To: Contra Costa County Board of Supervisors
From: Joseph Villarreal, Executive Director
Report Title: Memorandum of Understanding with the City of Alameda Housing Authority, the Housing Authority of the County of Alameda, the Oakland Housing Authority, and the Livermore Housing Authority for the implementation of a Fair Market Rent (FMR) reevaluation study for the Oakland Fremont, CA HUD Metro FMR Area
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
APPROVE and AUTHORIZE the Executive Director to enter into a Memorandum of Understanding with the City of Alameda Housing Authority, the Housing Authority of the County of Alameda, the Oakland Housing Authority, and the Livermore Housing Authority obligating the HACCC to a payment limit of $300,000 for its share of one or more Fair Market Rent (FMR) reevaluation studies for the Oakland?Fremont, CA HUD Metro FMR Area to be conducted as needed over a five-year period.
BACKGROUND:
The Housing Authority of the County of Contra Costa (Authority) is committed to maximizing support for Contra Costa County residents while using resources efficiently. To achieve this goal, the Authority requires accurate data on the typical rents in its jurisdiction. The Authority intends to execute a Memorandum of Understanding (MOU) and work in collaboration with several other local public housing authorities (PHAs) in the Oakland-Fremont, CA HUD Metro Area to reevaluate the region's fair market rents (FMRs), which are used by the U.S. Department of Housing and Urban Development (Department) as the foundation for Housing Choice Voucher funding as well as to establish payment standards and allocate funding.
FMRs represent an estimate of the 40th percentile of standard-quality gross rents for a given region, calculated using 2018-2022 five-year American Community Survey (ACS) data adjusted for inflation and other factors. Because these estimates are not based on current, direct rent sampli...
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