HUD Announces Revised Operating Cost Adjustment Factors for Low-Income Housing Preservation and Resident Homeownership Projects

Summary

The Department of Housing and Urban Development (HUD) is revising the Operating Cost Adjustment Factors (OCAFs) for Low-Income Housing Preservation and Resident Homeownership projects, which are required by the Low-Income Housing Preservation and Resident Homeownership Act of 1990. The revised OCAFs will be applied to rent increases under the Section 8 Housing Assistance Payments program, and owners who previously accepted the erroneous OCAFs will have the option to retroactively apply the revised factors at their request.