Approximately $2 billion from the American Recovery and Reinvestment Act (ARRA or "stimulus") were used by HUD to fill gaps in payment of a number of rental assistance contracts and to effectuate full 12-month renewals for some contracts. National ARRA standards require quarterly reporting until funds are spent. HUD tried to minimize the burden on multifamily owners, most of whom have no idea whether contract funds were from normal appropriations or the stimulus bill, but were ultimately unsuccessful.
As a result, HUD announced to AAHSA and others on Sept 15 that they are now in the process of getting out a range of information on these ARRA reporting requirements. Impacted owners will received notification via TRACSMail, and additional details will be sent out from HUD field office to owners in the next couple days, with additional information to be posted on the HUD/TRACS website. Reporting must occur between October 1 and 10, 2009. A list of those who will be required to report is now available. As soon as details are available, AAHSA will circulate them via the housing management listserv .