e-snaps FAQ
Q

Why are the FY 2017 Fair Market Rent (FMR) amounts appearing on the Rental Assistance Worksheet and not the FY 2018 FMRs?

Date Published: May 2018

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A

Continuums of Care (CoCs) will apply for projects in the FY 2018 CoC Program Competition using the FY 2017 FMRs. To ensure consistency between the Grant Inventory Worksheet (GIW) and the FY 2018 application process, GIWs will also use FY 2017 FMRs. Project applications that are selected for a conditional award will be adjusted and awarded based on the FMRs that are in effect at time of the FY 2018 application submission deadline. For additional information, see the FY 2018 CoC Program Competition: Funding Availability page and the FY 2018 CoC Program Competition NOFA regarding maximum award amounts.

24 CFR 578.51(f) provides the following information regarding when updates to the FMR will be made for rental assistance projects, "The amount of rental assistance in each project will be calculated by multiplying the number and size of units proposed by the FMR of each unit on the date the application is submitted to HUD, by the term of the grant."


Tags: e-snaps Grant Inventory Worksheets (GIWs) - Budget Amounts

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FAQ ID:

3380