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HUD Sets 2015 Operating Cost Adjustment Factors

Wednesday, October 1, 2014 - 7:00AM

In tomorrow’s Federal Register, the U.S. Department of Housing and Urban Development (HUD) will publish a notice establishing the operating cost adjustment factors (OCAFs) for project-based assistance contracts for eligible multifamily housing projects that have an anniversary on or after Feb. 11, 2015. The factors are used to adjust Section 8 rents renewed under section 524 of the Multifamily Assisted Housing Reform and Affordability Act of 1997. OCAFs are calculated as the sum of weighted average cost changes for wages, employee benefits, property taxes, insurance, supplies and equipment, fuel oil, electricity, natural gas and water/sewer/trash. The 2015 OCAFs are effective Feb. 11, 2015.

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