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Fayetteville Housing Authority opens RFQ for banking services and approves annual payment standards
Summary
After recurring banking problems affecting staff and clients, the board authorized a request for qualifications to review banking services and approved annual payment standards required by HUD for voucher and public-housing programs.
The Fayetteville Housing Authority board voted to open a request-for-qualifications (RFQ) process for banking services after staff described a series of operational problems with the authority’s bank, including undocumented fees and instances where the bank refused to cash checks for clients.
Director Tapley told the board the banking issues have imposed administrative burdens on staff and clients and said the authority will present RFQ responses and recommendations to the board as it completes the review.
The board also approved two routine but required annual resolutions setting payment standards tied to HUD fair market rents: resolution 13-67 (voucher payment standards) and resolution 13-68 (public housing payment standard adjustments). Tapley explained HUD allows voucher programs to set payment standards up to certain percentages of the HUD fair market rent (e.g., up to 110% for vouchers and up to 120% for VASH), and the board approved the numbers as a formality to meet HUD requirements.
The RFQ vote (resolution 13-66) passed and staff will issue the RFQ and return with recommendations to the board.
