Stimulus Funding Used to Fill HUD Rental Subsidy Gaps Will Trigger New Reporting Requirements for Some

Because the U.S. Department of Housing and Urban Development (HUD) used approximately $2 billion from the American Recovery and Reinvestment Act (ARRA or "stimulus") to fill payment gaps for a number of rental assistance contracts and to effectuate full 12-month contract renewals for others, some 5,000 properties will have to report at least once, and others quarterly for the year -- or until their portion of the ARRA funds are expended. HUD will issue reporting details and provide guidance for answering questions on www.federalreporting.gov. The first quarterly reports must be submitted online between Oct. 1-10. All owners reporting on ARRA funds or renewing HUD subsidy contracts in the future will be required to use a Data Universal Numbering System (DUNS) number. To access your number, visit http://www.hud.gov/grants/index.cfm