FULL AGENDA PACKET 2021-07-06 - Laserfiche WebLink

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EXHIBIT 3 5. The statute limits eligibility to bousebol(fs with income that does not exceed W) percent of area median income its defined by the Department of Housing and Urban Development (IILID) but does not provide a definition of household income. How is household income defined for purposes of the ERA program? flow will income be documented and verified? 'I Ile statute provides Ihal u-miiees may determine income eli-gibilily by relelence ro either (i) household [oral inutile for calendar year 2020 of (ii) sufficient confirmation of the housellold's rtlimthly iticmue at the time of application, as determined by the Secretary Of tile Treasury (Secretary). With I CspCct to Cash household applying fox assistance, grantees may choose between usiutt Elie definition Of "annual income" as provided by HUD in 24 CFR 5.609 and using adjusted glass income as defined for purposes of repirrring under Inrcrnal Rcvcntto Saviec (IRS) Form 1040 scrics for individual I-c(kral annual incomee tax purposes. For dcrerrllining annual income, grantees should obtain at rllc time of application Solllvc docunlcnrs evidenclllg annual income (B-�>-, wage statement, interest statement, unemployment compensation statement), or it copy of Form 1040 as filed wish the IRS for the household. For determining monthly income, grantees mist obtain income source documentation, as listed above, for at least the two months prior to the submission of the application for assistance. I an applicant qualifies haled tin monthly income, the grantee mast redetennine the hottschold income eligibility- every three months for the duration of assistance. 6. Tn addition to providing an attestation in writing, must applicants document that they have experienced a reduction in income, incurred significant costs, or experienced other financial hardship due tit the UOVTD-19 outbreak? Yes, to the extent administratively feasible, grantes must require applicants to document that they have (1) qualiflcJ for uncnlp1051110111 bcnoIIu or (it) experienced a rcducton in inconlc, incurcd significant costs, or experienced other financial hardship due directly or indirectly to COVID-I) that threaten the houschold's ability to pay Ihe costs of the rental property when due. Grantees must also require applicants to danonstrate a risk of experiencing honlclessness or housing instability, which may include past due rent and utility notices and eviction notices, if any, as part of the application process. 7. Is there a requirement that the eligible household have been in its current rental home when the puhlic health emergency with respect to COVTD-19 was declared? No. However, payments under ERA are to be provided to households to meet housing cost~ that they are tmable to meet m a result of the COV1D-19 outbreak There is no statutory requirement foi the length of ICllltl-C Ill the G1111Clll Ulllt- R. Whal data should a grantee collect regarding households to which it pro ides rental assistance in order to comply with Treasury reporting and rentrdkeeping requirements? TrcasUry will provide ltlstl"ochotls al a later Inlllc 05 to what- information groiuccS Illtlst 10,p011 t0 Treasury and how this information mist be reported. At a minimum, in order to ensure that Tteasury is able to fulfill its quarterly reporting requirclnans under section 501(g) of Division N of Ihe Act and its ongoing monitoring and oversight responsibilities, grantees should anticipate the need to collect [roam households and retain records on the lollowing: City Council 9 — 27 7/6/2021