Office of Capital Improvements - Office of Public Housing Investments
The Office of Capital Improvement is one of three Offices under the Deputy Assistant Secretary for Public Housing Investments (PHI). The other two offices under the DAS for PHI are Office of Urban Revitalization (HOPE VI) and the Special Applications Center (SAC), which is located in Chicago, Illinois.
The Office administers the Capital Fund program, which provides funds annually via a formula to approximately 3,200 public housing agencies (PHAs) across the country. PHAs may use Capital Fund grants for development, financing, modernization, and management improvements. The Office of Capital Improvements also oversees the Capital Fund Financing Program that authorizes PHAs to borrow funds conditioned on a promise to pay the debt service from Capital Fund grants. The Office provides technical assistance to PHAs as well as, to HUD Field Offices relating to development, financing, modernization, and management improvements of public housing developments. It prepares quarterly reports to Congress on the status of the obligation and expenditure of Capital Fund grants and implements the statutory sanctions for PHAs that are in noncompliance with the statutory deadlines.
The Office is also responsible for the development of the Total Development Cost (TDC) limits and issuing a TDC Notice. The TDC provides the standard cost limits for developing public housing projects of various sizes, and types. The TDC limits also serve as a limit on the amount of money a PHA can spend to modernize their existing public housing.