HUD PIH Notice § 2015-07

Funding Availability for Tenant-Protection Vouchers for Certain At-Risk Households in Low-Vacancy Areas - Fiscal Year 2015 (HUD PIH Notices)

HUD guidance — not codified law
In Force
Verified 10/14/2026 · Next check 10/21/2026
effective 10/6/2026FederalAffordable Housing Programs

Operative Text

HUD PIH Notice § 2015-07
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                                         U.S. Department of Housing and Urban Development
                                         Office of Public and Indian Housing
                                         Office of Housing

Special Attention of:                               Notice HUD 2015-07
Regional and Field Office Directors of
Public Housing; Multifamily Hub                     Issued: April 23, 2015
Directors; Multifamily Program Center
Directors; Public Housing Agencies;
and Owners/Agents                                   Expires: This notice remains in effect until
                                                    amended, revoked, or superseded

                                                    Cross References:
                                                    HUD Notice PIH 2014-13
                                                    HUD Notice PIH 2008-12 (HA); HUD
                                                    Notice PIH 2011-20 (HA); HUD
                                                    Notice PIH 2011-46 (HA);
                                                    “Consolidated Appropriations Act,
                                                    2014” (PL 113-76)
                                                    “FY 2015 Omnibus; Consolidated and
                                                    Further Continuing Appropriations Act” (PL
                                                    113-235)

UPDATE TO NOTICE: Update is to include Attachment B, Sample Format for Owner’s Requests.

Subject: Funding Availability for Tenant-Protection Vouchers for Certain At-Risk
          Households in Low-Vacancy Areas – Fiscal Year 2015

1. Purpose. HUD is making up to $7,000,000 available for Tenant Protection Vouchers (TPV)
    for certain at-risk households in low-vacancy areas for Fiscal Year (FY) 2015.

   The FY 2015 Omnibus; Consolidated and Further Continuing Appropriations Act (Public
   Law No. 113-235, enacted December 16, 2014), provides that up to $5,000,000 of the
   $130,000,000 appropriated for TPVs may be made available for this purpose. In addition to
   exercising that authority, HUD is also making available $2 million in carry-over TPV
   funding of the $5 million that HUD made available for this purpose under the Consolidated
   Appropriations Act, 2014 (PL 113-76). TPVs provided under this set-aside are considered
   “replacement” TPVs and are not subject to the re-issuance restrictions that apply to certain
   TPVs under the FY 2015 Omnibus.

   This Notice describes the eligibility, selection, and funding process for this TPV set-aside
   funding in FY 2015. (The Notice retains the same eligibility, selection, and funding process
   from the previous fiscal year’s notice for this set-aside funding, HUD Notice PIH 2014-13.)
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    To be eligible for this set-aside funding, the three potential events that trigger a project’s
    eligibility (described in section 3 of the notice) must either occur in Federal Fiscal Year (FY)
    2015 (October 1, 2014 through September 30, 2015), or previously occurred prior to FY
    2015.

     Please note that requests for TPV assistance under this set-aside will be accepted on a
     rolling basis until the funding has been exhausted.

2. Summary. The $7 million in TPV assistance is available to assist residents residing in low-
    vacancy areas and who either are or may have to pay rents greater than 30 percent of
    household income as the result of:

     1) The maturity of a HUD-insured, HUD-held or section 202 loan that would have required
     the permission of the Secretary prior to loan prepayment;

     2) The expiration of a rental assistance contract for which the tenants are not eligible for
     enhanced voucher or tenant protection assistance under existing law; or

     3) The expiration of affordability restrictions accompanying a mortgage or preservation
     program administered by the Secretary.

     The TPV assistance may be provided as either enhanced vouchers or project-based voucher
     (PBV) assistance. As is the case for Housing Conversion Actions, public housing agencies
     (PHAs) will receive a special fee for the extraordinary costs associated with administering
     the enhanced voucher or PBV assistance under this Notice.

3. Eligibility. An owner is eligible to request assistance for unassisted households/units at the
     property if the owner is in compliance with civil rights threshold requirements (as described
     below), the property is in a low-vacancy area1, there are at-risk households residing at the
     property, these at-risk households are not currently receiving other project-based or tenant-
     based rental assistance under Section 8 of the United States Housing Act, and the property
     experienced (or will experience) one of the following three events in Federal Fiscal Year
     (FY) 2015 (i.e., October 1, 2014 – September 30, 2015) or prior to FY 2015:

     1) The maturity of a HUD-insured, HUD-held or section 202 loan that would have required
     the permission of the Secretary prior to loan prepayment;

     2) The expiration of a rental assistance contract for which the tenants are not eligible for
     enhanced voucher or tenant protection assistance under existing law; or

     3) The expiration of affordability restrictions accompanying a mortgage or preservation
     program administered by the Secretary.


1
  “Low-vacancy area” was defined for the purposes of this assistance as a county that currently and historically
demonstrates a moderate to tight rental housing market for low-income renters. A list of low-vacancy areas is
included in Attachment A.
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Category 1 above includes only properties with matured Section 202 Direct Loans and
matured Section 236 and 221(d)(3)-(d)(5) Below Market Interest Rate (BMIR) primary
mortgages. Please note that maturity of any mortgage instrument other than a Section 202
Direct Loan, Section 236, or Section 221(d)(3)-(d)(5) primary mortgage (for example, the
maturity of a mortgage made by a state Housing Finance Agency) does not qualify as a
matured mortgage for purposes of this Notice under category 1. Further, only the matured
properties where the Secretary’s consent to prepayment would have been required (or where
the Section 202 Direct Loan note was silent on the requirement for the Secretary’s permission
to prepay) are eligible under category 1. The Direct or FHA-insured mortgage note will
specify if the approval of HUD is a requirement for the prepayment.

Category 2 includes only properties where a Rental Assistance Payments (RAP) contract
expired prior to FY 2012, or where a Rent Supplement contract expired prior to FY 2000.
RAP contract expirations in FY 2012 or later, and Rent Supplement contract expirations in FY
2000 or later are not eligible for assistance under this Notice because tenants in such
properties are/were eligible for enhanced voucher or tenant protection assistance under
existing law, and therefore do not meet the criteria under category 2. Please note that some
properties with RAP contract expirations prior to FY 2012 already received tenant protection
assistance for eligible families, and are therefore not eligible for assistance under this Notice.

Category 3 includes two groups of properties, as follows:

       Matured Section 236, Section 221(d)(3)-(d)(5) BMIR, or Section 202 Direct Loan
        mortgages, where permission of the Secretary would not have been required prior to
        mortgage prepayment. To be eligible under Category 3, the underlying affordability
        restrictions at the property must have expired along with maturity of the mortgage.

       Expired “stand alone” Affordability Restrictions: This includes properties that had a
        HUD-imposed affordability restriction that expired (or will expire) in FY 2015 or
        prior to FY 2015. To be eligible under this category, the project with the expired
        affordability restriction must not, at the time of the request for assistance, have an
        active Section 202 Direct Loan, or an active Section 221(d)(3)-(d)(5) or Section 236
        FHA-insured or HUD-held mortgage. This category includes projects that had a
        HUD-imposed affordability restriction and may have been financed with a state-
        insured mortgage. Please note that the expired/expiring affordability restriction must
        be a HUD-imposed affordability restriction that restricted the property to operate as
        affordable housing to very low, low, and/or moderate income households. This may
        include, but is not limited to, the Preservation programs under the Title II Emergency
        Low Income Housing Preservation Act (ELIHPA) and the Low-Income Housing
        Preservation and Resident Homeownership Act (LIHPRHA), Section 236(e)(2)
        Decoupling Use Agreement, Section 250 Prepayment Use Agreement, or a Section
        219 Prepayment Use Agreement. An Interest Reduction Payments Agreement
        associated with a state non-insured 236 mortgage also meets the criteria under
        category 3. The expiration of a project affordability restriction imposed by another
        agency or funder does not meet the criteria under category 3.
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Owners may verify that their property is in a low-vacancy area by using the list of low-
vacancy areas in Attachment A.

“At-risk households” are those households residing at the property at the time of the owner’s
request whose annual income is equal to or less than HUD’s FY 2015 low income limit, and
are rent burdened currently or will be rent burdened after the mortgage maturity or
affordability restriction expiration in FY 2015. For those properties where the mortgage
maturity, rental assistance contract expiration, or affordability restriction expiration,
occurred prior to the date of the owner’s request for assistance, a family must have resided at
the property at the time of the mortgage maturity, rental assistance contract expiration, or
affordability restriction expiration to be considered an at-risk household. This Notice
provides further information on identifying at-risk households, including the threshold for
determining rent burden, in section 5 below.

Additionally, an owner must be in compliance with civil rights threshold requirements. An
owner is not eligible to request assistance if such owner:

i) Has been charged with a systemic violation of the Fair Housing Act or received a cause
determination from a substantially equivalent state or local fair housing agency concerning a
systemic violation of a substantially equivalent state or local fair housing law proscribing
discrimination because of race, color, religion, sex, national origin, disability or familial
status;

ii) Is a defendant in a Fair Housing Act lawsuit filed by the Department of Justice alleging a
pattern or practice of discrimination or denial of rights to a group of persons raising an issue
of general public importance pursuant to 42 U.S.C. 3614(a);

iii)Is a defendant in any other lawsuit filed or joined by the Department of Justice alleging a
pattern or practice or systemic violation of Title VI of the Civil Rights Act of 1964, Section
504 of the Rehabilitation Act of 1973, Section 109 of the Housing and Community
Development Act of 1974, Title II of the Americans with Disabilities Act, or a claim under
the False Claims Act related to fair housing, nondiscrimination, or civil rights generally
including an alleged failure to affirmatively further fair housing.

iv) Has received a letter of findings identifying systemic noncompliance under Title VI of
the Civil Rights Act of 1964, Section 504 of the Rehabilitation Act of 1973, Section 109
of the Housing and Community Development Act of 1974, or Title II of the Americans
with Disabilities Act;

v) Has received a cause determination from a substantially equivalent state or local fair
housing agency concerning a systemic violation of provisions of a state or local law
proscribing discrimination in housing based on sexual orientation or gender identity; or

vi) Has received a cause determination from a substantially equivalent state or local fair
housing agency concerning a systemic violation of a state or local law proscribing
discrimination in housing based on lawful source of income; and
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   vii) If applicable, has not resolved to HUD’s satisfaction, the charge, lawsuit, letter of
   findings or cause determination referenced in subparagraphs (i), (ii), (iii), (iv) or (v) and/or is
   not in current compliance with any agreement or consent order resolving the matter.

   Owners who wish to request assistance under this Notice must submit their request in
   accordance with the procedures set forth in this Notice.

   Upon receiving an owner’s request, HUD will verify that the maturity of the mortgage and/or
   expiration of the affordability restriction in fact removes/removed the affordability
   restrictions at the property and resulted or may result in tenants being rent burdened; that the
   RAP contract expired prior to FY 2012, or that Rent Supplement contract expired prior to FY
   2000; or that the mortgage maturity or affordability restriction expiration takes place in FY
   2015 or prior to FY 2015; and that the owner’s property is in a low-vacancy area.

   Please note that while assistance under this Notice for properties in categories 1 or 3 is
   limited to mortgage maturities or affordability restriction expirations that took place in FY
   2015 or prior to FY 2015, any funding leftover after all eligible properties’ requests for
   assistance have been funded may be carried over to the next fiscal year to fund mortgage
   maturities or affordability restriction expirations that occur after FY 2015.

4. Enhanced Vouchers or Project-Based Voucher Assistance. Owners may request either
    enhanced vouchers or project-based voucher (PBV) assistance for the at-risk households
    residing in their property. Both types of assistance are administered through Public Housing
    Agencies (PHAs). The HUD Public Housing (PH) Field Office Director will identify PHAs
    to administer the voucher assistance, in accordance with the procedures in section 6 below.
    Any PHA identified for this purpose may decline to participate entirely, or may agree to
    participate but only to administer enhanced vouchers, even if the owner has requested PBV
    assistance. If a PHA declines to participate, the HUD PH Field Office Director will take
    steps to identify a PHA that will agree to administer the assistance, as described in section 6
    below. Owners should be aware that in some cases, enhanced vouchers may be provided
    even if the owner requests PBV assistance; please see section 6 (step 5), and section 7, for
    more details.

   Owners are further reminded that all requirements of the housing choice voucher (HCV)
   program apply to the vouchers provided under this set-aside. For example, in the case of both
   enhanced vouchers and project-based vouchers, the PHA must determine that the rent to
   owner is a reasonable rent (i.e., the rent to owner is not more than rent charged for
   comparable units in the private unassisted market and for comparable unassisted units on the
   premises), and the cost of meals or supportive services may not be included in the rent to the
   owner, and the lease may not require the tenant or family members to pay charges for meals
   or supportive services. Owners should contact the local PHA if they have any questions about
   HCV program requirements.


    Enhanced vouchers
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   Enhanced vouchers are tenant-based assistance. Households issued enhanced vouchers may
   elect to use the assistance in the same property (as long as the property continues as rental
   housing and the tenancy can be approved in accordance with the enhanced voucher policies
   described in section 8 below), and in all cases may choose to move from the property
   immediately. There is no guarantee to the owner that any enhanced voucher assistance will be
   used at the property for any period of time. Enhanced vouchers are different from regular
   housing choice vouchers (HCVs) in two major respects. If the family remains in the same
   property, a higher “enhanced” payment standard is used to determine the amount of subsidy
   when the gross rent exceeds the normally applicable PHA payment standard, and the family
   must continue to contribute towards rent at least the amount the family was paying for rent on
   the date of the mortgage maturity, rental assistance contract expiration, or affordability
   restriction expiration that removes the affordability restrictions at the property.

   Project-based voucher assistance
   PBV assistance is project-based assistance. Under the PBV program, a PHA enters into a
   Housing Assistance Payment (HAP) contract with the owner for specified units and for a
   specified term. When families move from the assisted units, the PHA refers families from its
   waiting list to the owner to fill vacancies. PBV assistance provided through this Notice must
   follow all regulations at 24 CFR Part 983, with one exception: selection requirements under
   §983.51 (Owner proposal selection procedures) are not applicable to assistance provided via
   this Notice, because the Appropriations Act defines the categories of projects that are
   potentially eligible for PBV assistance. Moving to Work (MTW) agencies may administer
   the PBV assistance according to their MTW agreement.

   For further details on processing enhanced vouchers or project-based vouchers, see sections 7
   and 8 below.

5. Identifying At-Risk Households. In order to identify which of the residents of their property
    may be “at-risk households,” owners must first identify the current residents that resided at
    the property at the time of the mortgage maturity, rental assistance contract expiration, or
    affordability restriction expiration (if such event happened prior to the owner’s request for
    assistance). The owner must then determine the annual income of the residents, and compare
    this annual income to HUD’s low-income limits. The owner then determines whether the
    residents qualify as rent burdened, by comparing the adjusted monthly income of the
    residents to the owner’s applicable monthly rent (as defined in step 5 below).

   Owners and families should be aware that the final determination of a family’s income
   eligibility will be made by the PHA. Families identified as at-risk households in the process
   described in steps 1 – 5 below ultimately may be determined to be over-income (and
   therefore ineligible for assistance) by the PHA, which will reduce the number of vouchers
   that will be made available either as enhanced vouchers or PBV assistance, accordingly.

   The process to identify at-risk households is described in steps 1 - 5 below. Owners that
   have verified resident incomes within 12 months of the submission of the request for
   assistance under this Notice can skip steps 2 and 3 below.
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   Steps

1. Notification of residents. The owner must notify (in writing) all current residents of
   unassisted units at the property (who also resided at the property at the time of the
   mortgage maturity, rental assistance contract expiration, or affordability restriction
   expiration, if such event occurred before the owner submits the request for assistance)
   that the owner will be applying for assistance under this Notice. This notification
   must be provided prior to the owner applying for assistance under this Notice. In
   accordance with 24 CFR Part 245, those properties assisted with active project-based
   rental assistance contracts under Section 8 of the US Housing Act, and those
   properties with FHA-insured or Direct loans, must also notify legitimate tenant
   organizations at the property. The owner’s notification must state that he or she will
   be identifying at-risk households according to the residents’ income. In addition, the
   owner’s notice must state that if any resident contests the income determination made
   by the owner (and if the owner’s request for assistance is selected for funding), such
   resident will have the opportunity to have their income calculated for eligibility
   purposes by the administering PHA. The owner’s notification to the residents must
   also inform them that the owner’s application for assistance is not a guarantee that the
   property and residents will receive assistance under this Notice.

   Owners must ensure that any and all communications are provided in a manner that is
   effective for persons with hearing, visual, and other communications-related
   disabilities consistent with Section 504 of the Rehabilitation Act of 1973 (see 24 CFR
   § 8.6), and, as applicable, the Americans with Disabilities Act Owners also should
   provide such notification in a manner that is effective for persons who have limited
   English proficiency and should refer to HUD’s published Final Guidance to Federal
   Financial Assistance Recipients: Title VI Prohibition Against National Origin
   Discrimination Affecting Limited English Proficient Persons (LEP Guidance) (72 FR
   2732, published January 22, 2007) for assistance and information regarding LEP
   obligations.

2. Request for income information. If an owner has not verified resident income within
   12 months of the submission of the request for assistance under this Notice, the owner
   may request income information from each resident of the affected property.
   Residents are not required to share this information with the owner. If a resident
   chooses not to disclose income information, such resident will be identified in the
   owner’s request for assistance as a household that did not provide income information
   to the owner, and such household will not receive assistance through this Notice. For
   all residents identified in the owner’s request for assistance as a household that did not
   provide income information to the owner, the owner must maintain
   documentation showing that the family was notified in writing that their failure
   to provide income information to the owner means the family will not have the
   opportunity to receive rental assistance through this Notice.

3. Calculation of annual income. The owner determines annual income by adding all
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   to be received by the household in the next 12 months, excluding income from any of
   the following: the income of live-in aides or full-time students; student financial
   assistance; foster care or adoption assistance payments; Supplemental Nutrition
   Assistance Program (SNAP; formerly known as Food Stamps); Low Income Home
   Energy Assistance Program (LIHEAP); and Earned Income Tax Credit refunds. This
   amount is the household’s annual income. As discussed below, this calculation is a
   streamlined version of the calculation that PHAs use to determine income eligibility
   for the voucher program.

4. Comparison to HUD’s low income limits. The owner must compare the household’s
   annual income with HUD’s most current low income limits. For this comparison,
   owners must know the size of the household (e.g., 4 person household). Owners may
   find HUD’s low income limits by visiting
   http://www.huduser.org/portal/datasets/il.html. The owner then selects the state and
   county in which the property is located. The relevant information is located in the
   row labeled “Low (80%) Income Limits.” If the household’s annual income is
   greater than the low income limit found in this row, the household is not an at-risk
   household (as discussed above, any resident who contests this determination will
   have the opportunity to have their income calculated for eligibility purposes by the
   administering PHA, should the owner’s request be selected for funding). For
   example, if the “Low (80%) Income Limits” row lists $60,000 as the limit for a 4
   person household, and the annual income for the 4 person household in question is
   $60,001, then this household is not an at-risk household. If the household’s annual
   income is equal to or less than the low income limit, then the owner moves on to step
   5 below.

5. Calculation of adjusted monthly income and rent burden. The owner adjusts the
   annual income by deducting $480 from the annual income for each dependent in the
   household and deducting $400 from the annual income if the household’s head,
   spouse, or sole member is a person with disabilities or is at least 62 years of age. The
   owner then divides this adjusted annual income by 12 to determine the household’s
   adjusted monthly income.

   The owner then divides the household’s applicable monthly rent by the household’s
   adjusted monthly income to determine whether the household qualifies as rent
   burdened. Families qualify as rent burdened if, in the absence of this voucher
   assistance, they would have to pay more than 30 percent of their adjusted monthly
   income for rent.

   For example, consider the following 2 different households:

   a) The household’s adjusted monthly income is $3995 and the applicable monthly
   rent is $1200. The owner divides $1200 by $3995, which equals approximately
   0.3004. Because this household would have to pay more than 30 percent of their
   adjusted monthly income for rent, this household is an at-risk household.
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       b) The household’s adjusted monthly income is $4000 and the applicable monthly
       rent is $1200. The owner divides $1200 by $4000, which equals 0.30. Because this
       household would not have to pay more than 30 percent of their adjusted monthly
       income for rent, this household is not an at-risk household.

       As discussed above, any resident who contests this determination will have
       the opportunity to have their income calculated for eligibility purposes by the
       administering PHA, should the owner’s request be selected for funding.

       Please note that the “applicable monthly rent” means the proposed rents the owner
       intends to charge after the mortgage maturity or affordability restriction expiration,
       except as follows:

              In the case of a mortgage maturity, rental assistance contract expiration, or
               affordability restriction expiration that happened before the owner submits the
               request for assistance, “applicable monthly rent” means the rents the owner
               charges as of the date of the owner’s request for assistance under this Notice.

              For properties undergoing renovation that will be completed by November
               30, 2015, “applicable monthly rent” means the rent the owner intends to
               charge after the renovation is completed.

              For properties where the owner has chosen to continue charging below market
               rents to households that resided at the property at the time of the mortgage
               maturity, rental assistance contract expiration, or affordability restriction
               expiration, “applicable monthly rent” means the rent the owner charges (as of
               the date of the owner’s request for assistance) to households that moved to the
               property after the mortgage maturity, rental assistance contract expiration, or
               affordability restriction expiration, and reside in a similarly-sized unit; except
               as follows:

              For properties where the owner has chosen to continue charging below market
               rents to households that resided at the property at the time of the mortgage
               maturity, rental assistance contract expiration, or affordability restriction
               expiration, and no households have moved to a similarly-sized unit at the
               property since the maturity or expiration, “applicable monthly rent” means the
               rent the owner intends to charge after the property receives assistance through
               this Notice.

The owner must submit a statement certifying that the applicable monthly rents used in
calculation of at-risk and not at-risk households are accurate according to the terms of
this Notice.

The owner’s identification of at-risk households will be used to determine whether a request
for assistance is eligible for funding under this set-aside (because the presence of at-risk
households at the property is a requirement of receiving assistance). This calculation will
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   also be helpful for the owner to predict and forecast how many households may qualify to
   receive enhanced vouchers; if the owner is requesting PBV assistance, the calculation will
   help the owner anticipate how many units may be assisted under the PBV HAP contract.
   This exercise will be helpful for owners seeking new debt or equity financing for the
   project that will be supported by income from the PBV HAP contract.

   While the eligibility calculation by the owner is an important initial calculation, owners are
   advised that PHAs are still required to calculate income for each household before admitting
   that household to the voucher program, whether for enhanced vouchers or PBV assistance.
   Because the calculations performed by the owner at steps 3 and 5 above are a streamlined
   version of the calculations that PHAs use, some families identified by the owner as at-risk
   may in fact be ineligible for assistance due to being over-income. If a household identified by
   the owner as at-risk is later determined to be ineligible for voucher assistance due to being
   over-income, that household will not be issued an enhanced voucher (or, in the case of PBV
   assistance, the unit will not be included in the PBV contract). Additionally, as discussed
   above, families who contest the income determination made by the owner will have the
   opportunity to have their income calculated for eligibility purposes by the administering PHA
   (should the owner’s request be selected for funding). It is for this reason that the owner’s
   request for assistance must also include a list of the households determined not to be at-risk,
   as described in Section 6 below.

   Please also note that the applicable monthly rent will be reviewed by the PHA for rent
   reasonableness before any tenancy is approved (for enhanced vouchers), or before the initial
   rent to owner is established at the beginning of the HAP contract term (for PBV assistance).
   Before HAP can be paid for the unit, PHAs must determine the rents to be reasonable under
   983.303 (Reasonable Rent) for PBV assistance or 982.507 (Rent to Owner: Reasonable Rent)
   for enhanced vouchers (see also section 8.1(b)(2) below for more information on rent
   reasonableness and enhanced vouchers). Owners are encouraged to contact a PHA in the
   local area prior to submitting the request for assistance to obtain information on the likely
   rent levels the enhanced vouchers or PBV HAP contract will provide.

6. Procedures for Requesting and Processing Assistance. This section describes each of the
    steps necessary to process the owner’s request for assistance. The following steps must occur
    before the owner’s request for assistance can be approved and the PHA’s Annual
    Contributions Contract (ACC) amended to reflect the assistance. Owners’ requests for
    assistance will be accepted on a rolling basis until the funding available under this Notice has
    been exhausted.

      Steps

       1. Owners who wish to request assistance under this Notice must submit a letter
           requesting assistance to the HUD Multifamily Hub/Program Center (PC) Director,
           with a copy to the HUD Project Manager. The request must include the following
           information:
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   The property name and address, including the name of the county in which the
    property is located;
   The date of the mortgage maturity, rental assistance contract expiration, or
    affordability restriction expiration. The mortgage maturity or affordability
    restriction expiration date must be in FY 2015 (i.e., October 1, 2014 –
    September 30, 2015) or prior to FY 2015. The date of the rental assistance
    contract expiration must be before FY 2012 for RAP contracts and before
    FY 2000 for Rent Supplement contracts;
   A copy of all affordability restriction documents, rental assistance contracts,
    and renewals, and mortgage note documents related to the expired mortgage,
    contract or affordability restriction;
   A narrative statement explaining how the property meets the description of
    Category 1, Category 2 or Category 3, as defined in this Notice;
   Whether the owner is seeking enhanced vouchers or PBV assistance;
   A statement certifying that the owner is in compliance with the civil rights
    threshold requirements set forth at section 3 (“Eligibility”) of this Notice;
   A statement certifying that the applicable monthly rents used in calculation of
    at-risk and not at-risk households are accurate according to the terms set forth
    at section 5 (“Identifying At-Risk Households”) of this Notice;
   A list of unassisted units (identified by unit number and household name)
    currently occupied by at-risk households, and by households determined not
    to be at-risk. These households must have resided at the property at the time of
    the mortgage maturity, rental assistance contract expiration, or affordability
    restriction expiration (if such event happened prior to the owner’s request for
    assistance).
        o The list of at-risk households must be accompanied by a calculation
             that demonstrates that each at-risk household has an annual income
             equal to or less than HUD’s most recently issued low income limit,
             and the household would (in the absence of this voucher assistance)
             have to pay more than 30 percent of their adjusted monthly income
             for rent.
        o The list of households determined not to be at-risk must be
             accompanied by a calculation that demonstrates that each household
             has an annual income greater than HUD’s low income limit, or the
             household would not (in the absence of voucher assistance) have to
             pay more than 30 percent of their adjusted monthly income for rent.
        o The calculation for each list of households must include size of the
             household, household’s annual income, the applicable HUD low
             income limit for a household this size, the household’s adjusted
             monthly income, the applicable monthly rent of the unit (see section 5,
             step 5 for the different meanings of “applicable monthly rent”), and the
             percentage of the household’s adjusted monthly income spent on rent
             in the absence of this voucher assistance (applicable monthly rent/
             adjusted monthly income).
   For properties where the mortgage maturity, rental assistance contract
    expiration, or affordability restriction expiration happened before the owner
                                                                                              12

          submits the request for assistance, documentation (such as a lease) showing
          that the at-risk households and the households determined not to be at-risk
          resided at the property at the time of the mortgage maturity, rental
          assistance contract expiration, or affordability restriction expiration; and
          A list of unassisted units (identified by unit number and household name)
          currently occupied by households (that also resided at the property at the time
          of the mortgage maturity, rental assistance contract expiration, or affordability
          restriction expiration) that did not provide income information to the owner.
          (Please note that these households will not receive assistance through this
          Notice. For all residents identified in the owner’s request for assistance as a
          household that did not provide income information to the owner, the owner
          must maintain documentation showing that the family was notified in writing
          that their failure to provide income information to the owner means the family
          will not have the opportunity to receive rental assistance through this Notice.)

   Owners must provide all of the information listed above in their request for
   assistance. Owners may wish to refer to Attachment B for a sample format to provide
   the information required in the owner’s request for assistance. Owners may find the
   suggested format helpful, but are not required to use the format provided in
   Attachment B.

2. Once the Multifamily Hub/PC Director has received the owner’s complete request for
    assistance, the Multifamily Hub/PC Director or designee will review the applications
    to verify that:

   a) The property had or has a Section 202 Direct Loan or a Section 236 or 221(d)(3)-
   (d)(5) Below Market Interest Rate (BMIR) primary mortgage that matured (or will
   mature) in FY 2015 or prior to FY 2015. This includes loans where the permission of
   the Secretary was a requirement prior to mortgage prepayment, as well as loans where
   permission of the Secretary was not a requirement prior to prepayment. Please note:
   the Multifamily Hub/PC Director or designee must verify the mortgage maturity date
   (day, month, and year) by reviewing the actual mortgage note, affordability restriction
   or contract document. Staff should also verify that the mortgage was not prepaid prior
   to mortgage maturity; OR

   b) The owner’s RAP contract expired prior to FY 2012, or Rent Supplement contract
   expired prior to FY 2000. This includes verifying that the contract reached its
   expiration date, and did not terminate prior to the expiration date due to the
   prepayment of the underlying mortgage at the property; OR

   c) The property had an underlying HUD-imposed affordability restriction that expired
   (or will expire) in FY 2015 or prior to FY 2015. The Multifamily Hub/PC staff will
   verify that the affordability restriction was a HUD-imposed agreement. This may
   include, but is not limited to, the Preservation programs under the Title II Emergency
   Low Income Housing Preservation Act (ELIHPA) and the Low-Income Housing
   Preservation and Resident Homeownership Act (LIHPRHA), Section 236(e)(2)
                                                                                            13

Decoupling Use Agreement, Section 250 Prepayment Use Agreement, a Section 219
Prepayment Use Agreement, or an Interest Reduction Payments Agreement
associated with a state non-insured 236 mortgage. Please note: the Multifamily
Hub/PC Director or designee must verify this date (day, month, and year) by
reviewing the actual affordability restriction document. The Multifamily Hub/PC
Director or designee must also review the specific provisions of the affordability
restriction and mortgage note to verify that the expiration in fact removes/removed
affordability restrictions on unassisted units at the property;

d) The property does not, at the time of the request for assistance, have an active
Section 202 Direct Loan, or an active Section 221(d)(3)-(d)(5) or Section 236 FHA-
insured or HUD-held mortgage;

e) The property is located in a low-vacancy area (low-vacancy areas are listed in
Attachment A);

f) The number of households identified by the owner as at-risk households does not
exceed the total number of unassisted units at the property (in the case of a mortgage
maturity or affordability restriction expiration), or in the case of a Rent Supplement or
RAP contract expiration, the number of households identified by the owner as at-risk
households does not exceed the number of units on the original Rent Supplement or
RAP contract. If the application involves the expiration of a Rent Supplement or RAP
contract, the Multifamily Hub/PC Director or designee must review the Rent
Supplement or RAP contract to verify the number of units on the original contract. If
the number of households identified by the owner as at-risk households does exceed
the total number of unassisted units at the property (or the number of units on the
original Rent Supplement or RAP contract), the Multifamily Hub/PC Director or
designee must advise the owner to reduce the number of at-risk households to the
allowable amount (no more than the total number of unassisted units at the property
or the number of units on the original Rent Supplement or RAP contract) if the owner
wishes to be further considered for funding; and

g) The households identified by the owner as at-risk households, and the households
determined by the owner not to be at-risk, did reside at the property at the time of the
mortgage maturity, rental assistance contract expiration, or affordability restriction
expiration. If the documentation submitted in the owner’s request fails to
demonstrate that every household (at-risk and not at-risk) resided at the property at
the time of the mortgage maturity, rental assistance contract expiration, affordability
restriction expiration, the Multifamily Hub/PC Director or designee must advise the
owner to submit corrected documentation or remove these households from the
request if the owner wishes to be further considered for funding.

Applications that meet the above requirements shall be deemed acceptable to be
processed in accordance with the additional steps below. Please note: the
Multifamily Hub/PC Director or designee will not be responsible for verifying the
accuracy of the reported tenant income or the calculations of at-risk households.
                                                                                             14


   If the owner’s request for assistance does not meet the above requirements, the
   owner’s request for assistance will be denied. The Multifamily Hub/PC Director or
   designee will notify the owner of the denial of the request.

   Requests determined acceptable by the Multifamily Hub/PC Director or designee
   under step 2 will be processed in accordance with the additional steps below.

3. The Multifamily Hub/PC Director or designee will submit a copy of the owner’s
   request for assistance to the PH Field Office Director and request that the PH Field
   Office Director identify and invite a PHA (that currently administers the HCV
   program and has jurisdiction over the area in which the property is located) to
   administer the voucher assistance.

4. The PH Field Office Director or designee will determine the appropriate PHA to
   administer the assistance in accordance with established criteria for selection of PHA
   administration of tenant protection vouchers, including, but not limited to,
   jurisdiction, and PHA administrative capacity. The PHA will have the opportunity to
   agree or decline to administer the enhanced vouchers or PBV assistance.

5. For PBV requests: If the identified PHA does not wish to or is unable to administer
   PBV assistance, the PH Field Office Director or designee will make a reasonable
   effort to find a PHA with jurisdiction and administrative capacity willing to
   administer PBV assistance. Please note that any PHA willing to administer PBV
   assistance at this step is agreeing to do so in accordance with all the statutory and
   regulatory requirements of the PBV program (see section 7 below), including the
   statutory limit of 20 percent for the amount of the PHA’s HCV budget authority that
   may be project-based (see 24 CFR 983.6(a)). The PHA identified by the PH Field
   Office Director or designee at this step must also be willing to administer enhanced
   voucher assistance, in case the PHA determines that it will be unable to enter into a
   PBV HAP contract with the owner due to the statutory and regulatory requirements
   of the PBV program.

   If the invited PHA agrees to administer PBV assistance (and enhanced voucher
   assistance, if the PHA determines that that it will be unable to enter into a PBV HAP
   contract with the owner due to the statutory and regulatory requirements of the PBV
   program), the owner’s request for assistance will move on to step 7 below.

   If the PH Field Office Director or designee is unable to identify a PHA willing or able
   to administer PBV assistance, the owner’s request will move on to step 6 below in
   order to identify a PHA willing to administer enhanced voucher assistance.

6. For enhanced voucher requests: If the PH Field Office Director or designee is able to
   identify a PHA willing to administer the enhanced vouchers, the owner’s request for
   assistance will move on to step 7 below.
                                                                                          15

  If the PH Field Office Director or designee is unable to identify a PHA willing to
  administer enhanced vouchers, the owner’s request for assistance will be denied. The
  PH Field Office Director or designee will notify the Multifamily Hub/PC Director of
  the denial. The Multifamily Hub/PC Director or designee will then notify the owner
  of the denial.

7. The PH Field Office Director or designee provides a copy of the owner’s request
   for assistance to the PHA that agrees to administer the enhanced vouchers or PBV
   assistance.

8. The PHA must determine the eligibility of all at-risk households identified by the
   owner. For purposes of determining income eligibility, the PHA uses the applicable
   low income limits (not the very low income limits).

  The PHA’s administrative plan must allow for the provision of HCV assistance to
  these low-income families. If the PHA’s administrative plan does not currently
  provide for these low-income families to be eligible, the PHA must amend its
  administrative plan in order to administer the enhanced vouchers or PBV assistance.
  This administrative plan requirement is consistent with 24 CFR 982.201(b)(1)(iii).
  HUD will consider waivers of 24 CFR 982.201(b)(1)(iii) to allow a PHA to provide
  assistance to these low-income families without an amendment to the PHA’s
  administrative plan, when needed due to the timing of the conversion (for example,
  when the PHA is unable to amend its administrative plan before the HAP contract is
  signed).

  Additionally, households must meet the applicable rent burden threshold described in
  section 5 above to be eligible for assistance through this Notice. Specifically,
  households are only eligible for assistance through this Notice if applicable monthly
  rent for that household’s unit divided by the household’s adjusted monthly income (as
  calculated by the PHA in accordance with 24 CFR 5.611) is more than 30 percent
  (see section 5, step 5 for the different meanings of “applicable monthly rent”).

  The PHA must also notify all residents (still residing at the property) determined by
  the owner not to be at-risk, informing them that if they believe they meet the HCV
  income limits and applicable rent burden threshold, they may request to have their
  income calculated by the PHA for eligibility purposes. This notification does not
  include any of the households that did not provide income information to the owner
  (as identified in the owner’s request for assistance).

  Families admitted to the HCV program with enhanced vouchers are special
  admissions under 24 CFR 982.203 and are not subject to income-targeting
  requirements under 24 CFR 982.201(b)(2) for families selected from the PHA’s
  waiting list. Families admitted to the HCV program with PBV assistance must be
  selected from the PHA waiting list in accordance with 24 CFR 983.251(b)
  (“Protection of in-place families”) and are also not subject to the income-
  targeting requirements under 24 CFR 982.201(b)(2).
                                                                                                16


   In order to reduce processing time and where applicable, HUD will permit the PHA
   to use the owner’s most recent family income examination (form HUD-50059) if the
   owner’s current certification for the family (form HUD-50059) is no more than six
   months old and the PHA determines that the owner certifications are acceptable after
   reviewing a small sample for accuracy. The PHA is never required to use the owner
   certifications and may choose to conduct its own income determination and
   verification. PHAs should be aware that many owners will not have form HUD-
   50059 for the households being assisted through this Notice.

9. The PHA submits the Section 8 Tenant-Based Assistance Funding Application (Form
    HUD-52515) to the PH Field Office Director. The PHA is requested to enter the
    PHA’s code number (for example, CT002) as well as their electronic mail address,
    telephone number, and facsimile telephone number in the same place at the top of the
    form where they are also to enter the PHA’s name and mailing address. Instructions
    for completing the remainder of the form are as follows:
    a) Do not complete Section A.
    b) Under Section B of this form, only complete the box for total dwelling units under
    vouchers. Insert the number of eligible families as determined by the PHA’s
    eligibility determinations in step 8.
    c) Do not complete Section C.
    d) Under Section D of this form, the PHA must identify whether the assistance will be
    for enhanced vouchers or PBV assistance.

10. The PH Field Office Director or designee submits the PHA’s HUD-52515, as well as
    the owner’s request for assistance, to the HUD Office of Housing Voucher’s
    Financial Management Division (FMD) (at PIHConversionActions@hud.gov, with
    2015 TPV Set-Aside” in the subject line).

11. The FMD calculates the budget authority and assigns funds to the PHA, using the
    information from Section B of the HUD-52515 to determine the amount of funding
    the PHA will be assigned. The FMD also calculates the special fee for the
    extraordinary costs associated with administering the enhanced voucher or PBV
    assistance under this Notice. The fee will be $200 per unit for the higher number of
    units as determined below:

      a.   The number of at-risk households at the property that were identified in the
           owner’s request for assistance; or
      b.   The number of families that are eligible to receive assistance (as determined
           by the PHA in step 8 above, and identified in Section B of the HUD-52515).

   Please note that the amount of the special fee is subject to the availability of funds for
   this purpose. If necessary, HUD may amend the amount and method of calculation of
   the special fee by subsequent notice.
                                                                                                  17

       12. The Financial Management Center (FMC) prepares the ACC documents and ACC
          transmittal letter, and forwards these to the PHA with a copy of the letter to the PH
          Field Office Director.

7. Procedures for Processing PBV Assistance.

   After receiving the ACC documents and transmittal letter, the PHA must verify whether the
   owner’s request for PBV assistance meets the statutory and regulatory requirements of the
   PBV program, including the prohibition of assistance for ineligible units (24 CFR 983.53),
   prohibition of assistance for units in subsidized housing (24 CFR 983.54), prohibition of
   excess public assistance (24 CFR 983.55), the cap on number of PBV units in each building
   (24 CFR 983.56), site selection standards (24 CFR 983.57), the environmental review (24
   CFR 983.58), and all other program requirements, including all applicable fair housing and
   civil rights requirements. Please note that the owner’s property may be partially assisted with
   pre-existing Project-Based Section 8 contracts; units subsidized with such assistance may not
   be included in the PBV HAP contract (see 24 CFR 983.54(b)), and such units do not count
   against the 25 percent PBV cap for units in the building described at 24 CFR 983.56.

   Please note that only the units occupied by eligible families may be covered by the PBV HAP
   contract. Units that were occupied by at-risk households at the time of the owner’s request for
   assistance, and are either vacant or the occupant family was determined ineligible for
   admission to the HCV program at the time of the PHA’s eligibility determinations, must not
   be covered by the HAP contract.

       7.1 When a PHA is unable to enter into a PBV HAP contract with the owner. If the
       PHA determines that it will be unable to enter into a PBV HAP contract with the owner
       due to the statutory and regulatory requirements of the PBV program (e.g., the property
       does not meet the PHA’s site selection standards), then the funding provided to the PHA
       under this notice must be used to provide enhanced voucher assistance for all eligible
       families. Please see section 8 below for procedures for processing enhanced voucher
       assistance.

       7.2 When a PHA enters a PBV HAP contract for fewer units than requested. If the
       PHA determines that it will be able to enter into a PBV HAP contract, but there are more
       eligible families than there are eligible units under the PBV program (e.g., because the
       number of eligible families exceeds the 25 percent per building cap described at 24 CFR
       983.56), then the PHA will administer enhanced vouchers for the eligible families whose
       units are not eligible to be included in the property’s PBV HAP contract; please see
       section 8 below for procedures for processing enhanced voucher assistance. When the
       number of eligible families exceeds the number of eligible units under the PBV program,
       owners may decide which units will be included in the PBV HAP contract.

8. Procedures for Processing Enhanced Voucher Assistance. After receiving the ACC
   documents and transmittal letter, the PHA must issue vouchers to the eligible families. If any
   vouchers remain unused after issuance to the eligible families at the property (for example, if a
   family chooses to move from the property but is unable to successfully lease up under the
                                                                                                 18

program), the PHA retains the vouchers and may use them to assist families on the PHA
waiting list. If the PHA uses remaining voucher funding to assist families on the PHA
waiting list, the voucher is simply a regular voucher and does not have any enhanced
features.

    8.1 Characteristics of Enhanced Voucher Assistance. Enhanced vouchers have several
    special requirements but in all other respects are subject to normal housing choice voucher
    program rules. For example, the PHA may not make payments to the owner until after
    execution of the HAP contract on behalf of an individual family, and the assistance may
    not be paid to cover any period of time before the PHA inspection and determination that
    the unit meets the housing quality standards of the program.

    a) Enhanced voucher family right to remain. A family that receives an enhanced voucher
    has the right to remain in the project as long as the units are used for rental housing and
    are otherwise eligible for housing choice voucher assistance (e.g., the rent is reasonable,
    unit meets HQS, etc.). The owner may not terminate the tenancy of a family that
    exercises its right to remain except for a serious or repeated lease violation or other good
    cause. If an owner refuses to honor the family’s right to remain, the family may exercise
    any judicial remedy that is available under State and/or local law.

    b) Payment standard where the family chooses to stay in the same project.

           (1) Special payment standard. For a family that stays in the project, the payment
               standard used to calculate the voucher housing assistance payment is the
               gross rent (rent to owner plus the applicable PHA utility allowance for any
               tenant-supplied utilities) of the family's unit (provided the proposed rent to
               owner is reasonable), regardless of whether the gross rent exceeds the
               normally applicable PHA payment standard.

           (2) Rent reasonableness documentation and lease requirements. All regular
               program requirements concerning the reasonableness of the rent and the
               provisions of the HUD-prescribed lease addendum apply to enhanced
               vouchers. The PHA must determine that the proposed rent for the family's
               unit is reasonable. The PHA determines whether the proposed new rents for
               the property are reasonable just as it does for any other potential units under
               the tenant-based assistance programs.

               The PHA determines whether the rent requested by the owner is a reasonable
               rent for the unit in comparison to other comparable unassisted units based on
               the current condition of the unit. The PHA does not base the rent
               reasonableness determination on any planned future enhancements to the
               property. If the PHA determines the owner’s proposed new rent is not
               reasonable, the owner must either lower the rent or the family will have to
               find another unit in order to benefit from the voucher.
                                                                                                19

           The special payment standard for enhanced tenant-based assistance for a
           family that stays in the unit sometimes results in the PHA approving a tenancy
           for a unit that otherwise would be ineligible or unaffordable to a family with
           regular tenant-based assistance. If the rent is reasonable in comparison to the
           rents of comparable unassisted units, there is nothing improper or incorrect in
           approving the owner’s new rent even if the rent would not normally be
           affordable for a family with a regular voucher. However, it is very important
           for the PHA to make sure the owner’s new rent is reasonable and to properly
           document this determination. The PHA must document the rent
           reasonableness of the owner’s rent in the family’s file by including the rents
           and addresses of the comparable units used to make the determination. The
           PHA should use the guidance provided in Notice PIH 2011-46 when
           determining whether the rent is reasonable.

c) Family move: Normal payment standard is applicable. The normally applicable PHA
payment standard is always used to determine the family’s maximum voucher subsidy
when the family moves from the project. This includes cases where the proposed new
rent for the family's current unit is not reasonable or the unit fails HQS, requiring the
family to move in order to receive tenant-based assistance.

d) Enhanced voucher minimum rent requirement for stayers. Families assisted with
enhanced voucher assistance have a special statutory minimum rent requirement. A
family receiving enhanced voucher assistance under this set-aside must pay for rent no
less than the rent the family was paying on the date of the rental assistance contract
expiration, maturity of the mortgage and/or expiration of the affordability restriction
that removed the affordability restrictions at the property.

The enhanced voucher minimum rent only applies if the family remains in the project.
The enhanced voucher minimum rent does not apply if the family moves from the
project.

The method for calculating the minimum rent changes if the family’s income
subsequently decreases to a significant extent (15 percent or more) from the family’s
gross income on the effective date of the rental assistance contract expiration, maturity of
the mortgage and/or expiration of the affordability restriction that removed the
affordability restrictions at the property. The enhanced voucher minimum rent changes
from an actual dollar amount to a specific percentage of income.

The family’s new enhanced voucher minimum rent is the greater of (A) the percentage of
the monthly adjusted income the family paid for gross rent on the effective date of the
rental assistance contract expiration, maturity of the mortgage and/or expiration of the
affordability restriction that removed the affordability restrictions at the property, or (B)
30 percent of the family’s current adjusted monthly income.

Once this change in the enhanced voucher minimum rent becomes effective for a family,
the enhanced voucher minimum rent for the family remains that specific percentage of
                                                                                                 20

income (e.g., 32 percent) and will not revert to a specific dollar amount, even if the
family income subsequently increases or decreases.

For instance, assume a family paid $500 for gross rent on the effective date of the rental
assistance contract expiration, maturity of the mortgage and/or expiration of the
affordability restriction that removed the affordability restrictions at the property, which
equaled 35 percent of the family’s monthly adjusted income at that time. After receiving
enhanced voucher assistance for ten months, the family suffered a 50 percent decrease in
monthly gross income. The PHA now calculates the enhanced voucher minimum rent for
the family as the percentage of monthly adjusted income the family paid for rent on the
effective date of the rental assistance contract expiration, maturity of the mortgage and/or
expiration of the affordability restriction that removed the affordability restrictions at the
property (35 percent) instead of the actual dollar amount ($500). The enhanced voucher
family in this example must now pay at least 35 percent of the family monthly adjusted
income for rent, regardless of any further changes in family income.

When a family reports a significant decrease in family income, the PHA conducts an
interim redetermination and verifies the change in income as soon as possible to prevent
hardship on the family, preferably by the first of the month following the date the family
reports the change and provides the necessary documentation. The PHA may implement
the reduction on a provisional basis before completing the verification in order to prevent
undue hardship to the family.

The change in the determination of the enhanced voucher minimum rent only applies if a
family suffers a significant loss of income (at least a 15 percent decrease in the gross
family income on the date of the rental assistance contract expiration, maturity of the
mortgage and/or expiration of the affordability restriction that removed the affordability
restrictions at the property). Otherwise, the enhanced voucher minimum rent remains the
specific dollar amount.

Regardless of which method is used to calculate the enhanced voucher minimum rent, the
minimum rent represents the lowest amount the family may pay as their family share for
as long as the family remains in the project. A family may pay no less than the enhanced
voucher minimum rent. Depending on the circumstances, the family may have to pay
more than the enhanced voucher minimum rent.

e) Calculating HAP for enhanced voucher assistance. Regardless of whether the owner’s
new gross rent (after the rental assistance contract expiration, maturity of the mortgage
and/or expiration of the affordability restriction that removed the affordability restrictions
at the property) exceeds or is less than the PHA payment standard, the housing assistance
payment for a family that stays in their present unit (or moves from an oversized unit to
an appropriate size unit within the project) is the following:

the gross rent for the unit minus the greatest of:
(i) 30 percent of the adjusted family monthly income;
(ii) 10 percent of the family monthly income (gross monthly income);
                                                                                               21

(iii) the welfare rent in as-paid states;
(iv) the enhanced voucher minimum rent; or
(v) such other minimum rent established by the PHA as authorized by Federal law
(see 24 CFR §5.630.)

f) Movers from the project – all regular housing choice voucher rules apply. If a resident
decides to move from the project with the voucher assistance, the payment standard is not
enhanced and the enhanced voucher minimum rent does not apply. This is the case when
the family chooses to use the voucher to move from the property immediately, or if after
receiving enhanced voucher assistance for a period of time the family chooses to
subsequently move from the unit with continued voucher assistance. In either
circumstance, the housing assistance payment and the family share at the new unit are
calculated in accordance with the regular rules of the housing choice voucher program.

g) Administering voucher assistance. The special conditions of enhanced voucher
assistance (enhanced voucher minimum rent and the special payment standard rules) are
applicable for as long as the family receives voucher assistance at the project.

If an owner subsequently raises the rent for an enhanced voucher family in accordance
with the lease, State and local law, and voucher program regulations (including rent
reasonableness), the PHA will use the new gross rent to calculate the voucher HAP
payment for the family.

The PHA must identify an eligible family as an enhanced voucher family even if the
gross rent of the family’s unit does not currently exceed the normally applicable PHA
payment standard. Since the enhanced payment standard rule also covers any subsequent
rent increases, it is possible that the special payment standard may come into play later in
the family’s tenancy. An enhanced voucher family is also required by law to pay no less
than the enhanced voucher minimum rent, regardless of whether the gross rent exceeds
the normally applicable PHA payment standard.

       (1) Enhanced voucher minimum rent. The enhanced voucher minimum rent
           requirement remains in effect for all families who receive enhanced voucher
           assistance and remain at the property.

       (2) Special payment standard. Subject to availability of appropriations, the
           payment standard used to calculate the family subsidy will continue to be
           enhanced to match the gross rent for the unit if the gross rent exceeds the
           normally applicable payment standard and the PHA determines the rent is
           reasonable for as long as the enhanced voucher family continues to reside in
           the same project.

           If the owner raises the rent for a family assisted with an enhanced voucher in
           accordance with the lease, State and local law, and voucher program
           regulations, the PHA will increase the enhanced payment standard to equal the
           new gross rent (rent to owner and the applicable PHA utility allowance for
                                                                                                   22

                      any tenant-supplied utilities) for the unit provided the PHA determines the
                      rent is reasonable. The additional cost of the subsidy will be covered through
                      the regular renewal process for the PHA’s voucher program.

                      If a change in the PHA utility allowance (either an increase or decrease)
                      affects the gross rent for a family assisted with an enhanced voucher, the
                      PHA must adjust the enhanced payment standard accordingly. The enhanced
                      payment standard may never exceed the gross rent for the assisted family’s
                      unit.

                      Again, it is emphasized that the PHA always applies the normally applicable
                      payment standard if the family subsequently moves from the project.

              (3) Over-housed families. For the enhanced voucher policies that are applicable
                  to families residing in units where the actual number of bedrooms exceeds
                  the family unit size for which the family qualifies under the PHA subsidy
                  standards (i.e., “over-housed families”), please see Notice PIH 2008-12
                  (extended by Notice PIH 2011-20).

9. Paperwork Reduction Act. The information collection requirements contained in this
   document have been approved by the Office of Management and Budget (OMB) under the
   Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520). The OMB control numbers are
   2577-0169, 2502-0204, and 2502-0086. In accordance with the Paperwork Reduction Act,
   HUD may not conduct or sponsor, and a person is not required to respond to, a collection of
   information unless the collection displays a currently valid OMB control number.

10.     Further Information. Any questions concerning this Notice should be directed to the
   Housing Voucher Management and Operations Division, Office of Public Housing and
   Voucher Programs, at (202) 708-0477 (this is not a toll-free number). Persons with hearing
   or speech impairments may access these numbers via TTY by calling the toll-free Federal
   Information Relay Service at (800) 877-8339.




              /   s     /                                              /   s   /
  Lourdes Castro Ramírez                                        Edward L. Golding
  Principal Deputy Assistant Secretary                          Principal Deputy Assistant Secretary
   for Public and Indian Housing                                 for Housing
                                                                                             23

Attachment A

Low Vacancy Areas:

A property meets the low-vacancy threshold if it is located in a county (or county equivalent)
with a rental vacancy rate (as measured by the 2009-2013 American Community Survey (ACS))
that is below the thresholds identified in the table below. For example, in a market with slow
population growth (population growth of one percent annually or less), HUD, for the purposes of
this notice, has determined that market to be a Low Vacancy Area if the rental vacancy rate in
the county is less than or equal to 5.9 percent.


Note, for the purposes of this Notice, all 5 NYC boroughs are considered as one “county” and
are coded in the table below as “36NYC” in the FIPS column. Also, annual population growth is
calculated as the average annual population growth for each county from 2010-2011, 20112012,
and 2012-2013 as estimated by the 2013 US Population Estimates Program. Finally, given the
lack of data for insular areas, all insular areas (other than Puerto Rico) are considered as low
vacancy areas for the purposes of this Notice.


                                    Low Vacancy Area
                           Annual Population  Rental Vacancy
                               Growth               Rate
                                 Slow (<=1%)      <=5.9%
                            Moderate (1-2.9%)     <=7.4%
                                Rapid (>=3%)      <=9.0%


                                                              Average         Rental
                                                              Annual       Vacancy Rate
         County                                              Population     (ACS 2009-
                                County Name
        FIPS Code                                             Growth          2013)
                                                            (2010-2013)
         01001      Autauga County, Alabama                        0.39%            4.7%
         01007      Bibb County, Alabama                          -0.54%            4.2%
         01011      Bullock County, Alabama                       -0.74%            2.8%
         01013      Butler County, Alabama                        -1.09%            5.6%
         01023      Choctaw County, Alabama                       -1.03%            0.0%
         01025      Clarke County, Alabama                        -0.75%            2.8%
         01029      Cleburne County, Alabama                       0.06%            4.3%
         01035      Conecuh County, Alabama                       -0.84%            5.1%
         01041      Crenshaw County, Alabama                       0.29%            4.6%
         01043      Cullman County, Alabama                        0.15%            4.8%
         01047      Dallas County, Alabama                        -1.42%            4.7%
                                                                             24


                                                  Average        Rental
                                                  Annual      Vacancy Rate
 County                                          Population    (ACS 2009-
                        County Name
FIPS Code                                         Growth         2013)
                                                (2010-2013)
 01053      Escambia County, Alabama                 -0.29%           4.6%
 01055      Etowah County, Alabama                   -0.18%           5.8%
 01057      Fayette County, Alabama                  -0.66%           2.6%
 01061      Geneva County, Alabama                   -0.08%           3.3%
 01063      Greene County, Alabama                   -0.92%           5.9%
 01065      Hale County, Alabama                     -0.69%           3.2%
 01067      Henry County, Alabama                     0.01%           5.3%
 01075      Lamar County, Alabama                    -0.61%           2.8%
 01079      Lawrence County, Alabama                 -0.71%           2.8%
 01081      Lee County, Alabama                       2.33%           6.0%
 01091      Marengo County, Alabama                  -1.27%           0.6%
 01099      Monroe County, Alabama                   -1.12%           5.5%
 01103      Morgan County, Alabama                    0.07%           2.9%
 01105      Perry County, Alabama                    -1.65%           4.6%
 01107      Pickens County, Alabama                  -0.51%           3.9%
 01109      Pike County, Alabama                      0.38%           5.1%
 01111      Randolph County, Alabama                 -0.30%           5.7%
 01119      Sumter County, Alabama                   -0.94%           1.9%
 01123      Tallapoosa County, Alabama               -0.23%           2.4%
 01127      Walker County, Alabama                   -0.50%           1.2%
 01129      Washington County, Alabama               -1.39%           0.0%
 01131      Wilcox County, Alabama                   -0.80%           2.4%
 01133      Winston County, Alabama                  -0.36%           1.8%
 02013      Aleutians East Borough, Alaska           -0.70%           2.5%
 02020      Anchorage Municipality, Alaska            0.86%           4.2%
 02050      Bethel Census Area, Alaska                1.33%           7.0%
 02068      Denali Borough, Alaska                    0.71%           5.0%
 02100      Haines Borough, Alaska                    1.08%           7.1%
 02110      Juneau City and Borough, Alaska           1.34%           4.7%
 02150      Kodiak Island Borough, Alaska             1.24%           1.6%
 02170      Matanuska-Susitna Borough, Alaska         1.97%           5.1%
 02180      Nome Census Area, Alaska                  1.22%           5.7%
 02185      North Slope Borough, Alaska               0.77%           5.7%
 02188      Northwest Arctic Borough, Alaska          0.68%           4.5%
 02220      Sitka City and Borough, Alaska            0.46%           4.5%
 02230      Skagway Municipality, Alaska              1.04%           6.5%
                                                                            25


                                                 Average        Rental
                                                 Annual      Vacancy Rate
 County                                         Population    (ACS 2009-
                       County Name
FIPS Code                                        Growth         2013)
                                               (2010-2013)
 02270      Wade Hampton Census Area, Alaska         2.20%           2.5%
 02282      Yakutat City and Borough, Alaska        -0.91%           3.6%
 04005      Coconino County, Arizona                 0.65%           5.5%
 04017      Navajo County, Arizona                  -0.09%           5.2%
 04025      Yavapai County, Arizona                  0.79%           5.8%
 05007      Benton County, Arkansas                  2.11%           7.1%
 05025      Cleveland County, Arkansas              -0.37%           0.7%
 05031      Craighead County, Arkansas               1.61%           7.3%
 05039      Dallas County, Arkansas                 -0.55%           2.3%
 05047      Franklin County, Arkansas               -0.17%           5.2%
 05055      Greene County, Arkansas                  0.71%           3.2%
 05059      Hot Spring County, Arkansas              0.36%           0.4%
 05061      Howard County, Arkansas                 -0.59%           4.9%
 05063      Independence County, Arkansas            0.17%           4.9%
 05071      Johnson County, Arkansas                 0.40%           3.1%
 05085      Lonoke County, Arkansas                  0.99%           5.9%
 05095      Monroe County, Arkansas                 -1.84%           5.8%
 05097      Montgomery County, Arkansas             -0.93%           3.0%
 05101      Newton County, Arkansas                 -1.05%           2.5%
 05105      Perry County, Arkansas                  -0.30%           4.9%
 05113      Polk County, Arkansas                   -0.45%           1.8%
 05121      Randolph County, Arkansas               -0.48%           4.0%
 05125      Saline County, Arkansas                  2.06%           6.7%
 05127      Scott County, Arkansas                  -0.94%           5.3%
 05129      Searcy County, Arkansas                 -0.66%           5.7%
 05133      Sevier County, Arkansas                  0.44%           5.5%
 05137      Stone County, Arkansas                   0.44%           5.4%
 05141      Van Buren County, Arkansas              -0.71%           1.3%
 05149      Yell County, Arkansas                   -0.41%           5.7%
 06001      Alameda County, California               1.42%           4.3%
 06007      Butte County, California                 0.33%           4.8%
 06011      Colusa County, California               -0.16%           3.8%
 06013      Contra Costa County, California          1.30%           5.2%
 06015      Del Norte County, California            -0.83%           4.1%
 06021      Glenn County, California                -0.19%           2.8%
 06023      Humboldt County, California             -0.13%           5.2%
                                                                              26


                                                   Average        Rental
                                                   Annual      Vacancy Rate
 County                                           Population    (ACS 2009-
                        County Name
FIPS Code                                          Growth         2013)
                                                 (2010-2013)
 06025      Imperial County, California                0.35%           5.5%
 06027      Inyo County, California                   -0.12%           1.5%
 06031      Kings County, California                  -0.32%           5.0%
 06037      Los Angeles County, California             0.64%           4.4%
 06039      Madera County, California                  0.27%           5.4%
 06041      Marin County, California                   0.72%           3.4%
 06045      Mendocino County, California              -0.22%           3.2%
 06049      Modoc County, California                  -1.95%           3.4%
 06053      Monterey County, California                0.99%           4.0%
 06059      Orange County, California                  1.05%           4.5%
 06061      Placer County, California                  1.61%           5.8%
 06065      Riverside County, California               1.35%           7.3%
 06069      San Benito County, California              1.22%           1.7%
 06073      San Diego County, California               1.14%           4.7%
 06075      San Francisco County, California           1.30%           3.7%
 06079      San Luis Obispo County, California         0.79%           3.8%
 06081      San Mateo County, California               1.26%           3.1%
 06083      Santa Barbara County, California           0.89%           3.3%
 06085      Santa Clara County, California             1.39%           3.1%
 06087      Santa Cruz County, California              0.77%           4.0%
 06091      Sierra County, California                 -1.83%           4.8%
 06093      Siskiyou County, California               -0.88%           3.8%
 06097      Sonoma County, California                  0.71%           4.8%
 06101      Sutter County, California                  0.19%           4.7%
 06103      Tehama County, California                 -0.31%           5.1%
 06107      Tulare County, California                  0.81%           5.0%
 06111      Ventura County, California                 0.57%           3.8%
 06113      Yolo County, California                    0.57%           4.0%
 08001      Adams County, Colorado                     1.90%           6.5%
 08003      Alamosa County, Colorado                   0.74%           5.3%
 08005      Arapahoe County, Colorado                  1.84%           5.9%
 08013      Boulder County, Colorado                   1.52%           3.1%
 08014      Broomfield County, Colorado                1.97%           5.9%
 08021      Conejos County, Colorado                   0.00%           3.0%
 08031      Denver County, Colorado                    2.48%           5.2%
 08035      Douglas County, Colorado                   2.17%           5.4%
                                                                             27


                                                  Average        Rental
                                                  Annual      Vacancy Rate
 County                                          Population    (ACS 2009-
                         County Name
FIPS Code                                         Growth         2013)
                                                (2010-2013)
 08041      El Paso County, Colorado                  1.49%           5.6%
 08043      Fremont County, Colorado                 -0.30%           3.1%
 08047      Gilpin County, Colorado                   0.81%           5.1%
 08059      Jefferson County, Colorado                1.02%           4.4%
 08065      Lake County, Colorado                     0.19%           4.8%
 08069      Larimer County, Colorado                  1.69%           4.1%
 08077      Mesa County, Colorado                     0.25%           3.1%
 08083      Montezuma County, Colorado                0.14%           4.6%
 08087      Morgan County, Colorado                   0.30%           4.6%
 08095      Phillips County, Colorado                -0.77%           5.4%
 08105      Rio Grande County, Colorado              -0.60%           0.9%
 08109      Saguache County, Colorado                 0.43%           1.8%
 08119      Teller County, Colorado                  -0.26%           5.3%
 08123      Weld County, Colorado                     2.02%           6.5%
 09005      Litchfield County, Connecticut           -0.50%           4.9%
 09011      New London County, Connecticut            0.01%           5.9%
 11001      District of Columbia, District of         2.23%           6.4%
 12019      Columbia
            Clay County, Florida                      0.86%           5.4%
 12029      Dixie County, Florida                    -0.95%           3.6%
 12035      Flagler County, Florida                   1.33%           3.4%
 12041      Gilchrist County, Florida                -0.10%           5.3%
 12067      Lafayette County, Florida                 0.12%           2.1%
 12077      Liberty County, Florida                   0.04%           4.3%
 12129      Wakulla County, Florida                   0.19%           4.9%
 12131      Walton County, Florida                    2.67%           6.3%
 13001      Appling County, Georgia                   0.19%           4.4%
 13005      Bacon County, Georgia                     0.39%           2.5%
 13019      Berrien County, Georgia                  -0.50%           2.8%
 13027      Brooks County, Georgia                   -1.41%           3.1%
 13065      Clinch County, Georgia                    0.05%           5.0%
 13069      Coffee County, Georgia                    0.37%           3.0%
 13077      Coweta County, Georgia                    1.35%           7.2%
 13085      Dawson County, Georgia                    0.56%           1.8%
 13099      Early County, Georgia                    -1.29%           2.9%
 13109      Evans County, Georgia                    -0.51%           5.9%
 13131      Grady County, Georgia                     0.31%           2.3%
                                                                      28


                                           Average        Rental
                                           Annual      Vacancy Rate
 County                                   Population    (ACS 2009-
                        County Name
FIPS Code                                  Growth         2013)
                                         (2010-2013)
 13145      Harris County, Georgia             0.51%           4.5%
 13147      Hart County, Georgia               0.33%           5.6%
 13155      Irwin County, Georgia             -0.58%           3.7%
 13159      Jasper County, Georgia            -0.72%           3.2%
 13163      Jefferson County, Georgia         -1.13%           4.5%
 13173      Lanier County, Georgia             1.03%           5.0%
 13177      Lee County, Georgia                0.75%           4.1%
 13185      Lowndes County, Georgia            0.98%           5.2%
 13187      Lumpkin County, Georgia            0.66%           5.6%
 13199      Meriwether County, Georgia        -0.95%           4.2%
 13205      Mitchell County, Georgia          -0.66%           2.3%
 13207      Monroe County, Georgia             0.67%           5.7%
 13219      Oconee County, Georgia             1.03%           5.3%
 13229      Pierce County, Georgia             0.24%           4.0%
 13231      Pike County, Georgia              -0.24%           2.7%
 13243      Randolph County, Georgia          -2.10%           0.0%
 13249      Schley County, Georgia             0.46%           2.8%
 13253      Seminole County, Georgia           0.80%           2.5%
 13259      Stewart County, Georgia           -1.32%           1.2%
 13263      Talbot County, Georgia            -1.87%           4.6%
 13265      Taliaferro County, Georgia        -0.13%           0.0%
 13273      Terrell County, Georgia           -1.13%           5.6%
 13275      Thomas County, Georgia             0.09%           4.4%
 13287      Turner County, Georgia            -3.11%           0.8%
 13293      Upson County, Georgia             -0.61%           3.9%
 13297      Walton County, Georgia             0.66%           5.7%
 13299      Ware County, Georgia              -0.61%           5.6%
 13301      Warren County, Georgia            -1.37%           0.5%
 13305      Wayne County, Georgia             -0.04%           4.7%
 13315      Wilcox County, Georgia            -1.12%           1.8%
 13317      Wilkes County, Georgia            -1.54%           1.4%
 13319      Wilkinson County, Georgia         -0.29%           5.3%
 15003      Honolulu County, Hawaii            0.94%           5.0%
 15005      Kalawao County, Hawaii             0.00%           4.2%
 16001      Ada County, Idaho                  1.91%           4.9%
 16007      Bear Lake County, Idaho           -0.13%           5.0%
                                                                       29


                                            Average        Rental
                                            Annual      Vacancy Rate
 County                                    Population    (ACS 2009-
                        County Name
FIPS Code                                   Growth         2013)
                                          (2010-2013)
 16015      Boise County, Idaho                -1.08%           3.1%
 16017      Bonner County, Idaho               -0.19%           4.4%
 16027      Canyon County, Idaho                1.65%           7.3%
 16029      Caribou County, Idaho              -0.80%           4.8%
 16041      Franklin County, Idaho              0.20%           0.0%
 16047      Gooding County, Idaho              -0.85%           4.4%
 16051      Jefferson County, Idaho             0.87%           2.6%
 16053      Jerome County, Idaho                0.09%           3.5%
 16055      Kootenai County, Idaho              1.27%           6.0%
 16057      Latah County, Idaho                 0.71%           2.2%
 16061      Lewis County, Idaho                 0.72%           1.3%
 16065      Madison County, Idaho              -0.13%           3.6%
 16067      Minidoka County, Idaho              0.33%           5.7%
 16069      Nez Perce County, Idaho             0.51%           4.6%
 16071      Oneida County, Idaho               -0.16%           0.0%
 16073      Owyhee County, Idaho               -0.01%           5.9%
 16087      Washington County, Idaho           -0.81%           4.9%
 17001      Adams County, Illinois             -0.02%           4.2%
 17007      Boone County, Illinois             -0.12%           1.1%
 17009      Brown County, Illinois             -0.25%           1.9%
 17015      Carroll County, Illinois           -0.99%           3.8%
 17017      Cass County, Illinois              -0.78%           4.2%
 17021      Christian County, Illinois         -0.47%           5.8%
 17023      Clark County, Illinois             -0.23%           4.3%
 17025      Clay County, Illinois              -0.63%           1.2%
 17027      Clinton County, Illinois            0.06%           4.7%
 17035      Cumberland County, Illinois        -0.30%           4.6%
 17037      DeKalb County, Illinois            -0.12%           4.2%
 17039      De Witt County, Illinois           -0.31%           5.1%
 17041      Douglas County, Illinois           -0.12%           5.2%
 17045      Edgar County, Illinois             -0.99%           3.2%
 17053      Ford County, Illinois              -0.58%           3.7%
 17055      Franklin County, Illinois          -0.33%           5.7%
 17061      Greene County, Illinois            -0.59%           1.8%
 17065      Hamilton County, Illinois          -0.32%           3.2%
 17069      Hardin County, Illinois            -0.96%           2.5%
                                                                       30


                                            Average        Rental
                                            Annual      Vacancy Rate
 County                                    Population    (ACS 2009-
                       County Name
FIPS Code                                   Growth         2013)
                                          (2010-2013)
 17071      Henderson County, Illinois         -1.55%           3.0%
 17073      Henry County, Illinois             -0.38%           3.3%
 17075      Iroquois County, Illinois          -0.77%           3.6%
 17079      Jasper County, Illinois            -0.39%           5.7%
 17081      Jefferson County, Illinois         -0.13%           3.8%
 17087      Johnson County, Illinois            0.18%           4.2%
 17093      Kendall County, Illinois            1.18%           4.9%
 17095      Knox County, Illinois              -0.53%           3.9%
 17099      LaSalle County, Illinois           -0.49%           5.0%
 17101      Lawrence County, Illinois          -0.56%           3.1%
 17107      Logan County, Illinois             -0.36%           4.1%
 17109      McDonough County, Illinois         -0.12%           5.8%
 17119      Madison County, Illinois           -0.25%           5.7%
 17121      Marion County, Illinois            -0.68%           5.1%
 17123      Marshall County, Illinois          -1.28%           5.8%
 17125      Mason County, Illinois             -0.90%           0.9%
 17131      Mercer County, Illinois            -0.51%           2.7%
 17135      Montgomery County, Illinois        -0.49%           1.5%
 17137      Morgan County, Illinois            -0.46%           2.1%
 17139      Moultrie County, Illinois           0.07%           4.7%
 17149      Pike County, Illinois              -0.51%           2.8%
 17151      Pope County, Illinois              -1.09%           2.1%
 17153      Pulaski County, Illinois           -1.27%           4.8%
 17155      Putnam County, Illinois            -1.08%           2.1%
 17159      Richland County, Illinois          -0.05%           4.9%
 17163      St. Clair County, Illinois         -0.43%           4.2%
 17165      Saline County, Illinois             0.00%           1.2%
 17167      Sangamon County, Illinois           0.22%           5.4%
 17171      Scott County, Illinois             -0.70%           1.8%
 17181      Union County, Illinois             -0.33%           4.8%
 17189      Washington County, Illinois        -0.57%           5.1%
 17201      Winnebago County, Illinois         -0.51%           5.5%
 17203      Woodford County, Illinois           0.54%           4.0%
 18005      Bartholomew County, Indiana         1.17%           4.1%
 18011      Boone County, Indiana               2.10%           6.9%
 18013      Brown County, Indiana              -0.41%           0.0%
                                                                      31


                                           Average        Rental
                                           Annual      Vacancy Rate
 County                                   Population    (ACS 2009-
                        County Name
FIPS Code                                  Growth         2013)
                                         (2010-2013)
 18015      Carroll County, Indiana           -0.12%           5.6%
 18017      Cass County, Indiana              -0.46%           5.7%
 18021      Clay County, Indiana              -0.09%           2.3%
 18045      Fountain County, Indiana          -0.74%           5.9%
 18049      Fulton County, Indiana            -0.60%           4.4%
 18063      Hendricks County, Indiana          1.80%           6.3%
 18079      Jennings County, Indiana          -0.26%           3.6%
 18081      Johnson County, Indiana            1.29%           5.3%
 18105      Monroe County, Indiana             0.80%           4.0%
 18109      Morgan County, Indiana             0.32%           5.2%
 18111      Newton County, Indiana            -0.41%           5.8%
 18117      Orange County, Indiana            -0.07%           5.9%
 18119      Owen County, Indiana              -0.59%           4.1%
 18121      Parke County, Indiana             -0.16%           2.1%
 18125      Pike County, Indiana              -0.43%           4.9%
 18145      Shelby County, Indiana             0.27%           5.7%
 18147      Spencer County, Indiana            0.09%           4.7%
 18157      Tippecanoe County, Indiana         1.37%           4.7%
 18159      Tipton County, Indiana            -0.47%           0.0%
 18171      Warren County, Indiana            -0.34%           4.0%
 18175      Washington County, Indiana        -0.60%           3.7%
 19009      Audubon County, Iowa              -1.29%           5.6%
 19023      Butler County, Iowa                0.27%           3.1%
 19031      Cedar County, Iowa                -0.22%           2.0%
 19033      Cerro Gordo County, Iowa          -0.40%           3.3%
 19035      Cherokee County, Iowa             -0.51%           5.5%
 19037      Chickasaw County, Iowa            -0.25%           3.1%
 19039      Clarke County, Iowa                0.08%           3.0%
 19043      Clayton County, Iowa              -0.59%           5.9%
 19049      Dallas County, Iowa                3.84%           5.9%
 19051      Davis County, Iowa                 0.00%           2.4%
 19065      Fayette County, Iowa              -0.59%           4.6%
 19067      Floyd County, Iowa                -0.47%           2.6%
 19069      Franklin County, Iowa             -0.43%           3.5%
 19071      Fremont County, Iowa              -1.55%           1.9%
 19075      Grundy County, Iowa               -0.35%           5.5%
                                                                     32


                                          Average        Rental
                                          Annual      Vacancy Rate
 County                                  Population    (ACS 2009-
                       County Name
FIPS Code                                 Growth         2013)
                                        (2010-2013)
 19089      Howard County, Iowa              -0.11%           3.5%
 19091      Humboldt County, Iowa            -0.39%           3.5%
 19095      Iowa County, Iowa                 0.02%           3.1%
 19097      Jackson County, Iowa             -0.41%           2.7%
 19101      Jefferson County, Iowa            0.05%           4.4%
 19103      Johnson County, Iowa              1.97%           2.7%
 19105      Jones County, Iowa               -0.12%           5.3%
 19117      Lucas County, Iowa               -0.56%           3.6%
 19123      Mahaska County, Iowa              0.03%           5.3%
 19127      Marshall County, Iowa             0.26%           5.5%
 19131      Mitchell County, Iowa            -0.24%           3.9%
 19141      O'Brien County, Iowa             -0.83%           2.9%
 19149      Plymouth County, Iowa            -0.01%           5.7%
 19153      Polk County, Iowa                 1.47%           4.5%
 19157      Poweshiek County, Iowa           -0.53%           5.2%
 19159      Ringgold County, Iowa            -0.38%           2.5%
 19165      Shelby County, Iowa              -0.57%           3.4%
 19169      Story County, Iowa                1.04%           2.2%
 19175      Union County, Iowa                0.21%           4.6%
 19181      Warren County, Iowa               0.73%           4.4%
 19183      Washington County, Iowa           0.49%           3.7%
 19187      Webster County, Iowa             -0.73%           5.1%
 19191      Winneshiek County, Iowa          -0.12%           3.7%
 19193      Woodbury County, Iowa            -0.07%           5.6%
 19195      Worth County, Iowa               -0.16%           3.6%
 20003      Anderson County, Kansas          -0.85%           0.0%
 20009      Barton County, Kansas            -0.21%           3.9%
 20013      Brown County, Kansas              0.06%           4.3%
 20015      Butler County, Kansas            -0.06%           5.8%
 20019      Chautauqua County, Kansas        -0.87%           5.4%
 20023      Cheyenne County, Kansas          -0.32%           4.1%
 20031      Coffey County, Kansas            -0.70%           0.6%
 20033      Comanche County, Kansas           1.21%           6.3%
 20035      Cowley County, Kansas            -0.09%           5.9%
 20039      Decatur County, Kansas           -0.19%           0.0%
 20041      Dickinson County, Kansas         -0.32%           3.1%
                                                                       33


                                            Average        Rental
                                            Annual      Vacancy Rate
 County                                    Population    (ACS 2009-
                       County Name
FIPS Code                                   Growth         2013)
                                          (2010-2013)
 20043      Doniphan County, Kansas            -0.43%           3.6%
 20045      Douglas County, Kansas              0.91%           5.7%
 20047      Edwards County, Kansas             -1.15%           3.3%
 20051      Ellis County, Kansas                0.72%           4.4%
 20053      Ellsworth County, Kansas           -0.57%           3.0%
 20055      Finney County, Kansas               0.14%           4.9%
 20065      Graham County, Kansas              -0.22%           0.0%
 20067      Grant County, Kansas                0.44%           3.3%
 20071      Greeley County, Kansas              0.90%           2.6%
 20075      Hamilton County, Kansas            -1.11%           5.7%
 20079      Harvey County, Kansas              -0.04%           4.2%
 20083      Hodgeman County, Kansas             0.75%           1.2%
 20085      Jackson County, Kansas             -0.30%           4.6%
 20087      Jefferson County, Kansas           -0.54%           5.5%
 20091      Johnson County, Kansas              1.28%           5.2%
 20095      Kingman County, Kansas              0.01%           3.0%
 20107      Linn County, Kansas                -0.41%           3.3%
 20109      Logan County, Kansas                0.33%           4.6%
 20117      Marshall County, Kansas            -0.34%           5.5%
 20125      Montgomery County, Kansas          -1.02%           5.4%
 20127      Morris County, Kansas              -0.97%           3.6%
 20129      Morton County, Kansas              -0.87%           2.8%
 20143      Ottawa County, Kansas              -0.28%           1.7%
 20145      Pawnee County, Kansas              -0.08%           5.6%
 20149      Pottawatomie County, Kansas         1.45%           6.1%
 20151      Pratt County, Kansas                0.80%           5.0%
 20155      Reno County, Kansas                -0.19%           5.3%
 20157      Republic County, Kansas            -0.92%           1.7%
 20163      Rooks County, Kansas                0.12%           4.4%
 20165      Rush County, Kansas                -1.32%           0.0%
 20167      Russell County, Kansas             -0.24%           4.9%
 20169      Saline County, Kansas              -0.01%           5.5%
 20171      Scott County, Kansas                0.57%           0.0%
 20175      Seward County, Kansas               0.57%           3.1%
 20181      Sherman County, Kansas              0.58%           0.0%
 20183      Smith County, Kansas               -1.34%           4.8%
                                                                       34


                                            Average        Rental
                                            Annual      Vacancy Rate
 County                                    Population    (ACS 2009-
                        County Name
FIPS Code                                   Growth         2013)
                                          (2010-2013)
 20193      Thomas County, Kansas               0.03%           2.5%
 20199      Wallace County, Kansas              1.90%           5.5%
 20205      Wilson County, Kansas              -1.03%           4.3%
 20207      Woodson County, Kansas             -0.81%           4.9%
 21001      Adair County, Kentucky              0.20%           2.8%
 21003      Allen County, Kentucky              0.44%           3.9%
 21007      Ballard County, Kentucky            0.29%           1.7%
 21013      Bell County, Kentucky              -0.96%           3.4%
 21017      Bourbon County, Kentucky            0.05%           3.2%
 21021      Boyle County, Kentucky              0.49%           3.2%
 21025      Breathitt County, Kentucky         -0.76%           4.1%
 21029      Bullitt County, Kentucky            1.04%           7.4%
 21037      Campbell County, Kentucky           0.16%           5.0%
 21039      Carlisle County, Kentucky          -0.64%           1.7%
 21041      Carroll County, Kentucky            0.45%           2.9%
 21049      Clark County, Kentucky              0.01%           4.0%
 21051      Clay County, Kentucky              -0.50%           2.5%
 21053      Clinton County, Kentucky           -0.43%           4.0%
 21055      Crittenden County, Kentucky        -0.18%           3.9%
 21067      Fayette County, Kentucky            1.30%           5.8%
 21071      Floyd County, Kentucky             -1.02%           5.2%
 21081      Grant County, Kentucky              0.09%           4.8%
 21083      Graves County, Kentucky             0.22%           4.4%
 21085      Grayson County, Kentucky            0.27%           4.0%
 21087      Green County, Kentucky             -0.13%           5.0%
 21089      Greenup County, Kentucky           -0.35%           3.5%
 21099      Hart County, Kentucky               0.65%           2.6%
 21103      Henry County, Kentucky              0.08%           2.3%
 21109      Jackson County, Kentucky           -0.16%           3.7%
 21113      Jessamine County, Kentucky          1.00%           3.0%
 21115      Johnson County, Kentucky            0.09%           4.6%
 21125      Laurel County, Kentucky             0.31%           1.9%
 21127      Lawrence County, Kentucky          -0.07%           4.9%
 21129      Lee County, Kentucky               -2.35%           5.3%
 21133      Letcher County, Kentucky           -1.31%           2.2%
 21137      Lincoln County, Kentucky           -0.53%           3.1%
                                                                             35


                                                  Average        Rental
                                                  Annual      Vacancy Rate
 County                                          Population    (ACS 2009-
                         County Name
FIPS Code                                         Growth         2013)
                                                (2010-2013)
 21143      Lyon County, Kentucky                     0.52%           1.0%
 21159      Martin County, Kentucky                  -0.60%           1.5%
 21169      Metcalfe County, Kentucky                -0.45%           3.9%
 21171      Monroe County, Kentucky                  -0.91%           5.0%
 21181      Nicholas County, Kentucky                -0.41%           2.9%
 21185      Oldham County, Kentucky                   1.07%           6.1%
 21187      Owen County, Kentucky                    -0.56%           3.3%
 21189      Owsley County, Kentucky                  -0.86%           0.9%
 21195      Pike County, Kentucky                    -0.83%           4.5%
 21201      Robertson County, Kentucky               -0.55%           4.2%
 21209      Scott County, Kentucky                    1.72%           5.3%
 21211      Shelby County, Kentucky                   1.51%           6.8%
 21215      Spencer County, Kentucky                  1.00%           5.2%
 21219      Todd County, Kentucky                     0.21%           3.4%
 21221      Trigg County, Kentucky                   -0.12%           3.6%
 21225      Union County, Kentucky                   -0.58%           5.9%
 21227      Warren County, Kentucky                   1.22%           6.0%
 21233      Webster County, Kentucky                 -0.37%           2.9%
 22003      Allen Parish, Louisiana                  -0.26%           5.8%
 22011      Beauregard Parish, Louisiana              0.31%           5.8%
 22013      Bienville Parish, Louisiana              -0.82%           5.1%
 22021      Caldwell Parish, Louisiana               -0.46%           5.8%
 22027      Claiborne Parish, Louisiana              -0.99%           3.3%
 22029      Concordia Parish, Louisiana              -0.63%           4.1%
 22031      De Soto Parish, Louisiana                 0.44%           5.8%
 22035      East Carroll Parish, Louisiana           -0.90%           3.9%
 22037      East Feliciana Parish, Louisiana         -0.75%           4.6%
 22043      Grant Parish, Louisiana                  -0.44%           3.7%
 22047      Iberville Parish, Louisiana              -0.02%           1.9%
 22049      Jackson Parish, Louisiana                -0.38%           4.4%
 22053      Jefferson Davis Parish, Louisiana        -0.36%           4.6%
 22055      Lafayette Parish, Louisiana               1.29%           5.9%
 22057      Lafourche Parish, Louisiana               0.16%           4.5%
 22059      LaSalle Parish, Louisiana                -0.31%           1.0%
 22065      Madison Parish, Louisiana                -0.46%           5.6%
 22075      Plaquemines Parish, Louisiana             0.62%           4.9%
                                                                                  36


                                                       Average        Rental
                                                       Annual      Vacancy Rate
 County                                               Population    (ACS 2009-
                         County Name
FIPS Code                                              Growth         2013)
                                                     (2010-2013)
 22079      Rapides Parish, Louisiana                      0.24%           5.4%
 22083      Richland Parish, Louisiana                     0.17%           5.4%
 22087      St. Bernard Parish, Louisiana                  5.73%           8.2%
 22089      St. Charles Parish, Louisiana                 -0.15%           5.2%
 22093      St. James Parish, Louisiana                   -0.42%           4.0%
 22095      St. John the Baptist Parish, Louisiana        -1.42%           5.3%
 22101      St. Mary Parish, Louisiana                    -0.63%           4.4%
 22109      Terrebonne Parish, Louisiana                   0.36%           5.6%
 22113      Vermilion Parish, Louisiana                    0.66%           4.4%
 22117      Washington Parish, Louisiana                  -0.50%           5.4%
 22121      West Baton Rouge Parish, Louisiana             0.86%           4.8%
 22123      West Carroll Parish, Louisiana                -0.34%           5.3%
 23001      Androscoggin County, Maine                    -0.02%           5.3%
 23005      Cumberland County, Maine                       0.48%           5.8%
 23011      Kennebec County, Maine                        -0.25%           5.0%
 23019      Penobscot County, Maine                       -0.10%           5.1%
 23021      Piscataquis County, Maine                     -0.80%           3.9%
 23027      Waldo County, Maine                            0.12%           4.3%
 24003      Anne Arundel County, Maryland                  1.01%           4.8%
 24009      Calvert County, Maryland                       0.57%           3.4%
 24013      Carroll County, Maryland                       0.07%           4.8%
 24017      Charles County, Maryland                       1.29%           6.5%
 24019      Dorchester County, Maryland                   -0.02%           3.6%
 24021      Frederick County, Maryland                     1.02%           3.3%
 24027      Howard County, Maryland                        1.83%           4.2%
 24031      Montgomery County, Maryland                    1.38%           3.7%
 25007      Dukes County, Massachusetts                    1.40%           5.8%
 25009      Essex County, Massachusetts                    0.76%           4.3%
 25011      Franklin County, Massachusetts                -0.04%           3.3%
 25013      Hampden County, Massachusetts                  0.24%           4.4%
 25015      Hampshire County, Massachusetts                0.08%           3.8%
 25017      Middlesex County, Massachusetts                1.02%           3.9%
 25021      Norfolk County, Massachusetts                  0.74%           4.7%
 25025      Suffolk County, Massachusetts                  1.38%           4.4%
 26035      Clare County, Michigan                        -0.46%           3.4%
 26041      Delta County, Michigan                        -0.14%           3.8%
                                                                        37


                                             Average        Rental
                                             Annual      Vacancy Rate
 County                                     Population    (ACS 2009-
                        County Name
FIPS Code                                    Growth         2013)
                                           (2010-2013)
 26043      Dickinson County, Michigan          -0.08%           2.7%
 26045      Eaton County, Michigan               0.15%           5.8%
 26051      Gladwin County, Michigan            -0.29%           4.3%
 26053      Gogebic County, Michigan            -0.98%           3.8%
 26057      Gratiot County, Michigan            -0.35%           3.8%
 26073      Isabella County, Michigan            0.06%           5.1%
 26077      Kalamazoo County, Michigan           0.79%           5.8%
 26079      Kalkaska County, Michigan            0.15%           4.3%
 26081      Kent County, Michigan                1.03%           6.2%
 26091      Lenawee County, Michigan            -0.15%           5.0%
 26093      Livingston County, Michigan          0.63%           5.5%
 26099      Macomb County, Michigan              0.54%           5.4%
 26105      Mason County, Michigan              -0.14%           4.2%
 26109      Menominee County, Michigan          -0.25%           2.2%
 26111      Midland County, Michigan             0.10%           3.0%
 26123      Newaygo County, Michigan            -0.26%           4.7%
 26127      Oceana County, Michigan             -0.35%           4.1%
 26129      Ogemaw County, Michigan             -0.63%           4.1%
 26133      Osceola County, Michigan            -0.35%           4.1%
 26137      Otsego County, Michigan             -0.03%           5.4%
 26139      Ottawa County, Michigan              1.08%           6.6%
 26155      Shiawassee County, Michigan         -0.83%           5.5%
 26159      Van Buren County, Michigan          -0.31%           5.4%
 26161      Washtenaw County, Michigan           0.86%           4.9%
 27001      Aitkin County, Minnesota            -1.00%           4.2%
 27003      Anoka County, Minnesota              0.81%           4.9%
 27005      Becker County, Minnesota             0.71%           3.9%
 27009      Benton County, Minnesota             0.65%           5.3%
 27013      Blue Earth County, Minnesota         0.75%           4.9%
 27015      Brown County, Minnesota             -0.70%           3.9%
 27017      Carlton County, Minnesota            0.05%           2.7%
 27019      Carver County, Minnesota             1.52%           3.7%
 27021      Cass County, Minnesota              -0.10%           5.0%
 27023      Chippewa County, Minnesota          -0.96%           3.4%
 27025      Chisago County, Minnesota           -0.10%           4.4%
 27029      Clearwater County, Minnesota         0.50%           3.5%
                                                                         38


                                              Average        Rental
                                              Annual      Vacancy Rate
 County                                      Population    (ACS 2009-
                       County Name
FIPS Code                                     Growth         2013)
                                            (2010-2013)
 27031      Cook County, Minnesota                0.20%           2.2%
 27033      Cottonwood County, Minnesota         -0.22%           4.7%
 27035      Crow Wing County, Minnesota           0.32%           4.6%
 27037      Dakota County, Minnesota              0.78%           4.8%
 27043      Faribault County, Minnesota          -0.72%           3.8%
 27045      Fillmore County, Minnesota            0.00%           4.1%
 27053      Hennepin County, Minnesota            1.27%           4.4%
 27055      Houston County, Minnesota            -0.35%           3.1%
 27057      Hubbard County, Minnesota             0.40%           5.3%
 27061      Itasca County, Minnesota              0.39%           5.9%
 27063      Jackson County, Minnesota            -0.02%           5.4%
 27065      Kanabec County, Minnesota            -0.50%           4.4%
 27067      Kandiyohi County, Minnesota           0.13%           3.3%
 27071      Koochiching County, Minnesota        -0.24%           2.9%
 27075      Lake County, Minnesota               -0.26%           5.4%
 27079      Le Sueur County, Minnesota            0.13%           4.3%
 27085      McLeod County, Minnesota             -0.63%           5.9%
 27087      Mahnomen County, Minnesota            0.66%           3.4%
 27095      Mille Lacs County, Minnesota         -0.31%           3.3%
 27097      Morrison County, Minnesota           -0.36%           1.8%
 27099      Mower County, Minnesota               0.09%           3.9%
 27103      Nicollet County, Minnesota            0.30%           4.2%
 27105      Nobles County, Minnesota              0.36%           1.9%
 27111      Otter Tail County, Minnesota          0.19%           5.7%
 27113      Pennington County, Minnesota          0.41%           4.4%
 27115      Pine County, Minnesota               -0.69%           2.3%
 27119      Polk County, Minnesota               -0.09%           4.6%
 27123      Ramsey County, Minnesota              1.12%           4.2%
 27131      Rice County, Minnesota                0.40%           5.8%
 27133      Rock County, Minnesota               -0.48%           0.0%
 27137      St. Louis County, Minnesota           0.06%           3.9%
 27139      Scott County, Minnesota               1.69%           3.9%
 27143      Sibley County, Minnesota             -0.35%           4.5%
 27145      Stearns County, Minnesota             0.31%           5.8%
 27147      Steele County, Minnesota             -0.04%           2.7%
 27159      Wadena County, Minnesota             -0.07%           5.4%
                                                                             39


                                                  Average        Rental
                                                  Annual      Vacancy Rate
 County                                          Population    (ACS 2009-
                       County Name
FIPS Code                                         Growth         2013)
                                                (2010-2013)
 27161      Waseca County, Minnesota                 -0.06%           4.7%
 27163      Washington County, Minnesota              1.06%           4.0%
 27167      Wilkin County, Minnesota                 -0.08%           5.9%
 27171      Wright County, Minnesota                  0.88%           3.5%
 27173      Yellow Medicine County, Minnesota        -0.95%           4.7%
 28001      Adams County, Mississippi                -0.51%           2.4%
 28007      Attala County, Mississippi               -0.42%           2.1%
 28013      Calhoun County, Mississippi              -0.49%           5.8%
 28015      Carroll County, Mississippi              -0.67%           5.5%
 28023      Clarke County, Mississippi               -0.66%           3.5%
 28029      Copiah County, Mississippi               -0.57%           3.8%
 28031      Covington County, Mississippi            -0.29%           2.7%
 28033      DeSoto County, Mississippi                1.32%           6.0%
 28055      Issaquena County, Mississippi            -0.07%           1.7%
 28087      Lowndes County, Mississippi               0.06%           5.2%
 28089      Madison County, Mississippi               1.65%           6.3%
 28097      Montgomery County, Mississippi           -1.09%           4.9%
 28121      Rankin County, Mississippi                1.08%           5.0%
 28125      Sharkey County, Mississippi              -1.18%           2.8%
 28129      Smith County, Mississippi                -0.47%           0.0%
 28133      Sunflower County, Mississippi            -1.19%           5.9%
 28135      Tallahatchie County, Mississippi         -0.57%           5.5%
 28147      Walthall County, Mississippi             -1.03%           5.6%
 28153      Wayne County, Mississippi                -0.37%           0.0%
 28155      Webster County, Mississippi              -0.99%           4.8%
 28159      Winston County, Mississippi              -0.72%           5.8%
 28163      Yazoo County, Mississippi                -0.24%           3.3%
 29003      Andrew County, Missouri                   0.13%           0.5%
 29009      Barry County, Missouri                   -0.17%           3.2%
 29011      Barton County, Missouri                  -0.30%           2.3%
 29015      Benton County, Missouri                  -0.33%           5.1%
 29019      Boone County, Missouri                    1.53%           4.3%
 29023      Butler County, Missouri                   0.21%           4.9%
 29025      Caldwell County, Missouri                -1.25%           3.6%
 29027      Callaway County, Missouri                 0.02%           5.2%
 29035      Carter County, Missouri                  -0.01%           2.6%
                                                                        40


                                             Average        Rental
                                             Annual      Vacancy Rate
 County                                     Population    (ACS 2009-
                       County Name
FIPS Code                                    Growth         2013)
                                           (2010-2013)
 29041      Chariton County, Missouri           -0.95%           3.0%
 29051      Cole County, Missouri                0.25%           2.1%
 29053      Cooper County, Missouri              0.12%           4.8%
 29057      Dade County, Missouri               -1.21%           3.2%
 29063      DeKalb County, Missouri             -0.10%           5.6%
 29067      Douglas County, Missouri            -0.33%           4.0%
 29069      Dunklin County, Missouri            -0.25%           1.6%
 29071      Franklin County, Missouri            0.09%           5.2%
 29075      Gentry County, Missouri              0.23%           3.8%
 29079      Grundy County, Missouri              0.31%           4.7%
 29083      Henry County, Missouri              -0.27%           2.2%
 29087      Holt County, Missouri               -2.31%           2.5%
 29093      Iron County, Missouri               -0.79%           4.0%
 29101      Johnson County, Missouri             1.17%           5.3%
 29103      Knox County, Missouri               -0.47%           0.9%
 29113      Lincoln County, Missouri             0.72%           5.6%
 29117      Livingston County, Missouri         -0.59%           5.8%
 29121      Macon County, Missouri              -0.12%           0.5%
 29127      Marion County, Missouri              0.12%           5.1%
 29131      Miller County, Missouri              0.51%           2.4%
 29133      Mississippi County, Missouri        -0.12%           1.6%
 29141      Morgan County, Missouri             -0.50%           2.6%
 29143      New Madrid County, Missouri         -1.02%           3.8%
 29145      Newton County, Missouri              0.41%           3.1%
 29147      Nodaway County, Missouri            -0.17%           2.7%
 29167      Polk County, Missouri               -0.20%           2.7%
 29169      Pulaski County, Missouri             0.54%           5.5%
 29175      Randolph County, Missouri           -0.66%           1.5%
 29179      Reynolds County, Missouri           -0.44%           2.8%
 29181      Ripley County, Missouri             -0.18%           2.2%
 29183      St. Charles County, Missouri         1.08%           4.9%
 29195      Saline County, Missouri             -0.21%           5.3%
 29199      Scotland County, Missouri            0.63%           5.4%
 29205      Shelby County, Missouri             -1.00%           3.8%
 29207      Stoddard County, Missouri           -0.26%           3.1%
 29209      Stone County, Missouri              -0.79%           4.1%
                                                                           41


                                                Average        Rental
                                                Annual      Vacancy Rate
 County                                        Population    (ACS 2009-
                        County Name
FIPS Code                                       Growth         2013)
                                              (2010-2013)
 29211      Sullivan County, Missouri              -1.34%           5.6%
 29215      Texas County, Missouri                 -0.50%           4.6%
 29219      Warren County, Missouri                 0.43%           0.0%
 29221      Washington County, Missouri             0.00%           3.3%
 29223      Wayne County, Missouri                 -0.27%           4.4%
 29227      Worth County, Missouri                 -0.98%           0.0%
 29229      Wright County, Missouri                -0.67%           5.4%
 30001      Beaverhead County, Montana              0.33%           3.4%
 30007      Broadwater County, Montana              0.31%           0.0%
 30015      Chouteau County, Montana                0.28%           5.2%
 30017      Custer County, Montana                  0.72%           3.9%
 30019      Daniels County, Montana                 0.93%           0.0%
 30021      Dawson County, Montana                  1.88%           3.6%
 30031      Gallatin County, Montana                1.88%           4.9%
 30035      Glacier County, Montana                 0.73%           3.2%
 30041      Hill County, Montana                    0.87%           4.1%
 30043      Jefferson County, Montana               0.30%           4.8%
 30049      Lewis and Clark County, Montana         0.91%           5.7%
 30051      Liberty County, Montana                 0.22%           5.5%
 30063      Missoula County, Montana                0.72%           4.8%
 30069      Petroleum County, Montana               0.96%           0.0%
 30073      Pondera County, Montana                 0.23%           5.2%
 30075      Powder River County, Montana            0.37%           5.7%
 30079      Prairie County, Montana                -0.26%           0.0%
 30083      Richland County, Montana                4.82%           4.2%
 30085      Roosevelt County, Montana               2.15%           6.6%
 30089      Sanders County, Montana                -0.10%           4.5%
 30095      Stillwater County, Montana              0.75%           3.8%
 30103      Treasure County, Montana               -0.81%           5.7%
 30109      Wibaux County, Montana                  3.76%           0.0%
 30111      Yellowstone County, Montana             1.28%           4.4%
 31001      Adams County, Nebraska                  0.29%           3.7%
 31003      Antelope County, Nebraska              -1.02%           2.1%
 31005      Arthur County, Nebraska                -0.47%           5.6%
 31007      Banner County, Nebraska                 2.91%           0.0%
 31009      Blaine County, Nebraska                 0.83%           0.0%
                                                                      42


                                           Average        Rental
                                           Annual      Vacancy Rate
 County                                   Population    (ACS 2009-
                        County Name
FIPS Code                                  Growth         2013)
                                         (2010-2013)
 31017      Brown County, Nebraska            -2.37%           0.0%
 31019      Buffalo County, Nebraska           1.23%           4.9%
 31023      Butler County, Nebraska           -0.24%           1.8%
 31029      Chase County, Nebraska             0.31%           4.4%
 31031      Cherry County, Nebraska            0.41%           5.5%
 31033      Cheyenne County, Nebraska          0.43%           1.4%
 31037      Colfax County, Nebraska           -0.37%           3.7%
 31039      Cuming County, Nebraska           -0.53%           2.5%
 31041      Custer County, Nebraska           -0.36%           1.7%
 31043      Dakota County, Nebraska           -0.13%           3.0%
 31045      Dawes County, Nebraska            -0.29%           5.8%
 31049      Deuel County, Nebraska             0.01%           0.0%
 31053      Dodge County, Nebraska            -0.17%           3.3%
 31057      Dundy County, Nebraska            -0.44%           2.8%
 31059      Fillmore County, Nebraska         -1.08%           3.1%
 31061      Franklin County, Nebraska         -1.52%           3.8%
 31065      Furnas County, Nebraska           -0.60%           3.0%
 31069      Garden County, Nebraska           -2.90%           4.6%
 31071      Garfield County, Nebraska         -0.08%           4.0%
 31079      Hall County, Nebraska              1.09%           1.6%
 31081      Hamilton County, Nebraska         -0.05%           4.4%
 31083      Harlan County, Nebraska            0.82%           3.8%
 31085      Hayes County, Nebraska             0.58%           3.8%
 31087      Hitchcock County, Nebraska        -0.24%           5.9%
 31089      Holt County, Nebraska             -0.02%           1.8%
 31097      Johnson County, Nebraska          -0.46%           3.4%
 31107      Knox County, Nebraska             -0.39%           3.4%
 31109      Lancaster County, Nebraska         1.26%           5.1%
 31121      Merrick County, Nebraska          -0.23%           2.8%
 31123      Morrill County, Nebraska          -0.87%           5.5%
 31125      Nance County, Nebraska            -0.96%           5.9%
 31127      Nemaha County, Nebraska           -0.42%           4.1%
 31129      Nuckolls County, Nebraska         -0.70%           5.6%
 31131      Otoe County, Nebraska             -0.03%           4.9%
 31133      Pawnee County, Nebraska           -0.74%           3.4%
 31135      Perkins County, Nebraska          -0.73%           4.8%
                                                                              43


                                                   Average        Rental
                                                   Annual      Vacancy Rate
 County                                           Population    (ACS 2009-
                        County Name
FIPS Code                                          Growth         2013)
                                                 (2010-2013)
 31137      Phelps County, Nebraska                    0.10%           2.4%
 31143      Polk County, Nebraska                     -0.69%           3.9%
 31145      Red Willow County, Nebraska               -0.14%           5.1%
 31147      Richardson County, Nebraska               -0.88%           5.7%
 31149      Rock County, Nebraska                     -2.36%           0.0%
 31153      Sarpy County, Nebraska                     1.96%           5.6%
 31155      Saunders County, Nebraska                  0.11%           4.7%
 31157      Scotts Bluff County, Nebraska             -0.19%           5.4%
 31167      Stanton County, Nebraska                   0.03%           2.8%
 31171      Thomas County, Nebraska                    2.56%           0.0%
 31181      Webster County, Nebraska                  -1.11%           2.3%
 31183      Wheeler County, Nebraska                  -2.57%           0.0%
 32007      Elko County, Nevada                        2.29%           5.3%
 32011      Eureka County, Nevada                      1.35%           0.0%
 32015      Lander County, Nevada                      1.39%           0.0%
 33005      Cheshire County, New Hampshire            -0.17%           4.2%
 33007      Coos County, New Hampshire                -0.97%           4.8%
 33011      Hillsborough County, New Hampshire         0.25%           5.7%
 33013      Merrimack County, New Hampshire            0.10%           5.4%
 33015      Rockingham County, New Hampshire           0.43%           4.6%
 33017      Strafford County, New Hampshire            0.38%           5.1%
 33019      Sullivan County, New Hampshire            -0.56%           5.4%
 34003      Bergen County, New Jersey                  0.69%           4.4%
 34005      Burlington County, New Jersey              0.12%           5.9%
 34007      Camden County, New Jersey                 -0.05%           3.7%
 34017      Hudson County, New Jersey                  1.27%           6.7%
 34023      Middlesex County, New Jersey               0.73%           5.1%
 34025      Monmouth County, New Jersey               -0.06%           5.4%
 34029      Ocean County, New Jersey                   0.33%           4.8%
 35009      Curry County, New Mexico                   1.10%           6.1%
 35023      Hidalgo County, New Mexico                -1.36%           5.4%
 35035      Otero County, New Mexico                   0.66%           3.1%
 35043      Sandoval County, New Mexico                1.05%           5.6%
 36NYC      New York City, NY                          0.87%           3.8%
 36003      Allegany County, New York                 -0.58%           4.3%
 36009      Cattaraugus County, New York              -0.56%           4.1%
                                                                         44


                                              Average        Rental
                                              Annual      Vacancy Rate
 County                                      Population    (ACS 2009-
                        County Name
FIPS Code                                     Growth         2013)
                                            (2010-2013)
 36011      Cayuga County, New York              -0.15%           4.4%
 36015      Chemung County, New York             -0.16%           3.8%
 36017      Chenango County, New York            -0.55%           4.6%
 36019      Clinton County, New York             -0.19%           5.2%
 36021      Columbia County, New York            -0.41%           5.4%
 36023      Cortland County, New York            -0.19%           5.0%
 36029      Erie County, New York                 0.04%           5.2%
 36033      Franklin County, New York             0.07%           5.4%
 36037      Genesee County, New York             -0.33%           4.4%
 36043      Herkimer County, New York            -0.13%           4.1%
 36045      Jefferson County, New York            0.83%           4.2%
 36049      Lewis County, New York                0.10%           4.7%
 36057      Montgomery County, New York          -0.27%           4.7%
 36059      Nassau County, New York               0.28%           4.3%
 36065      Oneida County, New York              -0.18%           5.6%
 36067      Onondaga County, New York             0.07%           5.9%
 36069      Ontario County, New York              0.32%           4.8%
 36071      Orange County, New York               0.19%           4.2%
 36073      Orleans County, New York             -0.48%           4.5%
 36079      Putnam County, New York              -0.03%           3.7%
 36083      Rensselaer County, New York           0.11%           4.3%
 36087      Rockland County, New York             0.89%           5.8%
 36089      St. Lawrence County, New York         0.06%           3.6%
 36091      Saratoga County, New York             0.59%           4.5%
 36093      Schenectady County, New York          0.09%           4.9%
 36095      Schoharie County, New York           -0.84%           5.6%
 36097      Schuyler County, New York             0.29%           4.0%
 36101      Steuben County, New York             -0.10%           4.3%
 36103      Suffolk County, New York              0.12%           5.1%
 36107      Tioga County, New York               -0.52%           2.1%
 36109      Tompkins County, New York             0.63%           1.9%
 36115      Washington County, New York          -0.12%           2.6%
 36117      Wayne County, New York               -0.45%           5.4%
 36121      Wyoming County, New York             -0.45%           2.1%
 36123      Yates County, New York               -0.26%           3.8%
 37007      Anson County, North Carolina         -0.91%           5.2%
                                                                              45


                                                   Average        Rental
                                                   Annual      Vacancy Rate
 County                                           Population    (ACS 2009-
                       County Name
FIPS Code                                          Growth         2013)
                                                 (2010-2013)
 37021      Buncombe County, North Carolina            1.25%           5.7%
 37037      Chatham County, North Carolina             1.57%           6.4%
 37041      Chowan County, North Carolina             -0.06%           3.3%
 37053      Currituck County, North Carolina           1.04%           7.3%
 37063      Durham County, North Carolina              2.09%           7.0%
 37069      Franklin County, North Carolina            0.80%           3.4%
 37073      Gates County, North Carolina              -1.42%           0.0%
 37077      Granville County, North Carolina           0.36%           5.7%
 37079      Greene County, North Carolina             -0.23%           3.9%
 37095      Hyde County, North Carolina               -0.45%           3.0%
 37103      Jones County, North Carolina               0.44%           4.2%
 37105      Lee County, North Carolina                 1.34%           5.2%
 37109      Lincoln County, North Carolina             0.57%           5.0%
 37115      Madison County, North Carolina             0.39%           3.2%
 37119      Mecklenburg County, North Carolina         2.39%           6.6%
 37131      Northampton County, North Carolina        -1.80%           5.6%
 37165      Scotland County, North Carolina           -0.07%           4.9%
 37177      Tyrrell County, North Carolina            -2.33%           1.6%
 37179      Union County, North Carolina               1.72%           6.4%
 37185      Warren County, North Carolina             -0.56%           2.8%
 37191      Wayne County, North Carolina               0.45%           5.8%
 37195      Wilson County, North Carolina              0.15%           4.9%
 37199      Yancey County, North Carolina             -0.45%           5.0%
 38005      Benson County, North Dakota                1.05%           6.9%
 38007      Billings County, North Dakota              4.42%           4.6%
 38009      Bottineau County, North Dakota             1.58%           3.0%
 38013      Burke County, North Dakota                 5.48%           0.6%
 38015      Burleigh County, North Dakota              2.69%           3.7%
 38017      Cass County, North Dakota                  2.72%           4.8%
 38019      Cavalier County, North Dakota             -0.72%           0.3%
 38021      Dickey County, North Dakota               -0.20%           5.2%
 38023      Divide County, North Dakota                3.74%           0.0%
 38025      Dunn County, North Dakota                  5.55%           8.6%
 38031      Foster County, North Dakota                0.23%           1.7%
 38033      Golden Valley County, North Dakota         2.79%           0.9%
 38039      Griggs County, North Dakota               -1.56%           0.0%
                                                                          46


                                               Average        Rental
                                               Annual      Vacancy Rate
 County                                       Population    (ACS 2009-
                        County Name
FIPS Code                                      Growth         2013)
                                             (2010-2013)
 38043      Kidder County, North Dakota          -0.15%            4.8%
 38045      LaMoure County, North Dakota          0.30%            3.6%
 38049      McHenry County, North Dakota          3.17%            5.3%
 38053      McKenzie County, North Dakota        13.38%            1.4%
 38055      McLean County, North Dakota           1.92%            2.8%
 38059      Morton County, North Dakota           1.70%            4.2%
 38061      Mountrail County, North Dakota        6.68%            6.4%
 38069      Pierce County, North Dakota           0.69%            0.0%
 38079      Rolette County, North Dakota          1.37%            5.5%
 38085      Sioux County, North Dakota            2.23%            2.0%
 38087      Slope County, North Dakota            1.57%            0.0%
 38089      Stark County, North Dakota            5.05%            6.5%
 38091      Steele County, North Dakota          -0.22%            5.9%
 38093      Stutsman County, North Dakota         0.01%            5.5%
 38101      Ward County, North Dakota             3.08%            5.4%
 38105      Williams County, North Dakota         9.45%            2.5%
 39003      Allen County, Ohio                   -0.34%            5.8%
 39005      Ashland County, Ohio                 -0.18%            5.7%
 39011      Auglaize County, Ohio                -0.01%            5.7%
 39019      Carroll County, Ohio                 -0.61%            0.0%
 39029      Columbiana County, Ohio              -0.60%            5.3%
 39033      Crawford County, Ohio                -0.75%            5.2%
 39041      Delaware County, Ohio                 1.82%            4.7%
 39043      Erie County, Ohio                    -0.42%            5.7%
 39047      Fayette County, Ohio                 -0.26%            5.0%
 39057      Greene County, Ohio                   0.33%            5.9%
 39067      Harrison County, Ohio                -0.47%            2.8%
 39069      Henry County, Ohio                   -0.01%            3.1%
 39071      Highland County, Ohio                -0.23%            3.3%
 39075      Holmes County, Ohio                   0.87%            5.6%
 39079      Jackson County, Ohio                 -0.46%            3.6%
 39081      Jefferson County, Ohio               -0.79%            2.5%
 39083      Knox County, Ohio                    -0.15%            3.2%
 39089      Licking County, Ohio                  0.33%            4.3%
 39093      Lorain County, Ohio                   0.15%            5.6%
 39097      Madison County, Ohio                 -0.11%            4.7%
                                                                        47


                                             Average        Rental
                                             Annual      Vacancy Rate
 County                                     Population    (ACS 2009-
                       County Name
FIPS Code                                    Growth         2013)
                                           (2010-2013)
 39101      Marion County, Ohio                 -0.28%           5.2%
 39103      Medina County, Ohio                  0.46%           4.4%
 39105      Meigs County, Ohio                  -0.33%           0.9%
 39109      Miami County, Ohio                   0.32%           5.5%
 39117      Morrow County, Ohio                  0.20%           1.1%
 39121      Noble County, Ohio                  -0.01%           2.9%
 39123      Ottawa County, Ohio                 -0.20%           5.1%
 39127      Perry County, Ohio                  -0.04%           5.2%
 39129      Pickaway County, Ohio                0.32%           4.0%
 39131      Pike County, Ohio                   -0.42%           3.9%
 39133      Portage County, Ohio                 0.00%           4.8%
 39139      Richland County, Ohio               -0.65%           5.3%
 39145      Scioto County, Ohio                 -0.58%           4.2%
 39159      Union County, Ohio                   0.56%           4.3%
 39165      Warren County, Ohio                  0.92%           4.6%
 39169      Wayne County, Ohio                   0.17%           4.1%
 39171      Williams County, Ohio               -0.02%           5.6%
 39175      Wyandot County, Ohio                -0.20%           5.2%
 40003      Alfalfa County, Oklahoma             1.28%           3.5%
 40017      Canadian County, Oklahoma            2.73%           6.2%
 40033      Cotton County, Oklahoma             -0.15%           3.4%
 40037      Creek County, Oklahoma               0.16%           5.3%
 40039      Custer County, Oklahoma              2.24%           3.7%
 40043      Dewey County, Oklahoma               0.19%           2.7%
 40051      Grady County, Oklahoma               0.76%           4.9%
 40055      Greer County, Oklahoma              -0.16%           3.9%
 40065      Jackson County, Oklahoma            -0.48%           5.5%
 40075      Kiowa County, Oklahoma              -0.31%           0.7%
 40077      Latimer County, Oklahoma            -1.11%           5.1%
 40083      Logan County, Oklahoma               1.86%           6.9%
 40093      Major County, Oklahoma               0.79%           3.0%
 40107      Okfuskee County, Oklahoma            0.42%           3.8%
 40119      Payne County, Oklahoma               0.70%           5.7%
 40127      Pushmataha County, Oklahoma         -1.02%           5.0%
 40129      Roger Mills County, Oklahoma         0.98%           0.0%
 40131      Rogers County, Oklahoma              0.77%           4.9%
                                                                           48


                                                Average        Rental
                                                Annual      Vacancy Rate
 County                                        Population    (ACS 2009-
                       County Name
FIPS Code                                       Growth         2013)
                                              (2010-2013)
 40139      Texas County, Oklahoma                  1.99%           5.0%
 40145      Wagoner County, Oklahoma                1.04%           6.3%
 40147      Washington County, Oklahoma             0.32%           4.0%
 40149      Washita County, Oklahoma                0.24%           4.9%
 41001      Baker County, Oregon                   -0.15%           4.7%
 41005      Clackamas County, Oregon                0.99%           4.8%
 41009      Columbia County, Oregon                 0.00%           4.6%
 41027      Hood River County, Oregon               0.35%           5.7%
 41029      Jackson County, Oregon                  0.83%           4.4%
 41033      Josephine County, Oregon                0.19%           5.6%
 41039      Lane County, Oregon                     0.41%           3.8%
 41047      Marion County, Oregon                   0.80%           5.1%
 41051      Multnomah County, Oregon                1.29%           3.6%
 41053      Polk County, Oregon                     0.53%           3.5%
 41055      Sherman County, Oregon                 -0.77%           4.0%
 41059      Umatilla County, Oregon                 0.29%           5.3%
 41061      Union County, Oregon                   -0.12%           5.6%
 41063      Wallowa County, Oregon                 -1.01%           5.5%
 41067      Washington County, Oregon               1.46%           4.5%
 42001      Adams County, Pennsylvania              0.03%           3.8%
 42003      Allegheny County, Pennsylvania          0.21%           4.9%
 42007      Beaver County, Pennsylvania            -0.09%           4.6%
 42009      Bedford County, Pennsylvania           -0.46%           5.2%
 42011      Berks County, Pennsylvania              0.14%           5.8%
 42013      Blair County, Pennsylvania             -0.19%           4.5%
 42019      Butler County, Pennsylvania             0.26%           4.8%
 42021      Cambria County, Pennsylvania           -0.69%           4.2%
 42025      Carbon County, Pennsylvania            -0.22%           4.0%
 42027      Centre County, Pennsylvania             0.27%           1.9%
 42029      Chester County, Pennsylvania            0.64%           4.6%
 42033      Clearfield County, Pennsylvania        -0.16%           4.5%
 42035      Clinton County, Pennsylvania            0.61%           3.9%
 42037      Columbia County, Pennsylvania          -0.26%           2.1%
 42039      Crawford County, Pennsylvania          -0.49%           5.4%
 42041      Cumberland County, Pennsylvania         0.73%           3.8%
 42055      Franklin County, Pennsylvania           0.48%           5.9%
                                                                               49


                                                    Average        Rental
                                                    Annual      Vacancy Rate
 County                                            Population    (ACS 2009-
                        County Name
FIPS Code                                           Growth         2013)
                                                  (2010-2013)
 42057      Fulton County, Pennsylvania                -0.45%           1.2%
 42059      Greene County, Pennsylvania                -0.67%           4.7%
 42063      Indiana County, Pennsylvania               -0.40%           5.1%
 42067      Juniata County, Pennsylvania                0.31%           3.3%
 42069      Lackawanna County, Pennsylvania            -0.07%           4.4%
 42071      Lancaster County, Pennsylvania              0.59%           4.0%
 42075      Lebanon County, Pennsylvania                0.43%           3.4%
 42079      Luzerne County, Pennsylvania               -0.09%           3.6%
 42081      Lycoming County, Pennsylvania               0.17%           4.7%
 42083      McKean County, Pennsylvania                -0.29%           3.4%
 42087      Mifflin County, Pennsylvania               -0.03%           5.7%
 42093      Montour County, Pennsylvania                0.38%           1.4%
 42095      Northampton County, Pennsylvania            0.20%           5.7%
 42097      Northumberland County, Pennsylvania        -0.10%           5.0%
 42099      Perry County, Pennsylvania                 -0.33%           5.1%
 42103      Pike County, Pennsylvania                  -0.43%           3.1%
 42107      Schuylkill County, Pennsylvania            -0.30%           4.7%
 42109      Snyder County, Pennsylvania                 0.10%           5.3%
 42111      Somerset County, Pennsylvania              -0.51%           4.4%
 42115      Susquehanna County, Pennsylvania           -0.84%           4.3%
 42117      Tioga County, Pennsylvania                  0.35%           4.3%
 42121      Venango County, Pennsylvania               -0.64%           4.2%
 42125      Washington County, Pennsylvania             0.05%           5.6%
 42127      Wayne County, Pennsylvania                 -0.89%           5.8%
 42129      Westmoreland County, Pennsylvania          -0.24%           4.8%
 42131      Wyoming County, Pennsylvania               -0.30%           0.5%
 42133      York County, Pennsylvania                   0.26%           5.1%
 44003      Kent County, Rhode Island                  -0.20%           5.0%
 44005      Newport County, Rhode Island               -0.20%           3.4%
 44009      Washington County, Rhode Island            -0.19%           4.6%
 45001      Abbeville County, South Carolina           -0.45%           3.7%
 45003      Aiken County, South Carolina                0.74%           5.9%
 45017      Calhoun County, South Carolina             -0.12%           3.2%
 45027      Clarendon County, South Carolina           -0.57%           4.2%
 45037      Edgefield County, South Carolina           -0.66%           4.8%
 45039      Fairfield County, South Carolina           -1.05%           4.2%
                                                                               50


                                                    Average        Rental
                                                    Annual      Vacancy Rate
 County                                            Population    (ACS 2009-
                         County Name
FIPS Code                                           Growth         2013)
                                                  (2010-2013)
 45053      Jasper County, South Carolina               2.21%           5.1%
 45055      Kershaw County, South Carolina              0.45%           2.9%
 45059      Laurens County, South Carolina             -0.15%           5.6%
 45061      Lee County, South Carolina                 -1.51%           1.9%
 45065      McCormick County, South Carolina           -0.93%           4.2%
 45089      Williamsburg County, South Carolina        -1.25%           3.7%
 45091      York County, South Carolina                 1.80%           5.8%
 46005      Beadle County, South Dakota                 1.27%           6.6%
 46007      Bennett County, South Dakota                0.10%           4.3%
 46013      Brown County, South Dakota                  1.16%           6.4%
 46015      Brule County, South Dakota                  0.62%           4.7%
 46017      Buffalo County, South Dakota                1.39%           4.2%
 46019      Butte County, South Dakota                  0.66%           3.5%
 46021      Campbell County, South Dakota              -3.26%           0.0%
 46027      Clay County, South Dakota                   0.21%           3.2%
 46029      Codington County, South Dakota              0.77%           1.3%
 46031      Corson County, South Dakota                 1.20%           4.1%
 46033      Custer County, South Dakota                 0.79%           3.1%
 46035      Davison County, South Dakota                0.51%           0.3%
 46041      Dewey County, South Dakota                  1.58%           7.2%
 46045      Edmunds County, South Dakota               -0.28%           2.7%
 46049      Faulk County, South Dakota                  0.27%           3.3%
 46061      Hanson County, South Dakota                 0.59%           4.4%
 46063      Harding County, South Dakota                0.51%           3.5%
 46065      Hughes County, South Dakota                 0.86%           4.2%
 46067      Hutchinson County, South Dakota            -0.87%           5.8%
 46069      Hyde County, South Dakota                  -0.56%           0.0%
 46071      Jackson County, South Dakota                1.84%           1.2%
 46073      Jerauld County, South Dakota               -0.28%           3.2%
 46075      Jones County, South Dakota                 -0.19%           0.0%
 46077      Kingsbury County, South Dakota             -0.45%           5.8%
 46079      Lake County, South Dakota                   2.26%           0.3%
 46083      Lincoln County, South Dakota                3.34%           6.4%
 46085      Lyman County, South Dakota                  1.08%           2.7%
 46091      Marshall County, South Dakota               0.87%           5.4%
 46097      Miner County, South Dakota                 -0.68%           5.2%
                                                                           51


                                                Average        Rental
                                                Annual      Vacancy Rate
 County                                        Population    (ACS 2009-
                        County Name
FIPS Code                                       Growth         2013)
                                              (2010-2013)
 46099      Minnehaha County, South Dakota          1.86%           6.4%
 46101      Moody County, South Dakota             -0.46%           3.5%
 46103      Pennington County, South Dakota         1.44%           4.8%
 46105      Perkins County, South Dakota            0.70%           4.6%
 46107      Potter County, South Dakota             0.79%           3.5%
 46111      Sanborn County, South Dakota           -0.48%           3.8%
 46113      Shannon County, South Dakota            1.13%           6.1%
 46115      Spink County, South Dakota              1.04%           4.8%
 46121      Todd County, South Dakota               1.19%           6.9%
 46123      Tripp County, South Dakota             -0.84%           4.5%
 46137      Ziebach County, South Dakota            0.13%           2.5%
 47013      Campbell County, Tennessee             -0.38%           5.9%
 47015      Cannon County, Tennessee               -0.04%           5.8%
 47019      Carter County, Tennessee               -0.02%           5.8%
 47021      Cheatham County, Tennessee              0.32%           5.1%
 47025      Claiborne County, Tennessee            -0.70%           3.4%
 47031      Coffee County, Tennessee                0.36%           4.1%
 47033      Crockett County, Tennessee              0.05%           3.7%
 47035      Cumberland County, Tennessee            0.74%           4.3%
 47045      Dyer County, Tennessee                 -0.09%           5.1%
 47051      Franklin County, Tennessee              0.11%           4.8%
 47067      Hancock County, Tennessee              -0.70%           5.2%
 47081      Hickman County, Tennessee              -0.55%           5.1%
 47083      Houston County, Tennessee              -0.62%           4.8%
 47085      Humphreys County, Tennessee            -0.58%           3.8%
 47089      Jefferson County, Tennessee             0.43%           4.4%
 47091      Johnson County, Tennessee              -0.56%           4.4%
 47093      Knox County, Tennessee                  0.88%           5.3%
 47095      Lake County, Tennessee                 -0.38%           4.7%
 47099      Lawrence County, Tennessee              0.00%           3.4%
 47101      Lewis County, Tennessee                -0.52%           4.0%
 47105      Loudon County, Tennessee                1.15%           6.4%
 47119      Maury County, Tennessee                 1.05%           5.2%
 47121      Meigs County, Tennessee                -0.36%           1.6%
 47135      Perry County, Tennessee                -0.22%           5.8%
 47153      Sequatchie County, Tennessee            1.28%           5.3%
                                                                        52


                                             Average        Rental
                                             Annual      Vacancy Rate
 County                                     Population    (ACS 2009-
                       County Name
FIPS Code                                    Growth         2013)
                                           (2010-2013)
 47171      Unicoi County, Tennessee            -0.38%           4.3%
 47173      Union County, Tennessee             -0.03%           5.9%
 47179      Washington County, Tennessee         0.60%           5.9%
 47181      Wayne County, Tennessee             -0.09%           4.2%
 47183      Weakley County, Tennessee           -0.55%           5.1%
 47187      Williamson County, Tennessee         2.61%           3.3%
 48001      Anderson County, Texas              -0.31%           4.8%
 48003      Andrews County, Texas                4.23%           0.0%
 48009      Archer County, Texas                -1.42%           4.6%
 48011      Armstrong County, Texas              0.82%           3.4%
 48013      Atascosa County, Texas               1.56%           3.4%
 48015      Austin County, Texas                 0.47%           1.7%
 48017      Bailey County, Texas                -0.19%           0.0%
 48023      Baylor County, Texas                -0.93%           5.1%
 48033      Borden County, Texas                -0.37%           0.0%
 48055      Caldwell County, Texas               0.97%           5.0%
 48063      Camp County, Texas                   0.03%           4.6%
 48067      Cass County, Texas                  -0.11%           5.0%
 48073      Cherokee County, Texas               0.00%           5.9%
 48079      Cochran County, Texas               -1.32%           4.4%
 48081      Coke County, Texas                  -1.14%           4.9%
 48093      Comanche County, Texas              -0.87%           0.7%
 48097      Cooke County, Texas                  0.02%           5.0%
 48101      Cottle County, Texas                -1.07%           3.9%
 48103      Crane County, Texas                  2.97%           0.0%
 48105      Crockett County, Texas               0.88%           0.0%
 48109      Culberson County, Texas             -1.72%           3.7%
 48115      Dawson County, Texas                -0.09%           1.2%
 48121      Denton County, Texas                 3.00%           6.8%
 48131      Duval County, Texas                 -0.23%           4.0%
 48135      Ector County, Texas                  2.90%           4.3%
 48139      Ellis County, Texas                  1.21%           7.1%
 48143      Erath County, Texas                  1.53%           5.7%
 48151      Fisher County, Texas                -0.80%           0.0%
 48153      Floyd County, Texas                 -0.90%           1.4%
 48157      Fort Bend County, Texas              3.39%           6.9%
                                                                    53


                                         Average        Rental
                                         Annual      Vacancy Rate
 County                                 Population    (ACS 2009-
                        County Name
FIPS Code                                Growth         2013)
                                       (2010-2013)
 48165      Gaines County, Texas             2.49%           5.6%
 48173      Glasscock County, Texas          0.65%           0.0%
 48187      Guadalupe County, Texas          2.64%           6.0%
 48195      Hansford County, Texas          -0.30%           4.3%
 48197      Hardeman County, Texas          -1.09%           1.8%
 48205      Hartley County, Texas            0.21%           0.0%
 48209      Hays County, Texas               3.60%           5.9%
 48211      Hemphill County, Texas           3.07%           4.5%
 48215      Hidalgo County, Texas            1.55%           6.2%
 48217      Hill County, Texas              -0.29%           5.0%
 48221      Hood County, Texas               1.00%           5.3%
 48227      Howard County, Texas             1.07%           7.1%
 48229      Hudspeth County, Texas          -1.51%           2.5%
 48235      Irion County, Texas              0.06%           0.0%
 48237      Jack County, Texas              -0.24%           1.5%
 48243      Jeff Davis County, Texas        -1.40%           4.9%
 48249      Jim Wells County, Texas          0.65%           3.5%
 48257      Kaufman County, Texas            1.49%           7.3%
 48259      Kendall County, Texas            3.89%           6.5%
 48261      Kenedy County, Texas            -0.41%           0.0%
 48263      Kent County, Texas              -0.16%           0.0%
 48265      Kerr County, Texas               0.21%           5.7%
 48269      King County, Texas              -0.22%           0.0%
 48273      Kleberg County, Texas            0.01%           2.8%
 48293      Limestone County, Texas         -0.19%           1.4%
 48295      Lipscomb County, Texas           2.01%           6.3%
 48301      Loving County, Texas             6.12%           0.0%
 48305      Lynn County, Texas              -1.00%           3.1%
 48315      Marion County, Texas            -0.90%           1.7%
 48319      Mason County, Texas              0.95%           0.0%
 48327      Menard County, Texas            -1.30%           5.8%
 48329      Midland County, Texas            3.42%           7.2%
 48333      Mills County, Texas             -0.31%           4.2%
 48335      Mitchell County, Texas          -0.03%           4.3%
 48341      Moore County, Texas              0.23%           4.6%
 48349      Navarro County, Texas            0.19%           4.6%
                                                                       54


                                            Average        Rental
                                            Annual      Vacancy Rate
 County                                    Population    (ACS 2009-
                        County Name
FIPS Code                                   Growth         2013)
                                          (2010-2013)
 48355      Nueces County, Texas                1.14%           6.8%
 48357      Ochiltree County, Texas             2.01%           0.0%
 48359      Oldham County, Texas                0.85%           4.5%
 48367      Parker County, Texas                1.16%           1.7%
 48369      Parmer County, Texas               -1.05%           4.0%
 48371      Pecos County, Texas                 0.34%           5.8%
 48381      Randall County, Texas               1.43%           7.2%
 48383      Reagan County, Texas                2.42%           6.7%
 48391      Refugio County, Texas              -0.23%           4.0%
 48393      Roberts County, Texas              -3.34%           0.0%
 48397      Rockwall County, Texas              2.57%           3.9%
 48399      Runnels County, Texas              -0.64%           3.4%
 48401      Rusk County, Texas                  0.14%           4.6%
 48405      San Augustine County, Texas        -0.29%           4.9%
 48407      San Jacinto County, Texas           0.50%           5.6%
 48413      Schleicher County, Texas           -2.86%           0.0%
 48415      Scurry County, Texas                0.68%           4.5%
 48419      Shelby County, Texas                0.48%           3.7%
 48425      Somervell County, Texas             0.58%           0.0%
 48429      Stephens County, Texas             -1.22%           4.6%
 48431      Sterling County, Texas              2.35%           4.9%
 48435      Sutton County, Texas               -0.43%           2.4%
 48437      Swisher County, Texas              -0.55%           4.8%
 48443      Terrell County, Texas              -3.59%           3.4%
 48451      Tom Green County, Texas             1.27%           5.1%
 48453      Travis County, Texas                2.85%           5.4%
 48461      Upton County, Texas                 0.22%           4.4%
 48469      Victoria County, Texas              1.20%           7.1%
 48475      Ward County, Texas                  1.95%           4.9%
 48479      Webb County, Texas                  1.46%           4.7%
 48483      Wheeler County, Texas               2.08%           6.3%
 48491      Williamson County, Texas            3.35%           5.7%
 48493      Wilson County, Texas                1.78%           2.1%
 48495      Winkler County, Texas               2.41%           0.0%
 48501      Yoakum County, Texas                1.43%           6.0%
 48503      Young County, Texas                -0.34%           5.5%
                                                                         55


                                              Average        Rental
                                              Annual      Vacancy Rate
 County                                      Population    (ACS 2009-
                        County Name
FIPS Code                                     Growth         2013)
                                            (2010-2013)
 48507      Zavala County, Texas                  1.21%           3.1%
 49005      Cache County, Utah                    1.06%           2.4%
 49009      Daggett County, Utah                  2.01%           6.0%
 49011      Davis County, Utah                    1.53%           3.9%
 49029      Morgan County, Utah                   2.25%           0.0%
 49031      Piute County, Utah                   -0.97%           3.8%
 49033      Rich County, Utah                     0.47%           5.5%
 49035      Salt Lake County, Utah                1.49%           5.9%
 49039      Sanpete County, Utah                  0.43%           5.9%
 49041      Sevier County, Utah                   0.08%           4.2%
 49047      Uintah County, Utah                   3.12%           4.4%
 49049      Utah County, Utah                     2.03%           3.1%
 49051      Wasatch County, Utah                  3.71%           4.6%
 49053      Washington County, Utah               2.21%           5.7%
 50001      Addison County, Vermont              -0.01%           5.4%
 50003      Bennington County, Vermont           -0.38%           3.0%
 50007      Chittenden County, Vermont            0.58%           2.7%
 50009      Essex County, Vermont                -0.45%           5.3%
 50011      Franklin County, Vermont              0.35%           5.5%
 50015      Lamoille County, Vermont              0.74%           4.2%
 50017      Orange County, Vermont               -0.03%           4.6%
 50023      Washington County, Vermont           -0.13%           4.6%
 50025      Windham County, Vermont              -0.49%           4.7%
 51001      Accomack County, Virginia            -0.04%           2.6%
 51005      Alleghany County, Virginia           -0.11%           4.1%
 51007      Amelia County, Virginia               0.02%           0.0%
 51009      Amherst County, Virginia              0.13%           1.1%
 51011      Appomattox County, Virginia           0.49%           4.3%
 51013      Arlington County, Virginia            2.43%           5.8%
 51021      Bland County, Virginia               -0.43%           0.0%
 51029      Buckingham County, Virginia           0.05%           0.8%
 51031      Campbell County, Virginia             0.22%           5.5%
 51033      Caroline County, Virginia             0.81%           5.8%
 51036      Charles City County, Virginia        -0.61%           4.0%
 51037      Charlotte County, Virginia           -0.69%           5.2%
 51047      Culpeper County, Virginia             1.20%           5.5%
                                                                           56


                                                Average        Rental
                                                Annual      Vacancy Rate
 County                                        Population    (ACS 2009-
                        County Name
FIPS Code                                       Growth         2013)
                                              (2010-2013)
 51049      Cumberland County, Virginia            -0.66%           0.0%
 51059      Fairfax County, Virginia                1.35%           4.0%
 51065      Fluvanna County, Virginia               0.29%           3.2%
 51069      Frederick County, Virginia              1.17%           3.3%
 51075      Goochland County, Virginia             -0.21%           0.8%
 51077      Grayson County, Virginia               -0.65%           4.8%
 51083      Halifax County, Virginia               -0.70%           2.8%
 51085      Hanover County, Virginia                0.47%           2.4%
 51087      Henrico County, Virginia                1.19%           5.9%
 51091      Highland County, Virginia              -1.15%           4.8%
 51093      Isle of Wight County, Virginia          0.35%           4.8%
 51101      King William County, Virginia           0.23%           2.5%
 51103      Lancaster County, Virginia             -0.65%           5.9%
 51105      Lee County, Virginia                   -0.46%           5.9%
 51107      Loudoun County, Virginia                3.50%           3.6%
 51111      Lunenburg County, Virginia             -0.96%           1.4%
 51117      Mecklenburg County, Virginia           -1.32%           3.6%
 51119      Middlesex County, Virginia             -0.63%           4.3%
 51121      Montgomery County, Virginia             0.58%           3.5%
 51127      New Kent County, Virginia               1.71%           0.0%
 51131      Northampton County, Virginia           -0.74%           1.5%
 51133      Northumberland County, Virginia        -0.41%           4.3%
 51135      Nottoway County, Virginia              -0.15%           2.8%
 51143      Pittsylvania County, Virginia          -0.63%           5.5%
 51145      Powhatan County, Virginia               0.21%           0.0%
 51147      Prince Edward County, Virginia         -0.81%           3.9%
 51153      Prince William County, Virginia         2.57%           4.7%
 51155      Pulaski County, Virginia               -0.31%           3.1%
 51157      Rappahannock County, Virginia          -0.09%           0.0%
 51159      Richmond County, Virginia              -1.12%           5.7%
 51165      Rockingham County, Virginia             0.60%           5.4%
 51171      Shenandoah County, Virginia             0.50%           4.8%
 51175      Southampton County, Virginia           -0.79%           5.7%
 51177      Spotsylvania County, Virginia           1.19%           6.2%
 51179      Stafford County, Virginia               1.77%           6.4%
 51187      Warren County, Virginia                 1.04%           4.9%
                                                                           57


                                                Average        Rental
                                                Annual      Vacancy Rate
 County                                        Population    (ACS 2009-
                        County Name
FIPS Code                                       Growth         2013)
                                              (2010-2013)
 51193      Westmoreland County, Virginia           0.31%           3.9%
 51510      Alexandria city, Virginia               1.87%           3.8%
 51550      Chesapeake city, Virginia               1.04%           5.6%
 51580      Covington city, Virginia               -0.80%           5.0%
 51595      Emporia city, Virginia                 -1.91%           3.2%
 51600      Fairfax city, Virginia                  1.99%           4.2%
 51620      Franklin city, Virginia                 0.13%           4.5%
 51630      Fredericksburg city, Virginia           4.79%           7.3%
 51660      Harrisonburg city, Virginia             1.57%           3.5%
 51678      Lexington city, Virginia                0.55%           4.5%
 51680      Lynchburg city, Virginia                1.00%           5.8%
 51685      Manassas Park city, Virginia            3.80%           3.6%
 51735      Poquoson city, Virginia                -0.14%           3.8%
 51770      Roanoke city, Virginia                  0.57%           5.2%
 51810      Virginia Beach city, Virginia           0.71%           4.4%
 51830      Williamsburg city, Virginia             2.46%           7.0%
 53001      Adams County, Washington                0.53%           1.6%
 53003      Asotin County, Washington               0.63%           5.0%
 53005      Benton County, Washington               1.50%           6.9%
 53011      Clark County, Washington                1.30%           4.5%
 53015      Cowlitz County, Washington             -0.18%           5.2%
 53017      Douglas County, Washington              0.80%           5.6%
 53021      Franklin County, Washington             3.08%           1.7%
 53029      Island County, Washington               0.04%           5.6%
 53031      Jefferson County, Washington            0.19%           5.6%
 53033      King County, Washington                 1.81%           4.3%
 53043      Lincoln County, Washington             -0.84%           5.0%
 53049      Pacific County, Washington             -0.65%           5.4%
 53051      Pend Oreille County, Washington        -0.18%           5.3%
 53053      Pierce County, Washington               1.01%           5.8%
 53057      Skagit County, Washington               0.53%           5.9%
 53061      Snohomish County, Washington            1.40%           5.1%
 53065      Stevens County, Washington             -0.05%           4.5%
 53067      Thurston County, Washington             1.22%           5.6%
 53069      Wahkiakum County, Washington            0.60%           2.1%
 53071      Walla Walla County, Washington          0.35%           4.5%
                                                                            58


                                                 Average        Rental
                                                 Annual      Vacancy Rate
 County                                         Population    (ACS 2009-
                        County Name
FIPS Code                                        Growth         2013)
                                               (2010-2013)
 53073      Whatcom County, Washington               0.79%           5.0%
 53077      Yakima County, Washington                0.39%           4.0%
 54011      Cabell County, West Virginia             0.27%           5.8%
 54015      Clay County, West Virginia              -0.40%           5.3%
 54017      Doddridge County, West Virginia          0.58%           1.6%
 54021      Gilmer County, West Virginia            -0.15%           5.4%
 54027      Hampshire County, West Virginia         -0.71%           3.1%
 54035      Jackson County, West Virginia           -0.08%           4.1%
 54041      Lewis County, West Virginia              0.13%           3.2%
 54043      Lincoln County, West Virginia           -0.17%           3.0%
 54051      Marshall County, West Virginia          -0.61%           5.9%
 54055      Mercer County, West Virginia            -0.18%           4.3%
 54061      Monongalia County, West Virginia         1.86%           3.1%
 54071      Pendleton County, West Virginia         -1.00%           3.5%
 54077      Preston County, West Virginia            0.30%           5.1%
 54081      Raleigh County, West Virginia           -0.03%           4.9%
 54085      Ritchie County, West Virginia           -1.05%           5.8%
 54091      Taylor County, West Virginia             0.20%           1.8%
 54095      Tyler County, West Virginia             -0.72%           5.5%
 54101      Webster County, West Virginia           -0.93%           2.8%
 54105      Wirt County, West Virginia               0.95%           1.5%
 54109      Wyoming County, West Virginia           -1.01%           2.8%
 55009      Brown County, Wisconsin                  0.81%           5.8%
 55013      Burnett County, Wisconsin               -0.21%           4.7%
 55017      Chippewa County, Wisconsin               0.32%           4.0%
 55019      Clark County, Wisconsin                 -0.07%           5.7%
 55023      Crawford County, Wisconsin              -0.44%           5.9%
 55025      Dane County, Wisconsin                   1.41%           3.8%
 55031      Douglas County, Wisconsin               -0.22%           5.0%
 55035      Eau Claire County, Wisconsin             0.86%           3.0%
 55037      Florence County, Wisconsin               0.88%           3.3%
 55039      Fond du Lac County, Wisconsin            0.05%           5.3%
 55047      Green Lake County, Wisconsin            -0.13%           3.1%
 55053      Jackson County, Wisconsin                0.28%           3.7%
 55055      Jefferson County, Wisconsin              0.33%           5.2%
 55063      La Crosse County, Wisconsin              0.54%           3.9%
                                                                               59


                                                    Average        Rental
                                                    Annual      Vacancy Rate
 County                                            Population    (ACS 2009-
                        County Name
FIPS Code                                           Growth         2013)
                                                  (2010-2013)
 55065      Lafayette County, Wisconsin                -0.05%           4.4%
 55067      Langlade County, Wisconsin                 -0.61%           2.3%
 55075      Marinette County, Wisconsin                -0.08%           3.9%
 55078      Menominee County, Wisconsin                 0.51%           0.0%
 55079      Milwaukee County, Wisconsin                 0.27%           4.0%
 55081      Monroe County, Wisconsin                    0.40%           5.5%
 55083      Oconto County, Wisconsin                   -0.30%           2.7%
 55087      Outagamie County, Wisconsin                 0.66%           4.7%
 55089      Ozaukee County, Wisconsin                   0.27%           5.6%
 55093      Pierce County, Wisconsin                   -0.11%           5.2%
 55095      Polk County, Wisconsin                     -0.51%           5.8%
 55097      Portage County, Wisconsin                   0.19%           3.9%
 55105      Rock County, Wisconsin                      0.10%           5.8%
 55107      Rusk County, Wisconsin                     -0.74%           2.0%
 55109      St. Croix County, Wisconsin                 0.60%           5.5%
 55113      Sawyer County, Wisconsin                   -0.09%           4.7%
 55115      Shawano County, Wisconsin                  -0.23%           5.7%
 55119      Taylor County, Wisconsin                   -0.03%           4.2%
 55127      Walworth County, Wisconsin                  0.25%           5.0%
 55129      Washburn County, Wisconsin                 -0.52%           4.1%
 55131      Washington County, Wisconsin                0.21%           5.1%
 55133      Waukesha County, Wisconsin                  0.32%           4.2%
 55137      Waushara County, Wisconsin                 -0.23%           3.6%
 55141      Wood County, Wisconsin                     -0.37%           5.2%
 56011      Crook County, Wyoming                       0.35%           2.2%
 56015      Goshen County, Wyoming                      0.49%           4.8%
 56017      Hot Springs County, Wyoming                 0.29%           1.5%
 56021      Laramie County, Wyoming                     1.35%           5.1%
 56025      Natrona County, Wyoming                     2.38%           6.0%
 56029      Park County, Wyoming                        1.12%           6.2%
 56031      Platte County, Wyoming                      0.33%           5.4%
 56043      Washakie County, Wyoming                   -0.30%           5.5%
 56045      Weston County, Wyoming                     -0.05%           2.7%
 72001      Adjuntas Municipio, Puerto Rico            -0.60%           2.4%
 72007      Aguas Buenas Municipio, Puerto Rico        -0.82%           4.9%
 72009      Aibonito Municipio, Puerto Rico            -1.16%           1.2%
                                                                                60


                                                     Average        Rental
                                                     Annual      Vacancy Rate
 County                                             Population    (ACS 2009-
                         County Name
FIPS Code                                            Growth         2013)
                                                   (2010-2013)
 72011      Añasco Municipio, Puerto Rico               -0.58%           3.3%
 72015      Arroyo Municipio, Puerto Rico               -0.59%           4.9%
 72017      Barceloneta Municipio, Puerto Rico           0.26%           4.6%
 72019      Barranquitas Municipio, Puerto Rico         -0.31%           3.2%
 72023      Cabo Rojo Municipio, Puerto Rico            -0.08%           3.7%
 72027      Camuy Municipio, Puerto Rico                -0.85%           2.0%
 72029      Canóvanas Municipio, Puerto Rico             0.12%           4.6%
 72033      Cataño Municipio, Puerto Rico               -1.39%           4.6%
 72035      Cayey Municipio, Puerto Rico                -0.76%           3.1%
 72039      Ciales Municipio, Puerto Rico               -1.19%           3.2%
 72041      Cidra Municipio, Puerto Rico                -0.48%           5.8%
 72043      Coamo Municipio, Puerto Rico                 0.04%           2.5%
 72054      Florida Municipio, Puerto Rico              -0.26%           2.0%
 72061      Guaynabo Municipio, Puerto Rico             -1.08%           2.8%
 72063      Gurabo Municipio, Puerto Rico                1.19%           3.2%
 72065      Hatillo Municipio, Puerto Rico              -0.04%           3.2%
 72067      Hormigueros Municipio, Puerto Rico          -0.48%           5.1%
 72075      Juana Díaz Municipio, Puerto Rico           -0.69%           3.6%
 72079      Lajas Municipio, Puerto Rico                -0.96%           4.3%
 72081      Lares Municipio, Puerto Rico                -1.87%           2.7%
 72083      Las Marías Municipio, Puerto Rico           -1.64%           2.3%
 72085      Las Piedras Municipio, Puerto Rico           0.20%           4.4%
 72087      Loíza Municipio, Puerto Rico                -1.50%           0.8%
 72089      Luquillo Municipio, Puerto Rico             -0.66%           5.6%
 72093      Maricao Municipio, Puerto Rico              -0.94%           2.7%
 72101      Morovis Municipio, Puerto Rico              -0.03%           2.9%
 72107      Orocovis Municipio, Puerto Rico             -0.89%           5.2%
 72115      Quebradillas Municipio, Puerto Rico         -0.54%           1.3%
 72119      Río Grande Municipio, Puerto Rico           -0.36%           5.3%
 72123      Salinas Municipio, Puerto Rico              -0.73%           4.4%
 72133      Santa Isabel Municipio, Puerto Rico         -0.15%           2.1%
 72139      Trujillo Alto Municipio, Puerto Rico        -0.98%           5.1%
 72141      Utuado Municipio, Puerto Rico               -1.37%           5.3%
 72145      Vega Baja Municipio, Puerto Rico            -1.19%           2.9%
 72149      Villalba Municipio, Puerto Rico             -1.41%           2.2%
 72151      Yabucoa Municipio, Puerto Rico              -1.18%           4.8%
                                                                                                        61


Attachment B
Sample Format for Owners’ Requests for Assistance under this Notice:

Name of Owner:__________________________________________
Property Name:___________________________________________
Property Address: _________________________________________
County Name:______________________________________________

     1. Date of the maturity of the mortgage, expiration of the rental assistance contract,
        or expiration of the affordability restriction:

     2. I have attached a copy of all affordability restriction documents, rental assistance
        contracts, and renewals, and mortgage note documents related to the expiring/expired
        mortgage, contract or affordability restriction.

     3. I have attached a narrative statement explaining how the property meets the description
        of Category 1, Category 2 or Category 3, as defined in this Notice.

     4. I have attached documentation (such as a lease) showing that the households identified as
        at risk and not at-risk (under sections 8 and 9 below) resided at the property at the time of
        the mortgage maturity, rental assistance contract expiration, or affordability restriction
        expiration.

     5. I am seeking enhanced voucher (or project-based voucher) assistance.
     6. I have attached a statement certifying that I am in compliance with the civil rights
        threshold requirements set forth at section 3 (“Eligibility”) of this Notice.

     7. I have attached a statement certifying that the applicable monthly rents used in
        calculation of at-risk and not at-risk households are accurate according to the terms
        set forth at section 5 (“Identifying At-Risk Households”) of this Notice.

     8. Below is a list of unassisted units occupied by at-risk households, accompanied by a
        calculation that demonstrates that each at-risk household has an annual income equal to
        or less than HUD’s FY 2015 low income limit, and the household would (in the
        absence of this voucher assistance) have to pay more than 30 percent of their adjusted
        monthly income for rent.

      Unit     Household    Size of the   Household’s   HUD’s FY      Household’s   Applicable     Applicable
      Number   Name         Household     Annual        2015 Low      Adjusted      Monthly        Monthly
                            (e.g., 4      Income        income        Monthly       Rent of this   Rent/
                            person                      Limit for a   Income        Unit           Adjusted
                            household)                  Household                                  Monthly
                                                        this Size                                  Income
                                                                                                   [more than
                                                                                                   30%]
 1
 2
                                                                                                     62

     9. Below is a list of unassisted units occupied by households determined not to be at-risk,
        accompanied by a calculation that demonstrates that each household has an annual
        income greater than HUD’s FY 2015 low income limit, or the household would not (in
        the absence of voucher assistance) have to pay more than 30 percent of their adjusted
        monthly income for rent.

      Unit     Household    Size of the   Household’s   HUD’s FY      Household’s   Applicable     Applicable
      Number   Name         Household     Annual        2014 Low      Adjusted      Monthly        Monthly
                            (e.g., 4      Income        income        Monthly       Rent of        Rent/
                            person                      Limit for a   Income        this Unit      Adjusted
                            household)                  Household                                  Monthly
                                                        this Size                                  Income
                                                                                                   [not more
                                                                                                   than 30%]
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

     10. Below is a list of unassisted units occupied by households that did not provide me with
         income information.

      Unit      Household
      Number    Name
1
2
3
4
5
6
7
8
9
10

Source: Legislative text reproduced verbatim
Plain English

PIH Notice 2015-07 makes up to $7 million in Tenant Protection Vouchers (TPVs) available for FY 2015 to help low-income households in tight rental markets who face rent burdens after certain HUD-related affordability protections expire. Eligible triggering events include the maturity of specific HUD-insured loans, the expiration of certain rental assistance contracts, or the lapse of HUD-imposed affordability restrictions. Assistance may be delivered as enhanced vouchers or project-based vouchers, both administered through Public Housing Agencies (PHAs).

Written by anthropic/claude-sonnet-4.6 · Reviewed on October 7, 2026

Plain English — not legal advice.

For Property Managers

Under PIH Notice 2015-07, property owners who believe their property qualifies under Category 1, 2, or 3 generally notify residents in writing before applying, document resident incomes using the streamlined method described in section 5, and submit a complete request package to the HUD Multifamily Hub or Program Center Director. Compliant operators also certify civil rights threshold compliance and applicable monthly rents, and coordinate with the local PHA on rent reasonableness before assistance is finalized. Owners may reference Attachment B for a sample request format.

General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.

For Tenants

PIH Notice 2015-07 is designed to protect low-income renters in tight rental markets whose housing costs may spike after certain HUD affordability protections expire. If an owner applies for assistance under this notice, residents have the right to be notified in writing and, if they disagree with the owner's income determination, may request that the administering PHA recalculate their eligibility. Tenants who believe they qualify but were excluded may contact a local tenant-rights organization or the administering PHA to understand available options.

General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.

Generated October 7, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.

Effective Timeline

Current
Oct 6, 2026
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Related Rules

§ 574.605
§ 574.605 Applicability of uniform administrative requirements, cost principles, and audit requirements for Federal awards.
§ 574.625
§ 574.625 Conflict of interest.
§ 574.645
§ 574.645 Coastal barriers.

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