Will the option to use Rent Reasonableness as a standard for max amount of rent assistance continue to be available?Q: One of the slides stated the max amount of rent assistance is the difference between rent and 30% of household income or FMR. Our organization has been using Rent Reasonableness as the standard for our program, with written permission to do so. Is this an option that will continue to be available? A: The maximum amount that the HOME TBRA project may pay to assist any given household with rent assistance is the difference between 30% of the household’s adjusted monthly income and the unit rent. Unit rent may be determined to be reasonable by using either the Fair Market Rent or Rent Reasonableness., Can an applicant submit two requests in the same funding round?Q: Can an applicant submit two requests in the same funding round? For example, an applicant is seeking funds for two different targeted populations. If the answer is yes, please confirm whether the TOTAL request between two applications cannot exceed $500,000.Q: An applicant can submit two requests in the same funding round as long as the targeted populations and/or service areas do not overlap, and there is organizational capacity to administer both awards. Each application can request up to $500,000.

Question

Will the option to use Rent Reasonableness as a standard for max amount of rent assistance continue to be available?Q: One of the slides stated the max amount of rent assistance is the difference between rent and 30% of household income or FMR. Our organization has been using Rent Reasonableness as the standard for our program, with written permission to do so. Is this an option that will continue to be available? A: The maximum amount that the HOME TBRA project may pay to assist any given household with rent assistance is the difference between 30% of the household’s adjusted monthly income and the unit rent. Unit rent may be determined to be reasonable by using either the Fair Market Rent or Rent Reasonableness.,  Can an applicant submit two requests in the same funding round?Q: Can an applicant submit two requests in the same funding round?  For example, an applicant is seeking funds for two different targeted populations. If the answer is yes, please confirm whether the TOTAL request between two applications cannot exceed $500,000.Q: An applicant can submit two requests in the same funding round as long as the targeted populations and/or service areas do not overlap, and there is organizational capacity to administer both awards.  Each application can request up to $500,000.

Accepted Answer

Will the option to use Rent Reasonableness as a standard for max amount of rent assistance continue to be available?Q: One of the slides stated the max amount of rent assistance is the difference between rent and 30% of household income or FMR. Our organization has been using Rent Reasonableness as the standard for our program, with written permission to do so. Is this an option that will continue to be available? A: The maximum amount that the HOME TBRA project may pay to assist any given household with rent assistance is the difference between 30% of the household’s adjusted monthly income and the unit rent. Unit rent may be determined to be reasonable by using either the Fair Market Rent or Rent Reasonableness.,  Can an applicant submit two requests in the same funding round?Q: Can an applicant submit two requests in the same funding round?  For example, an applicant is seeking funds for two different targeted populations. If the answer is yes, please confirm whether the TOTAL request between two applications cannot exceed $500,000.Q: An applicant can submit two requests in the same funding round as long as the targeted populations and/or service areas do not overlap, and there is organizational capacity to administer both awards.  Each application can request up to $500,000.

HOME TBRA Q&A

Iowa Economic Development Authority | Iowa Finance Authority

Phone

How can we help?

HOME TBRA Q&A

List items for HOME TBRA Q&A

Will the option to use Rent Reasonableness as a standard for max amount of rent assistance continue to be available?

Can an applicant submit two requests in the same funding round?