Garrett Square Application
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announcement
The Department of Housing and Urban Development (HUD) has announced the final rule for implementing the Housing Opportunity Through Modernization Act (HOTMA) after a thorough review and public feedback. HOTMA, which was signed into law in 2016, introduced a number of changes to the regulations governing HUD’s rental assistance programs such as Section 8 and public housing with the aim of simplifying administration and reducing the burden on private owners and public housing authorities (PHAs).
The changes under HOTMA cover various areas, including standards for income determination, resident self-certification, and interim re-examinations. It's important to align different regulations as many PHAs manage properties beyond traditional public housing, including units converted to Section 8 under the Rental Assistance Demonstration program and low-income housing tax credit developments.
The new rule raises the standard deduction for everyone and also increases the threshold for public housing and Section 8 residents to deduct additional medical expenses, according to a special policy adviser at HUD. This reduces paperwork and simplifies medical deductions for households.
The Final Rule implementing Sections 102, 103, and 104 of HOTMA brings significant benefits to tenants and reduces administrative burdens for public housing agencies (PHAs), Multifamily Housing owners (MFH owners), and participating jurisdictions.
The changes aim to streamline and align public housing and multifamily programs, which will have implications for owners and residents, making income determinations and asset tests easier to implement. The changes further aim to encourage asset building among residents, making it easier for them to accumulate wealth and fulfill the promise that affordable housing offers.
Several changes in the new ruling have a positive impact on tenants and make it easier for landlords by consolidating various rules into a standard one. Notably, several improvements will be adjusted for inflation over time, reducing the need for future updates.
The final rule is published in the Federal Register, and the various components of HOTMA have different start times. Some of the key rules for determining tenant income and assets will go into effect in 2024, allowing PHAs, HUD, and owners to make necessary adjustments to their IT systems.
Stay connected for further updates on these changes. The proposed changes cover areas such as allowance of deductions for seniors and people with disabilities for medical expenses, self-certification for income reviews, streamlined verification, use of income determinations from other programs, increased standard deduction, medical disability expenses, higher threshold for imputing income, hardship relief, asset limits, and exclusions to income.
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Garrett Square
HOW TO APPLY FOR GARRETT SQUARE APARTMENTS:
Step 1: Download or open the application by clicking the button below:
APPLICATION
Step 2: Fill out and sign the PDF that you just opened.
Step 3: SAVE THE PDF with your last name in the file name.
Step 4: Email the pdf file to garrettsquare@famicos.org
Step 5: Pay your $38 nonrefundable application fee below.
Your application is not considered complete until your application fee is received.
Please note: These apartments are exclusively for seniors aged 55 and over. If you are younger than 55 years old, even if you have a disability, you will not qualify for this apartment building.