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  6. Operating Fund Program - HUD
  7. Frequently Asked Questions Year 1 Stop-Loss Applicants October 9, 2008 - HUD
Frequently Asked Questions Year 1 Stop-Loss Applicants October 9, 2008

  1. If my PHA passed in Year 1, must it submit anything else to HUD for Year 2 or Year 3?
    Answer: No. If your agency passed Year 1, you do not need to submit any other documentation to the Department for Year 2 or 3.

  2. If my agency passed Year 1, will my losses be stopped at 5%?
    Answer: Yes. Your losses will stop at 5% for Calendar Year 2008 and until development of a new formula.

  3. If my agency received a denial letter, must it submit a Management Response?
    Answer: Only if the agency desires to have the Department reconsider its denial designation; however, those Management Responses must be submitted within 15 days of the date of the denial letter.

  4. If my agency submits a Management Response, and the response is denied, what should it do next?
    Answer: Your agency has 45 days from the date of HUD's official denial letter to submit documentation for any failed criteria. No additional information will be required for criteria found acceptable in the Year 1 application. HUD will review submitted material to determine whether or not an on-site assessment is required.
  5. If my PHA's Year 2 submission is subsequently denied, what are its next steps?
    Answer: Again, the PHA will have an opportunity to submit a Management Response. If that Management Response is denied, the PHA will have 45 days from the date of HUD's denial of the Management Response to address only the failed criterion from Year 2.
  6. If my agency submitted an application in Year 1 and was denied, does my agency have to apply for the Year 3 10/15/08 application deadline?
    Answer: Any agency that was denied in Year 1, does not have to submit for the Year 3 10/15/08 application deadline. Subsequently, the PHA will have to submit failed criterion from Year 1 to pass Year 2 and Year 3.

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