Notice H08-08 (MS Word) is HERE.
Amounts given are to be used "for calculating the annual per person/per unit amount of a Project Rental Assistance Contract (PRAC) when making Fiscal Year 2008 subsidy fund reservations for Capital Advance applications under the subject programs."
On last page of Notice, operating cost standard for Portland is given as $4,378, less than Anchorage, Seattle, and Spokane, but more than Boise.
But notice also says "Historically, some areas significantly exceed the National CPI average. To assure that those areas are not precluded from program participation, each HUD Office noted below is authorized to adjust its annual OCS by up to the additional percentage shown: .... Seattle – 8.9 percent "
Notice also says that PRAC terms for these new projects are being cut from 5 to 3 years.
Comment: Historically HUD used to announce 202/811 awards before the elections, but not clear that this will happen this year.
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