The Act, as Massac County Housing Authority Director Paul McKnight has explained to residents over the course of three public meetings that were held Monday and Tuesday, requires housing authorities’ across the U.S. to increase the flat rate rent to 80 percent of what the Fair Market Rate (FMR) would be.
McKnight said it’s been several years since Massac County Housing Authority has raised its flat rate rent, and said the authority could have been raising the rent all along, but elected to keep rent as low as possible. The housing authority must comply with the new act by November 1, which is the target date.
The Fair Market Rate figures announced by MCHA are:
• 1 Bedroom: $397
• 2 Bedroom: $537
• 3 Bedroom: $669
• 4 Bedroom: $950
But instead of current housing authority members seeing an 80 percent increase at one time, the MCHA is increasing the rent in increments, with the first increase slated to be 35 percent higher, until the new rent levels are at the 80 percent of the FMR.
The new flat rate rent amounts, based on the 35 percent increase would be:
• 1 Bedroom: $344
• 2 Bedroom: $398
• 3 Bedroom: $520
• 4 Bedroom: $608
McKnight explained to residents, some residents paying flat rate rent could see only a small increase, while others would see larger increases in their rent. He emphasized even at the higher levels the rent is still subsidized.
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