OverviewIn contrast with funding PHAs at the entity level (pre-asset
management), the final rule establishes a system of project-based funding, one
of the first building blocks of asset management.
Under project-based funding,
PHAs will complete a separate subsidy form for each project. A major component
of a project’s subsidy calculation will be its Project Expense Level, or PEL.
The PEL is a model-generated estimate of the cost to operate the project, excluding
utilities and taxes. It is based on the costs of operating other federally-assisted
housing projects with similar characteristics (building type, location, number
of bedrooms per unit, etc.)
|