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2 P`iI NT FyoN U.S.DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON,DC 20410-5000 o* � � I*xz OFFICE OF PUBLIC AND INDIAN HOUSING `aAN .�E� March 2, 2012 OFFICE OF PUBLIC AND INDIAN HOUSING REAL ESTATE ASSESSMENT CENTER Mr. Steven Bocian Executive Director Housing Authority Of The City Of Pleasanton PO Box 520 Pleasanton, CA 94566 Dear Mr. Bocian: SUBJECT: Eligibility for Calendar Year 2012, Public Housing Operating Fund Program, Project No. CA081000001 This letter provides information related to your Public Housing Agency's (PHA) Calendar Year 2012 Operating Fund program eligibility and Allocation Adjustment. After HUD's review of your PHA's HUD-52723, "Operating Fund Calculation of Operating Subsidy,"this project's eligibility has been determined to be $154,280. Please note that the eligibility for this project is subject to modification for revisions permitted in Notice PIH 2011-55, Public Housing Operating Subsidy Calculations for Calendar Year 2012. Final HUD-52723s will be posted on the Calendar Year 2012 Subsidy website at the end of the federal fiscal year. The project funding amount is $104,392. The project funding amount takes into account the Allocation Adjustment for each PHA. The methodology used to determine this amount is provided in a schedule in greater detail below. As background, the FY 2012 Appropriations Act included a provision that directed HUD to offset up to $750 million from PHAs operating reserves (i.e., Operating Fund allocation adjustments). To determine an individual PHA's allocation adjustment, HUD identified the amount of reserves above a minimum reserve level (equivalent to six months of expenses for a small PHA, four months for all other PHAs, but in no event less than $100,000). Next, each PHA's allocation adjustment was calculated. Where a PHA's allocation adjustment exceeded their Operating Subsidy eligibility, their allocation adjustment was capped to 12 months of their eligibility. The Department afforded PHAs the opportunity to appeal the allocation adjustment determined by HUD (the exclusion request process described in PIH Notice 2011-55). Allocation adjustment appeals went through a rigorous review process within the Department. Significant HUD resources were dedicated to the review of all appeals,to ensure a fair and equitable process, and to further ensure that HUD could provide PHAs their eligibility amounts earlier this year than ever before. HUD's efforts in this regard were focused on providing timely eligibility information to assist PHAs in forecasting and budgeting to better enable PHAs to manage in an austere fiscal environment. www.hud.gov espanol.hud.gov