NOTICE TO ALL RESIDENTS – PUBLIC HEARING
in Flat Rents Effective August 1, 2014
Upon annual reexamination, residents have the choice of selecting flat rents or income based rents. Flat rents are based on the market rent charged for comparable units in the private unassisted market and must be updated annually.
2014 Appropriations Act requires Housing Authorities to establish flat rents at no less than 80 percent of the fair market rent (FMR). Based on the FMR for Bristol, flat rents will change effective August 1, 2014 as follows:
Flat Rent New Flat Rent
Efficiencies $332 $346
1 bedroom $390 $390
2 bedroom $478 $494
3 bedroom $548 $646
4 bedroom $590 $730
5 bedroom $679 $840
Increases in rent due to flat rent will occur with your annual reexamination. This increase only applies to residents who choose the flat rent option.
BRHA Admission and Continued Occupancy Policy (ACOP) will be adjusted to update flat rent information as stated above.
A public hearing to make comments on this change is scheduled for 1:30 p.m. on July 23, 2014 at the main office of the Housing Authority.
Bristol Redevelopment & Housing Authority
809 Edmond Street
Bristol, VA 24201
Date of Notice: June 13, 2014