The
2019 Income and High/Low HOME Rent Limits
,
published on June 5, 2019, are effective
June 28, 2019
. The new rent and income limits can be implemented immediately, but no later than June 28, in accordance with the tenant’s current lease.
The 2013 HOME rule requires that the Participating Jurisdiction (PJ) review and approve HOME unit rents each year. Requests for rent increases must be made and approved prior to implementation in accordance with the procedures outlined in Chapter 2 of the Iowa Finance Authority (IFA) Compliance Manual. IFA has provided an updated one-page document called
HOME Rent Approval Procedures
,
detailing the rent approval process and can be found on the IFA website.
Each project with HOME funds from the State of Iowa is required to submit the IFA required
HOME rent approval worksheet
within 45 days of the effective date of the new HOME Income and Rent Limits. The deadline for submission of this form and, if applicable, any attachments is
Monday, August 12, 2019
.
If your project has not submitted the required rent approval worksheet by the deadline, you will be issued a State Notice of Noncompliance. Submission of the worksheet will correct the noncompliance. Please note that any requests for rent increases made after this date will be denied and the project will not be eligible for a rent increase until the 2020 rent limits are published by HUD.
There are three ways to submit your worksheet and required attachments:
1963 Bell Ave, Ste 200
Des Moines, IA 50315
Please contact
Julie Noland
with questions about submitting your data electronically, 515-725-4916.
