HHRP Related Questions

Question:
We are one of those counties that need to submit a close out HHR report this September. Should I use the SHIP online reporting system, or is there a separate HHR report I should use?

Answer:
Do not use the online reporting system. There is a separate HHRP annual report form that you can request from Florida Housing.



Question:
Now that we have research the expenditure deadline for HHRP, our jurisdiction has a small amount of HHRP funds remaining. What formal tracking process should administrators follow for remaining HHRP funds assigned to SHIP?

Answer:
Determine if the HHRP funds remaining are Program Income or Recaptured funds rather than the HHRP Allocation you received from Florida Housing Finance Corporation. Program income and recaptured funds are recorded cumulatively from when the HHRP funds were first received on July 1, 2005.

If the amount of the remaining funds does not exceed the sum total of your HHRP Program Income or Recaptured Funds, then according to Emergency Rule 67ER06-45 (10), you may transfer this amount of HHRP unencumbered funds into your SHIP Local Housing Assistance Trust Fund at the termination of the HHR Program. Your jurisdiction will “close out” the local HHR program by providing a final annual report. Any small amount of remaining unencumbered funds should be assigned as a source of revenue for your 08/09 SHIP distribution. These funds should be categorized as program income. When you create an annual report for 08/09, you will answer the final question on Form 4 by indicating that HHRP is the source of this program income revenue.

If, however, the source of your jurisdiction’s remaining unencumbered HHRP funds are from the initial HHR program allocation, then your jurisdiction has failed to meet the HHRP expenditure deadline. Contact the Florida Housing Finance Corporation to explain your situation and receive guidance on how to proceed.




Question:
As I create a HHRP Annual Report I have a question about Form 2, which asks about compliance with the Homeownership Set-Aside. Should I include the ELI allocation as part of the “Trust Fund” amount when calculating homeownership set-aside compliance and the Income Set-aside?

Answer:
Although a minimum of 65 percent of SHIP funds must be expended on homeownership activities, remember that there are three distinct HHRP allocations: Base allocation, ELI allocation and Collaborative Funds. The separate HHR funding allocated for ELI households is entirely exempt from the homeownership set-aside requirement.
For purposes of homeownership set-aside compliance, the trust fund is the sum total of the base allocation, the collaboration allocation and recaptured funds. Exclude the ELI allocation, along with program income. Regarding the income set-aside, the trust fund is the sum total of all funds except the ELI allocation.

As a side note, a local entity may expend less than 65 percent of its base HHR allocation and supplemental community collaboration funds on homeownership activities if previously received FHFC approval to do so at the beginning of its program implementation.


Question:
I know that all of the ELI allocation of HHRP dollars must be expended to assist Extremely Low Income households. Yet is it the case that only 85% of these funds are expended in this fashion, since up to 15% of the funds may be dedicated to administrative budget expenses?

Answer:
Yes. Although all of the ‘program dollars’ from your ELI allocation must be devoted to ELI households, you also have ‘administration dollars’ to expend. Florida Housing’s staff provides this guidance: Local Governments can account for 15% (Admin) less ELI allocation funds on Form 2 of the HHRP Annual Report.