d. Select tenants from the public housing waiting list (see III.N.1, “Special Tests and Provisions Public Housing (24 CFR sections – Waiting List”) 960.206 and 960.208). e. Reexamine family income and composition at least once every 12 months and adjust the tenant rent and housing assistance payment as necessary using the documentation from third-party verification (24 CFR sections 960.253, 960.257, and 960.259). 2. Eligibility for Group of Individuals or Area of Service Delivery Not – Applicable 3. Eligibility for Subrecipients Not Applicable – J. Program Income For PHAs required to convert to asset management, any internal fees that the PHA charges to projects or programs (property management fees, asset management fees, etc.) are not considered program income for purposes of 24 CFR part 85, OMB Circular A-87, and 2 CFR part 200, provided that the fees charged are reasonable under the criteria established by HUD; however, other State and local restrictions still may apply. Consequently, any reasonable fees earned by the PHA/COCC will be treated as local revenue subject only to the controls and limitations imposed by the management, PHA’s Board, or other authorized governing body (24 CFR section 85.25, 2 CFR section 200.80; Section 7.2 in the Supplement to HUD Handbook 7475.1). L. Reporting 1. Financial Reporting a. SF-270, Not Applicable Request for Advance or Reimbursement – b. SF-271, Outlay Report and Request for Reimbursement for Construction Not Applicable Programs – c. SF-425, Not Applicable Federal Financial Report – 2. Performance Reporting HUD 60002, Section 3 Summary Report, Economic Opportunities for Low- and (OMB Each recipient that Very Low-Income Persons No. 2529-0043) – administers covered public and Indian housing assistance, regardless of the amount expended, and each recipient that administers covered housing and community development assistance in excess of $200,000 in a program year, must submit HUD 60002 information using the Section 3 Summary Reporting System (24 CFR sections 135.3(a)(1) and 135.90).
d. Select tenants from the public housing waiting list (see III.N.1, “Special Tests and Provisions – Public Housing Waiting List”) (24 CFR sections 960.206 and 960.208). e. Reexamine family income and composition at least once every 12 months and adjust the tenant rent and housing assistance payment as necessary using the documentation from third-party verification (24 CFR sections 960.253, 960.257, and 960.259). 2. Eligibility for Group of Individuals or Area of Service Delivery – Not Applicable 3. Eligibility for Subrecipients – Not Applicable J. Program Income For PHAs required to convert to asset management, any internal fees that the PHA charges to projects or programs (property management fees, asset management fees, etc.) are not considered program income for purposes of 24 CFR part 85, OMB Circular A-87, and 2 CFR part 200, provided that the fees charged are reasonable under the criteria established by HUD; however, other State and local restrictions still may apply. Consequently, any reasonable fees earned by the PHA/COCC will be treated as local revenue subject only to the controls and limitations imposed by the PHA’s management, Board, or other authorized governing body (24 CFR section 85.25, 2 CFR section 200.80; Section 7.2 in the Supplement to HUD Handbook 7475.1). L. Reporting 1. Financial Reporting a. SF-270, Request for Advance or Reimbursement – Not Applicable b. SF-271, Outlay Report and Request for Reimbursement for Construction Programs – Not Applicable c. SF-425, Federal Financial Report – Not Applicable 2. Performance Reporting HUD 60002, Section 3 Summary Report, Economic Opportunities for Low- and Very Low-Income Persons (OMB No. 2529-0043) – Each recipient that administers covered public and Indian housing assistance, regardless of the amount expended, and each recipient that administers covered housing and community development assistance in excess of $200,000 in a program year, must submit HUD 60002 information using the Section 3 Summary Reporting System (24 CFR sections 135.3(a)(1) and 135.90).
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