Stop-Loss

Under the new Operating Fund rule, PHAs that will experience a decline in funding can have their losses “stopped” by demonstrating a successful conversion to asset management, i.e., “stop-loss.” This website contains information for PHAs regarding Stop-Loss.

The Year 3 Stop-Loss application deadline is October 15, 2008. Adhere to the Year 3 Stop Loss Submission Kit which will be available on this site within the next couple of weeks, and any current and subsequent PIH Notices. Send two (2) copies to the Financial Management Division; send one (1) copy to your local Field Office. In total, three (3) copies should be sent on behalf of the PHA.

PIH Notice 2008-31, Guidance on Demonstration of Successful Conversion to Asset Management to Discontinue the Reduction of Operating Subsidy, Year 3 Applications, issued July 17, 2008.

	Abbreviated Submissions for Year 2 Stop Loss   Notification for Year 1 Stop-Loss Applicants - Any PHA that submitted an application for Year 1 but, as of March 1, 2008, has not received an official denial letter from the Department only needs to submit an abbreviated application, for large PHAs (250 or more units) submission is due by the Year 2 deadline of April 15, 2008 and for small PHAs (249 or less) submission is due by April 30, 2008. The abbreviated application includes only the following five items, as described in the Year 2 Stop-Loss Submission Kit, dated June 29, 2007:   Item 3 (Agency-Wide Schedule of Salary and Positions)   Item 4 (Board Resolution Approving Project and COCC Budgets)   Item 5 (Operating Budgets)   Item 16 (Operating Statements)   Item 17 (Schedule of Flat Rents, by AMPs) The PHA will then be provided with 45 days from the date of HUD’s official denial letter to submit documentation for any failed criteria. No additional information will be required for criteria found acceptable in the Year 1 application. HUD will review submitted material to determine whether or not an on-site assessment is required.
	Stop-Loss PHA Guidance PHAs will find Stop-Loss Guidance regarding the process to review Stop-Loss applications. PHAs will also find a Tool solely for the aid of the contract team in conducting assessments; however, PHAs may find this Tool useful in reviewing this check-list in preparation for an on-site review.
	Stop-Loss Reviewer Checklist Tool (MS-Excel)
	PIH Notice 2007-16, This notice provides information for public housing agencies (PHAs) that wish to submit documentation of successful conversation to asset management in order to discontinue their reduction in operating subsidy.
	PIH Notice 2006-35, This notice amends PIH notice, PIH 2006-14 (HA), issued, March 22, 2006, to extend the application submission deadline to qualify for the first stop-loss deadline to April 15, 2007.
	PIH Notice 2006-14, Operating Fund Program Final Rule: Transition Funding and Guidance on Demonstration of Successful Conversion to Asset Management to Discontinue the Reduction of Operating Subsidy, issued March 22, 2006.
	Demonstrating Successful Conversion To Asset Management: A Site Visit to the Charlotte Housing Authority
	Supplemental Information Regarding Year 3 Stop-Loss Submissions
	Stop-Loss Year 3 Submission Kit   Stop-Loss Year 3 Fillable Forms (All forms are in MS-Word)   Attachment A-Checklist of Required Information   Attachment B-PHA Data Form   Attachment C-Agency Wide Schedule of Salaries and Positions   Attachment D-Certifications of Long Term Capital Planning   Attachment E-Certification of Compliance with Risk Management Responsibilities   Board Resolution Approving the AMP Budgets   COCC Budget   Description of How Management Services are arranged   Flat Rents
	Guidance - Early Fee for Service Implementation Instructions - This is in response to recently received questions from PHAs that are preparing their Year 1 Stop Loss applications. (Posted: March 16, 2007)
	Frequently Asked Questions (Oct. 2, 2006)
	Frequently Asked Questions - Stop Loss Extension (Oct. 2, 2006)
	Additional Frequently Asked Questions Related to Stop Loss - Part I As the deadline for Year One applications for stop loss approaches, PHAs have generated a number of questions. (Posted: March 21, 2007)
	Additional Frequently Asked Questions Related to Stop Loss - Part II (Posted: April 3, 2007)