Update: Pleasant Surprise: Oregon HUD MF Assisted Projects Get Big OCAF Boost.

Correction: Oregon state increase is third largest in FY 2009, behind Alaska and Mississippi.

Last year I wrote HERE about FY 2008 OCAF (Operating Cost Adjustment Factors) increases that were lower for Oregon than for Washington and Idaho.

Well, this year the picture is reversed. Oregon OCAF's are higher for Oregon than in Idaho and Washington.

In the Monday Federal Register the state OCAF's for Multifamily assisted projects will be published for FY 2009 (which began October 1st.). Some highlights:

• The Oregon OCAF for FY 2009 is 7.9% vs a 3.3% OCAF in FY 2008. The Oregon FY 2009 OCAF is the third largest for any state and is the largest for Oregon in the last 11 years.
• Washington projects get a 2.3% OCAF in FY 2009 vs. a 6.0% OCAF in FY 2009
• Idaho projects get a 4.7% OCAF in FY 2009 vs. a 6.1% OCAF in FY 2009
• Alaska projects get a 12.4% OCAF in FY 2009 vs. a 3.9% OCAF in FY 2008. [Alaska's FY 2009 OCAF is the largest OCAF for any state].
• The U.S. Average OCAF for FY 2009 is 4.3% vs a 4.1% OCAF in FY 2008.
  

Table HERE I constructed shows state annual OCAF's for the last 11 years, from FY 1999-FY 2009. Advance copy of Federal Register publication with FY 2009 state OCAF's is HERE.

Note: OCAF's are NOT the same as rent increases. Contract Rent changes are calculated by applying OCAF to project expenses that EXCLUDE debt services. Unless debt service is zero, the actual contract rent increase will always be lower than the OCAF % increase.