RESIDENT POLICIES & FORMS
RESIDENT POLICIES & FORMS
HOUSING CHOICE VOUCHER PROGRAM
The federally funded Housing Choice Voucher Program (Section 8), is voluntary for both landlords and tenants. It helps eligible families of lower income with their monthly rent payments.
How it works:
A family whose household income is fifty percent or less of the area's medium household income (AMI) is qualified to participate in the program from the Longmont Housing Authority. Through a Housing Assistance Payment (HAP) contract, directly monthly payments are made to the landlord/property owner as a portion of the tenant's monthly rent payment. After allowances are made for utilities not included in the rent, the HAP makes up the difference in total amount due.
Example:
If thirty percent of a family's gross monthly income is $600.00, and rent (including utilities) for the selected apartment is $1,600.00 per month, the tenant pays the landlord $600.00 and the remaining $1,000.00 is paid to the landlord by the Longmont Housing Authority through the Housing Choice Voucher Program.
HOUSING CHOICE VOUCHER PROGRAM
The federally funded Housing Choice Voucher Program (Section 8), is voluntary for both landlords and tenants. It helps eligible families of lower income with their monthly rent payments.
How it works:
A family whose household income is fifty percent or less of the area's medium household income (AMI) is qualified to participate in the program from the Longmont Housing Authority. Through a Housing Assistance Payment (HAP) contract, directly monthly payments are made to the landlord/property owner as a portion of the tenant's monthly rent payment. After allowances are made for utilities not included in the rent, the HAP makes up the difference in total amount due.
Example:
If thirty percent of a family's gross monthly income is $600.00, and rent (including utilities) for the selected apartment is $1,600.00 per month, the tenant pays the landlord $600.00 and the remaining $1,000.00 is paid to the landlord by the Longmont Housing Authority through the Housing Choice Voucher Program.
HOUSING CHOICE VOUCHER PROGRAM
The federally funded Housing Choice Voucher Program (Section 8), is voluntary for both landlords and tenants. It helps eligible families of lower income with their monthly rent payments.
How it works:
A family whose household income is fifty percent or less of the area's medium household income (AMI) is qualified to participate in the program from the Longmont Housing Authority. Through a Housing Assistance Payment (HAP) contract, directly monthly payments are made to the landlord/property owner as a portion of the tenant's monthly rent payment. After allowances are made for utilities not included in the rent, the HAP makes up the difference in total amount due.
Example:
If thirty percent of a family's gross monthly income is $600.00, and rent (including utilities) for the selected apartment is $1,600.00 per month, the tenant pays the landlord $600.00 and the remaining $1,000.00 is paid to the landlord by the Longmont Housing Authority through the Housing Choice Voucher Program.
HOUSING CHOICE VOUCHER PROGRAM
The federally funded Housing Choice Voucher Program (Section 8), is voluntary for both landlords and tenants. It helps eligible families of lower income with their monthly rent payments.
How it works:
A family whose household income is fifty percent or less of the area's medium household income (AMI) is qualified to participate in the program from the Longmont Housing Authority. Through a Housing Assistance Payment (HAP) contract, directly monthly payments are made to the landlord/property owner as a portion of the tenant's monthly rent payment. After allowances are made for utilities not included in the rent, the HAP makes up the difference in total amount due.
Example:
If thirty percent of a family's gross monthly income is $600.00, and rent (including utilities) for the selected apartment is $1,600.00 per month, the tenant pays the landlord $600.00 and the remaining $1,000.00 is paid to the landlord by the Longmont Housing Authority through the Housing Choice Voucher Program.
SPECIAL POPULATION RESTRICTIONS
Senior Housing Communities, Aspen Meadows Apartments, The Lodge and Hearthstone at Hover Crossing, Fall River Apartments, and Village Place Apartments, are restricted for households in which all members are 62 years of age or older. Spring Creek Apartments are open to households with at least one household member that is 55 years of age or older.
SPECIAL POPULATION RESTRICTIONS
Senior Housing Communities, Aspen Meadows Apartments, The Lodge and Hearthstone at Hover Crossing, Fall River Apartments, and Village Place Apartments, are restricted for households in which all members are 62 years of age or older. Spring Creek Apartments are open to households with at least one household member that is 55 years of age or older.
SPECIAL POPULATION RESTRICTIONS
Senior Housing Communities, Aspen Meadows Apartments, The Lodge and Hearthstone at Hover Crossing, Fall River Apartments, and Village Place Apartments, are restricted for households in which all members are 62 years of age or older. Spring Creek Apartments are open to households with at least one household member that is 55 years of age or older.
Senior Housing Communities, Aspen Meadows Apartments, The Lodge and Hearthstone at Hover Crossing, Fall River Apartments, and Village Place Apartments, are restricted for households in which all members are 62 years of age or older. Spring Creek Apartments are open to households with at least one household member that is 55 years of age or older.
Senior Housing Communities, Aspen Meadows Apartments, The Lodge and Hearthstone at Hover Crossing, Fall River Apartments, and Village Place Apartments, are restricted for households in which all members are 62 years of age or older. Spring Creek Apartments are open to households with at least one household member that is 55 years of age or older.
2018 LHA AUDIT
MANAGEMENT STATEMENT
We have provided a copy of our audit report dated July 2, 2019, for the year ended December 31, 2018, which was audited by Eide Bailly, LLP. In addition to the audit report, we have also provided the readers with some additional details that relate to our financial statements. This document is intended to provide additional detailed narrative regarding the operations of the agency in 2018. This narrative was prepared by Lori Mora, Chief Executive Office and the audits were approved by the Board of Directors on July 16, 2019.
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In 2018 the LHA received additional funding for the Housing Choice Voucher Program from HUD-Held Reserves totaling $141,366; thus, increasing the restricted cash at year end. These funds were not fully expended in 2018 and thus recaptured by HUD in mid-2019.
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In 2017 the LHA received a substantial developer’s fee from the rehabilitation of the Suites Supportive Housing community. Consequently, in 2018 operating revenues decreased by $1,259,652 because those funds were recorded in 2017, not 2018.
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Our 2018 audit shows that operating expenses increased by $873,913 as compared to 2017. The increase was due to an increase in administrative salaries and other administrative expenses as compared to the prior year. This increase is due, in large part, to shifting allocations as delineated below:
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In 2017 the LHA had development projects underway which allowed for some salary expense to be allocated to the Longmont Housing Development Corporation. In 2018, those projects were either completed or in construction phase and no longer required development oversight. Consequently, that salary expense was allocated directly to the Authority in 2018 instead of to the development organization.
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In 2018 the Authority transitioned staff. During the process an interim executive director was contracted. This expense was non-recurring and recorded as administrative salary in 2018.
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In 2018 GASB Statement No. 75 was instituted which requires the Authority to account for and report the agency’s proportionate share of the other post-employment health care benefit. The reflection of this requirement is recorded as administrative salary.
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Additional non-reoccurring expenses included the use of staffing agencies to fulfil ongoing and temporary staffing needs. These expenses are non-recurring and recorded as other administrative expenses.
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The Suites Apartments LLLP is a permanent supportive housing community. Per the Tenant Services Agreement implemented on September 5, 2018, Agreed Services at the property are the responsibility of the Authority. The Partnership may reimburse for the costs incurred by the Authority for these services at year-end solely from cash flow. At the end of 2018 the property did not cash flow positively; therefore, expenses were not reimbursed to the Authority. Agreed Services expenses are recorded as administrative expenses.
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In 2018, the Authority required legal services to respond to various issues. Legal services were expensed to other administrative expenses.
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