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Public Housing Assessment System
PHAS Interim Rule
Overview and Key Points
October 24, 2011
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Interim PHAS: Four Indicators ·40
points ·25
points Physical
Condition Financial Condition
Capital Fund Program
Management Operations
·10 points
·25 points
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Interim PHAS: Global Changes
The Resident Service and Satisfaction Indicator was removed
Substandard Performers are not designated as Troubled PHAs
Interim PHAS scores only the public housing program— financial assessments will not be entity-wide
Mixed-finance projects will not receive financial or management scores; they will receive a physical score
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Interim PHAS Data Sources
Self Certifications are eliminated.
Indicators will be measured using data from:
Financial Assessment Sub System (FASS)
Physical Assessment Sub System (PASS) (from Uniform Physical Condition Standards (UPCS)
inspections)
The electronic Line of Credit Control System (eLOCCS)
PIH Information Center (PIC)
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Physical Condition Indicator Changes
Points increased from 30 to 40
Exigent Health and Safety violations may now be corrected, remedied or abated by a PHA Physical Condition and Neighborhood Environment adjustment
moved to Management Operations Indicator Technical review requests due 30 days after the date the inspection report is released Database adjustment requests due 45 days after the date the inspection report is released
3-2-1 Incentive for Physical Inspection Frequency
Baseline inspections of all projects will begin for PHAs with FYE March 31, 2011
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YEAR(S)
2
3
UPCS Inspection Frequency PHAs with less than 250 units
(Frequency of PHAS based upon PHAS score)
High performer PHAS score: ≥90 (and not Capital Fund Troubled)
PHAS and UPCS Inspections every 3rd year
Standard & Substandard PHAS score: 60-89 PHAS and UPCS Inspections every 2nd year
1
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Troubled PHAS score <60 or Capital Fund Troubled PHAS and UPCS Inspections every year
UPCS Inspection Frequency PHAs with 250 units or more
(Frequency based upon the project PASS score)
YEAR(S)
3
2
1 1 Troubled: PHAS score <60 or Capital Fund Troubled
UPCS Inspections of all projects every year
Project score 80 but less than 90 UPCS project Inspection every 2nd year
Project score ≥90 UPCS project Inspection every 3rd year
Project score <80 UPCS project Inspection every year
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Financial Indicator Changes
Points decreased from 30 to 25
Three sub-indicators
Quick Ratio (QR) Months Expendable
Net Asset Ratio (MENAR)
Debt Service Coverage Ratio
(DSCR)
Measures liquidity Measures adequacy
of reserves Measures capacity
to cover debt
12 points 11 points 2 points
High Liquidity Adjustment discontinued 8
Real Estate Assessment Center Version 2.0 PHAS Interim Rule
Management Operations Indicator Changes
Points decreased from 30 to 25
Three sub-indicators
Occupancy Tenant Accounts Receivable (TAR)
Accounts Payable (AP) [New]
Includes allowable vacancies
Amount of tenant accounts receivable
against tenant charges
Amount of money owed to vendors
16 points 5 points 4 points 12
Real Estate Assessment Center Version 2.0 PHAS Interim Rule
Physical Condition Neighborhood Environment Projects at least 28 years old based on weighted DOFA data
Projects in census tracts in which at least 40% of families have an
income below poverty rate
1 point 1 point
Physical Condition and Neighborhood Environment (PCNE) adjustments
Management Operations Indicator Changes (continued)
PCNE is automatically calculated using information from PIC and added at the project level before computing the weighted average
MASS score
Real Estate Assessment Center
Version 2.0
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PHAS Status Designation Composite PHAS Score
Individual Indicator Score
High Performer Overall PHAS score of 90% or higher
At least 60% of total points available in PASS(24), MASS(15), FASS(15) and 50%
of the total points for CFP(5)
Standard Performer
Overall PHAS score of at least 60%
Not less than 60% of total points available in PASS(24), MASS(15),
FASS(15) and 50% of the total points for CFP(5)
Substandard Performer
Overall PHAS score of at least 60%
Less than 60% in one or more of the PASS, FASS, or MASS indicators
Troubled Less than 60% of the
overall PHAS score ---
Capital Fund Program (CFP)
Troubled ---
Less than 50% on CFP indicator
PHAS Designation Status (24 CFR 902.11)
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Designations & Assessments Small PHAs
High Performer
Standard Performer
Substandard Performer
Troubled Capital Fund Program Troubled
Receives PHAS assessment: Every 3 years Every 2 years Every 2 years Every year Every year
Large PHAs
Standard Substandard Troubled High Performer Performer
Performer
Receives PHAS Every Every Every Every assessment: year year year year
Capital Fund Program Troubled
Every year
PASS inspections ≥90 80-89 ≤79 (Based on
Every 3 Every 2 Every individual project Every 2 years*
scores) years* years* year**
Every year**
* Based on individual project scores, the projects will be inspected according to the 3-2-1 rule ** Based on PHAS score designations, ALL projects in the PHA will be inspected every year
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Questions
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