FY 2014 Continuum of Care Program Competition - Funding Announcement
Earlier today, Secretary Castro announced $1.8 billion in grants to support nearly 8,400 local homeless housing and service programs across the U.S., Puerto Rico, Guam and the U.S. Virgin Islands. The Continuum of Care (CoC) grants awarded today support the Administration’s efforts to end homelessness by providing critically needed housing and support services to individuals and families experiencing homelessness across the country. View a complete list of all the state and local homeless projects awarded funding. In addition to renewing effective projects already in operation and projects created through local strategic resource allocation, today’s announcement includes funding for 25 new projects that will provide permanent supportive housing to individuals and families experiencing chronic homelessness in areas with especially high need. These new projects were awarded as part of a special competition designed to help the Department make progress toward its goal of ending chronic homelessness.
Details about Funds Announced Today for CoCs and Applicants
As stated in the FY 2014 CoC Program Funding Notice, HUD is issuing this single funding announcement that includes conditional funding for those projects that passed the eligibility and threshold criteria: renewal projects, new permanent supportive housing and rapid re-housing projects that were created through reallocation, new permanent supportive housing projects created through the Permanent Supportive Housing Bonus, CoC planning, and UFA Costs.
Adjustments to Funding
The conditional award amounts included for renewal projects may be different than the request that was submitted in the project application. The McKinney-Vento Act, as amended by the HEARTH Act, requires HUD to make certain adjustments to funding prior to award. These adjustments were made after the tiers were established and are as follows:
Funds awarded for rental assistance were adjusted by applying the Fair Market Rent (FMR) in effect at the time of application submission (including decreases). View the FY 2015 Fair Market Rent Limits.
Funds awarded for operating and leasing in permanent housing projects were increased based on the average increase in FMR amounts within a CoC’s geographic area, weighted for population density. Because operating and leasing costs do not decrease relative to rent amounts for specific units, adjustments were not made to these costs if the FMRs decreased in the geographic area.
In addition to these required adjustments, projects were reviewed to ensure that they were consistent with the approved Grants Inventory Worksheet and CoC Program interim rule.
If you have additional questions or require more specific information, please submit a question to the e-snapsHUD Exchange Ask A Question or contact your local HUD CPD field office.