be used to provide temporary housing to households that are displaced as a result of Hurricanes Harvey, Irma or Maria.
AHP rental project owners wanting to provide temporary housing to eligible households must obtain written approval from the Federal Home Loan Bank of Cincinnati (the “FHLB”) to accept displaced households as tenants regardless of household income, prior to leasing the vacant AHP units. Additionally, the temporary suspension of household income requirements is subject to the following conditions:
- The displaced/household must have resided in a county designated on or after August 25, 2017, September 4, 2017, or September 7, 2017 for Individual Assistance by the Federal Emergency Management Agency (“FEMA”) or other government designated areas as a result of Hurricane Harvey.
- The time period for suspension of household income limits shall not extend beyond 24 months after the date that FEMA designated the county for Individual Assistance.
- Project owners, must maintain and certify certain information, including the name and former address of each displaced individual/household, and a statement, signed under penalty of perjury by the displaced individual/head of household, that the individual/household requires temporary housing because of damage to their home located in the designated county.
- Project owners, must maintain documentation of the date the household began temporary occupancy of the AHP unit and the date the occupancy ends.
- Rents charged must not exceed the existing AHP rents for the units, except as permitted under other federal agency declarations for housing assistance for households displaced by Hurricane Harvey.
- Existing AHP-eligible tenants cannot be evicted or otherwise have their tenancy terminated as a result of efforts to provide temporary housing for displaced individuals/households.
This action is consistent with other federal emergency actions to provide needed housing for households whose homes were destroyed or who have had to be evacuated from areas affected by Hurricane Harvey, Irma or Maria, respectively.
For additional information, please contact Housing and Community Investment at 888-345-2246.