[PAGE 1]
Board of Commissioners Meeting
Tuesday, February 24, 2026, 12 pm
Olivette City Center
1140 Dielman Road
Olivette, Missouri 63132
AGENDA
Item Individual Action
1. Roll Call Terri Acoff-States Informational
2. Approval of Minutes Chair Motion, 2nd, Vote
Regular Meeting October 28, 2025
3. Public Comments Chair Informational
4. Mayor’s Report Mayor Clark Informational
5. Executive Director’s Report Shannon Koenig Informational
6. Financial Reports Ben Washington Motion, 2nd, Vote
7. Other Business
A. Public Housing Performance Report Kawanna Tate Informational
B. Real Estate Development Report Kurt Schulte Informational
D. Annual Meeting Terri Acoff-States Informational
8. Executive Session Chair Motion, 2nd, Vote
Subject to an affirmative vote of the Board of Commissioners, an Executive Session may be held to discuss
personnel issues, real estate, or litigation matters pursuant to RSMo Sections 610.021 to 610.022.
9. Next Meeting Chair Informational
April 28, 2026
10. Adjournment Chair Motion, 2nd, Vote

[PAGE 2]
OLIVETTE HOUSING AUTHORITY
BOARD OF COMMISSIONERS MEETING
TUESDAY, OCTOBER 28, 2025
MEETING MINUTES
ROLL CALL:
COMMISSIONERS:
Nikeyia Ingram, Chair
Ellen Schapiro, Vice Chair
Stephanie Afful, Commissioner
Suzann Antoine, Commissioner
Kisha Lee, Commissioner
STAFF:
Shannon Koenig, Executive Director and CEO
Terri Acoff-States, Executive Assistant
Benjamin Washington, Chief Financial Officer
Kawanna Tate, Director, Housing Administration
Kurt Schulte, Development Officer
GUESTS:
Sidney Clark, Mayor
Maxine Weil, Mayor Pro-Tem
Darren Mann, Finance Director
Approval of Minutes of Regular Board Meeting held Tuesday, August 26, 2025.
Chair Ingram asked for a motion to approve the minutes of the regular board meeting held Tuesday, August
26, 2025. Vice Chair Schapiro motioned for approval. Commissioner Antoine seconded the motion. Upon
roll call the “Ayes” and “Nays” were as follows:
AYES NAYS
N. Ingram None
E. Schapiro
S. Antoine
K. Lee
The Chair declared the motion passed.
PUBLIC COMMENTS:
There were no public comments.
CITY OF OLIVETTE REPORT:
Mayor Clark greeted everyone and delivered an update on city business and activities happening in the
Olivette community.
EXECUTIVE DIRECTOR’S REPORT:
Ms. Koenig greeted everyone and thanked them for attending the meeting.
Ms. Koenig presented the board with an overview of changes to the federal government that directly impact
Olivette Housing.
Ms. Koenig additionally provided the board with an update on FY26 federal appropriations and the potential
impact to the 2026 budget.
1

[PAGE 3]
OLIVETTE HOUSING AUTHORITY
BOARD OF COMMISSIONERS MEETING
TUESDAY, OCTOBER 28, 2025
MEETING MINUTES
Ms. Koenig presented the board with the third quarter Agency Performance Report Results for 2025. She
stated the report had been updated to reflect second quarter progress on key results. Ms. Koenig said staff
continue to make progress meeting the core objectives.
FINANCIAL REPORT:
Mr. Washington reviewed the Financial Reports for the period ending August 31, 2025.
After discussion, Chair Ingram asked for a motion to approve the Financial Reports for period ending August
31, 2025. Commissioner Antoine motioned for approval. Vice Chair Schapiro seconded the motion. Upon
roll call the “Ayes” and “Nays” were as follows:
AYES NAYS
N. Ingram None
E. Schapiro
S. Antoine
K. Lee
The Chair declared the motion passed.
OTHER BUSINESS:
A. Olivette Housing Authority FY 2026 Budget - Resolution No. 1454:
Mr. Washington presented the board with the proposed Olivette Housing Authority FY 2026 Budget.
After review and discussion, Commissioner Lee asked for a motion to approve Resolution No. 1454,
Olivette Housing Authority FY 2026 Budget. Commissioner Antoine motioned for approval, Chair Ingram
seconded the motion. Upon roll call the “Ayes” and “Nays” were as follows:
AYES NAYS
N. Ingram None
E. Schapiro
S. Antoine
K. Lee
The Chair declared the motion passed.
B. Public Housing Performance Report:
Ms. Tate reviewed public housing activities within the framework of the Public Housing Assessment
System. She presented an overview of the physical, management, and financial assessment
subsystems along with the progress of the capital fund program.
C. Real Estate Development Report:
Mr. Schulte provided an overview of current efforts to reposition the Olivette Housing Authority’s PHA
units on Rothwell Heights Lane.
Mr. Schulte reported that the tax credit application that was submitted in June for 4% Federal Low-
Income Housing Tax Credits (LIHTC) was not selected for award.
2

[PAGE 4]
OLIVETTE HOUSING AUTHORITY
BOARD OF COMMISSIONERS MEETING
TUESDAY, OCTOBER 28, 2025
MEETING MINUTES
D. 2026 Board Meeting Schedule:
Ms. Acoff-States presented the Board with the 2026 Board meeting dates.
EXECUTIVE SESSION:
An Executive Session was not held.
NEXT BOARD MEETING:
The next meeting is scheduled for Tuesday, February 24, 2026.
ADJOURNMENT OF MEETING:
There being no further business to come before the board, Chair Ingram asked for a motion to adjourn.
Commissioner Lee moved for adjournment, which motion was seconded by Vice Chair Schapiro. Upon roll
call, “Ayes” and “Nays” were as follows:
AYES NAYS
N. Ingram None
E. Schapiro
S. Afful
S. Antoine
K. Lee
The Chair declared the motion passed.
_______________________________
Chair
________________________
Secretary
________________________
Date
3

[PAGE 5]
MEMORANDUM
To: Olivette Housing Authority Board of Commissioners
From: Shannon Koenig, Executive Director and CEO
Date: February 24, 2026
Subject: Executive Director’s Report
This memo provides an update on various Olivette Housing Authority related items.
I. FY26 Federal Appropriations Update
Congress approved the FY 2026 Transportation, Housing and Urban Development
(THUD) appropriations bill which retains an anticipated reduction to the Public Housing
Operating Fund. Proposed funding for the Capital Fund matches previous years.
NAHRO’s recent report on the approved THUD appropriations is attached.
II. Annual Customer Service Survey Results for 2025
At County Housing, we value the input of our residents, participants, and property
owners. Each year, our annual customer service survey helps us gauge satisfaction,
identify areas for improvement, and celebrate successes. In November 2025, we
conducted our latest survey, focusing on key interactions with customer-facing roles
and processes. The attached summary provides highlights from this year’s results.
III. Fourth Quarter Agency Performance Report Results
The Agency Performance Report for 2025 has been updated to reflect fourth quarter
progress on updated key results (attached).
IV. Planning and Strategy
County Housing is planning work for 2026 and beyond, including revisiting strategic
objectives. This year, we will refine our focus to stabilizing and maintaining our
operation while continuing to expand access to affordable housing. This will ensure we
remain focused on our core mission and deliver on our key success metric: the number
of residents we house. We will continue to monitor our performance using reliable key
performance indicators including PHAS and our annual financial audits. In addition, we
will continue to strengthen resident services and engagement.
V. Attachments
NAHRO Appropriations Update
2025 Customer Service Survey Report
2025 Final Agency Performance Report

[PAGE 6]
Congress Passes Full Year 2026 THUD Bill,
Ends Partial Government Shutdown
The partial government shutdown that began after the Continuing Resolution expired on January 30
has now come to an end, following congressional action to fund key federal agencies.
This afternoon, the House passed legislation to provide full-year funding for several critical
departments, including Transportation-Housing and Urban Development (THUD). The move restores
stability for housing and community development programs that had faced uncertainty during the
lapse in appropriations.
Debate over the package centered largely on fiscal year (FY) 2026 funding for the Department of
Homeland Security (DHS). Many Democratic lawmakers raised concerns about advancing long-term
DHS funding in the aftermath of the tragic killing in Minneapolis just 11 days ago. As a result,
Congress opted to pass only a short-term, two-week continuing resolution for DHS, allowing
additional time for negotiations on additional provisions in the bill.
All other appropriations measures included in the package, including THUD, provide funding for the
remainder of FY 2026 (through September 30, 2026).
The Senate approved the same package passed by the House last week. The legislation now heads to
the President’s desk for his signature, which will formally end the shutdown and fully restore federal
operations.
The bill provides $77.3 billion for HUD in FY 2026, an increase over FY 2025, which was funded
through a year-long continuing resolution. The bill increases funding for the Housing Choice Voucher
program, Project-Based Rental Assistance (PBRA), Family Self-Sufficiency (FSS) program and
Homeless Assistance Grants, while maintaining level funding for HOME, CDBG, ROSS, and the Public
Housing Capital Fund. It reduces funding for the Public Housing Operating Fund and the Choice
Neighborhoods Initiative.
This article provides NAHRO’s in-depth analysis of the appropriations bill and its impact on programs
and issues relevant to NAHRO members. Click the links below to jump to each section:
Public Housing
Section 8
Community Development

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Public Housing
Unlike previous years, this year’s appropriations process began with a President’s budget that
combined many programs into a single block grant to be administered by states. For this reason,
funding levels and policy provisions included in this bill are usually not directly comparable to the
President’s budget. Additionally, FY 2025 was funded via a continuing resolution, so many
comparisons to FY 2025 funding were set in the FY 2024 funding bill and carried forward to 2025.
Public Housing Fund
Like the FY 2024 Appropriations Act, the 2026 bill combines all federal grants necessary for PHAs to
operate, maintain, and make capital improvements to public housing into the Public Housing Fund.
This bill allocates $8.319 billion for the Public Housing Fund, which is $492 million less than the
total 2024 enacted budget and 2025 continuing resolution amount.
Public Housing Operating Fund
This THUD bill allocates $4.687 billion for public housing operating fund formula grants, a
$789 million decrease from FY 2025, also $186 less than the Senate bill and $288 million below the
House proposal. Based on the most recent update of HUD’s formula, the Senate
version represented an 86% proration at the time it was calculated, so this final number means a
proration below 86%. However, agencies could ultimately receive a lower proration because HUD’s
initial estimate for FY 2026 Operating Fund exceeded the final appropriated amount. HUD typically
uses a conservative proration at the start of the fiscal year until a full-year budget is enacted. In this
case, however, the final appropriation for the Operating Fund came in below both the House and
Senate proposals. As a result, HUD has effectively overpaid agencies earlier in the year, and
prorations may be reduced going forward to reconcile that difference.
This bill allows any agency with at least one public housing development with a “low” physical
inspection score to use public housing operating to prevent financial shortfall.
Operating Fund Shortfall Funding: FY 2026 enacted provides $377 million for agencies experiencing
or at risk of shortfall. The Senate bill proposed $214 million and the House bill $25 million for PHAs
that experience, or are at risk of, financial shortfalls as determined by HUD. After all shortfall needs
are met, HUD may distribute any remaining funds to all PHAs via the Operating Fund formula.
HUD reported more than $700 million in unmet shortfall need in 2025, underscoring the growing
pressure on agency operating budgets. NAHRO has consistently supported increasing shortfall
funding to prevent these gaps from compounding over time, but not at the expense of the broader
Operating Fund.
The FY 2026 bill increases shortfall funding by reducing overall Operating Fund allocations, a tradeoff
that NAHRO has raised concerns about with appropriators. Under this approach, agencies

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experiencing shortfalls would receive additional support, while agencies not in shortfall would
effectively be required to rely more heavily on their limited Operating Fund reserves.
Public Housing Capital Fund: Formula Grants
Like the Senate bill proposal and recent appropriations acts, FY 2026 enacted provides $3.20 billion
for the Capital Fund formula grants. This is level FY 2022 – 2025 enacted, but less than the projected
accrual of needs across the inventory per year. This amount was estimated to be $4 billion
annually in 2024. According to a new report, The 10-Year Roadmap <
https://www.10yearroadmap.org/> , on whose Steering Committee NAHRO served, the total
Capital Fund backlog is estimated at $169 billion.
The bill includes the provision that HUD issue Capital Fund formula grants to PHAs no later than 60
days after passage of an Appropriations Act.
Public Housing Capital Fund: Competitive Grants
Competitive Housing Health Hazards Grants: FY 2026 enacted would provide $50 million in
competitive grants to PHAs to evaluate and reduce housing-related hazards including fire
safety carbon monoxide, radon, and mold in public housing. This amount is $15 million less than FY
2025 enacted as well as the Senate’s proposal. The House did not provide any funding for this
account. Like previous years, the bill also stipulates that $25 million of the total $50 million be used
for addressing lead-based paint.
Emergency Capital Needs: FY 2026 enacted would set aside $30 million for grants to public housing
agencies for emergency capital needs resulting from unforeseen or unpreventable emergencies and
natural disasters excluding presidentially-declared emergencies and natural disasters under the
Robert T. Stafford Disaster Relief and Emergency Act. This amount matches the House and Senate
proposals. This bill also proposes $10 million of the $30 million to be made available for safety and
security measures. In total, this amount is level with FY 2025.
This bill would also provide $15 million for the cost of administrative and judicial receiverships. This
is level with FY 2025 funding, the Senate bill, and the House bill.
In summary, this bill provides identical emergency and receivership grant amounts to FY
2025 enacted but $15 million less for emergency capital needs.
Physical Inspections
This bill maintains a separate account outside of the Public Housing Fund for inspections. The
Assisted Housing and Risk Assessments account will provide $50 million for “the
Department’s inspection and assessment programs, including travel, training, and program support

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contracts.” This comes as HUD continues transitioning to the National Standards for the Physical
Inspection of Real Estate across its programs.
Choice Neighborhoods Initiative
The Choice Neighborhoods program continues to see diminished funding as the FY 2026 enacted
budget only includes $25 million for the program. A minimum of $12.5 million are for PHAs, and a
maximum of $10 million are for planning grants. This comes after the President’s budget and
House bill proposed eliminating the Choice Neighborhoods Initiative altogether and the Senate bill
proposed $40 million. Agencies will be required to create external partnerships as well as to provide
a match for federal funding. This program helps agencies carry out important renovation and
construction projects, and NAHRO will continue advocating for increased funding.
Self Sufficiency Programs
Family Self-Sufficiency (FSS): This bill provides $156 million for the FSS program, $15 million more
than FY 2025, $31 million more than the House bill, and level with the Senate bill. This bill prohibits
HUD from making funding decisions for FSS based on performance metrics.
Jobs-Plus Initiative: FY 2026 enacted would provide $10 million to the Jobs Plus Initiative, $5 million
less than FY 2025 enacted and the House bill but level with the Senate’s proposal. This direct funding
is not limited to providing “incentives” to participants, meaning that it can also be used to support
the service component of the program. The bill includes the provision that Jobs-Plus specific
program waivers or program requirements will not be factored into competitive grant amounts
received by the agency, but the PHA must be able to bear the cost of these waivers.
Resident Opportunities and Self-Sufficiency (ROSS): The bill proposes $40 million for the ROSS
program. This amount is $5 million higher than the House bill, $5 million below the Senate
proposal, and level with FY2025 enacted. Like previous years, the bill allows agencies or owners who
have converted public housing to project-based rental assistance or other Section 8 programs under
the Rental Assistance Demonstration to continue or resume operating the ROSS program.
Annual Contributions Contract (ACC)
The FY 2026 bill stipulates that HUD “shall comply with all process requirements” before altering an
ACC. Previously, HUD has tried to make changes to the ACC, shifting it from a contract to a grant
agreement. NAHRO will continue to stress to HUD that the ACC is a contract between HUD and a
PHA.

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Rulemaking
The Secretary must conduct rulemaking in compliance with regulations, which require public
participation and 60 days for written comments.
Central Office Costs
The bill prohibits asset management requirements that prohibit use of central office costs included
in the U.S. Housing Act
Exemption from Asset Management
The bill includes the provision that exempts PHAs that own and operate 400 or fewer public housing
units from asset management requirements.
Correction of Allocation Errors
The bill includes the authority to correct formula errors for any HUD formula program on a
prospective basis by offsetting amounts from any previously overpaid grantee award in the current
fiscal year and distributing them to grantees that received less formula funding than they would
have as a result of the error in the prior fiscal year.
PHA Employee Compensation
The bill includes language that would prohibit PHAs from using any Tenant-Based Voucher,
Operating Fund, or Capital Fund dollars to pay any amount of salary above the base rate of pay for
level IV of the Executive Schedule for 2026. This restriction includes salary as well as bonuses or
other incentive pay. This provision affirms a policy which is already in place, since the 2015 omnibus
extended the restrictions to all future appropriations acts.
Back to the top
Section 8
The FY 2026 final appropriations bill makes several notable changes to the program including the
following:
The final appropriations bill folds the Mainstream voucher account into the HAP renewals
account and the administrative fee account.

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The bill adds language allowing PHAs to exceed their ACC unit caps to facilitate transitioning
families moving from EHVs to the regular voucher program, though costs that exceed ACC
caps will not count toward renewal funding.
The bill allows both MTW agencies and MTW expansion agencies to be subject to offsets of
their single-fund authority amounts, though it limits the extent of the offsets in some instances
and allows for an appeal to HUD.
The bill funds the HAP set-aside at $400 million ($200 million higher than the previously
enacted level). The HAP set-aside account is the account from which HUD draws their shortfall
funding.
It also includes additional funding in the tenant-protection voucher account that may be used
to fund Emergency Housing Vouchers.
The bill makes changes to the Section 8 student rule.
Additional details may be found below.
Tenant-Based Rental Assistance (TBRA) – Discretionary Spending
HCV HAP Renewals
The final appropriations bill would allocate $34.957 billion for HAP renewals. This is $2.812 billion
more than the FY 2025 enacted amount and the amount in the House bill and $983 million more
than the amount in the Senate bill. The President’s proposed budget zeros out this account (since
the President’s budget restructures most of these programs and zeros out most of the following
accounts, the voucher section will not mention the President’s budget for each account, unless the
President’s budget keeps an account). This account includes funding for the Mainstream voucher
account. At this time, NAHRO believes that this would result in a 95% proration.
HAP Renewal Formula
The final appropriations bill calls for HAP renewal funding based on validated calendar year (CY)
2025 voucher management system (VMS) or a successor system leasing and cost data adjusted by
an inflation factor set by HUD and by making any adjustments for costs associated with the first-time
renewal of vouchers.
ACC Caps
The final appropriations bill leaves in language limiting HAP renewal funding to fund a total number
of units at or under the Annual Contributions Contract (ACC) unit caps, except for MTW agencies,
which would be governed by their contracts or by the MTW demonstration. The final
appropriations bill adds language allowing PHAs to exceed their ACC unit caps when necessary on a

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temporary basis to facilitate transitioning families assisted by emergency housing vouchers to the
regular program. Any leasing or associated costs for emergency housing vouchers beyond the ACC
cap will not be included in the calculation of the agency’s renewal funding.
Proration Authority
The final appropriations bill states that HUD has the authority to prorate each PHA’s renewal
allocation. Housing agencies in the MTW demonstration program will be funded in accordance with
the MTW demonstration or their MTW agreement, if any, and will be subject to the same pro rata
adjustments.
Notification Provisions
The final appropriations bill retains language stating that HUD must notify PHAs of their annual
budgets by the later of March 1, 2026, or 60 days after enactment, though HUD may extend this
notification period after the Congressional appropriations committees are notified at least 10
business days in advance.
Offset Authority
The final appropriations bill authorizes HUD to offset PHAs’ calendar year (CY) 2026 allocations
based on the excess amounts of PHAs’ net restricted assets accounts, including HUD-held
programmatic reserves (in accordance with VMS or a successor system data in calendar year
2025 that is verifiable and complete). The Department may not offset any portion of a housing
agency’s excess reserves if the offset would result in a housing agency being put in a shortfall
position in CY 2026 as estimated by HUD prior to the offset. The Department must use any offset
amount to prevent the termination of rental assistance for families and avoid or reduce the
proration for renewal funding allocations.
MTW Offset Authority
The final appropriations bill specifies that the housing agencies in the Moving to Work (MTW)
Demonstration shall be subject to a statutory offset, including for funds subject to single fund
budget authority provisions of their MTW agreements. The bill states that MTW agencies with MTW
agreements will be subject to an offset up to limitations imposed in section 239 of the 2016 THUD
appropriations bill (this limits offsets for MTW agencies with agreements to “any reserve balances
equal to 4 months of operating expenses”).
These MTW agencies must be granted not less than 60 days to be able to file an appeal and offset
amounts may not include amounts “committed to capital improvement, development, and other
repositioning activities that are scheduled to close within 12 months of enactment of this [bill]” to
the extent that these committed funds do not fall within the 4 months of operating expenses that
are already prohibited from being offset (see paragraph above). In judging which funds may not be

[PAGE 13]
offset because of prior commitments, HUD may look to “funding applications, project schedules, or
other commitments to third parties implementing . . .” those activities.
EHV Waiver Authority
The final appropriations bill grants HUD the authority to “waive or specify alternative
requirements” for provisions related to PHA plans or HCV requirements related to “the
administration of waiting lists, local preferences, portability, and public housing agency plan and
public hearing requirements” to expedite the transition EHV families to the regular HCV program.
HAP Set-Aside Funds
The final appropriations bill would obligate $400 million for HAP set-aside funding (a $200 million
increase over both the House bill and the FY 2025 enacted level, but the same level as the Senate
bill) to seven categories: (A) PHAs that experience a significant increase in renewal costs of vouchers
resulting from unforeseen circumstances or from portability; (B) vouchers that were not in use
during the previous 12-month period in order to be available to meet project-based voucher
commitments or an adjustment for a funding obligation not yet expended for a MTW-eligible activity
to develop affordable housing; (C) costs experienced with HUD-VASH vouchers; (D) PHAs that would
be required to terminate rental assistance despite taking cost-saving measures; (E) for adjustments
in allocations for PHAs in high-cost areas that are not MTW agencies; (F) for withheld payments in
the previous year that were subsequently made related to the correction of inspection deficiencies;
(G) PHAs that have experienced increased costs or loss of units in Presidentially-declared emergency
areas; and (H) for costs associated with mainstream vouchers. The mainstream voucher category is
merged in this account instead of a separate mainstream account with its own set-aside. The
Department would allocate these funds based on need.
Tenant Protection Vouchers
The final appropriations bill allocates $601 million for new Tenant Protection Vouchers (TPVs). This
amount would be $264 million more than the FY 2025 enacted budget, $226 million more than the
House bill, and $171 million more than the Senate bill. The final appropriations bill allows TPVs to be
used for the following: (1) relocation and replacement of public housing units that are demolished or
disposed; (2) conversions of section 23 projects; (3) witness relocation; (4) enhanced vouchers; (5)
Choice Neighborhoods vouchers; (6) mandatory and voluntary conversion of public housing; and (7)
tenant protection assistance for elderly residents of properties formerly assisted under section 202.
The final appropriations bill states that when a public housing development is submitted for
demolition or disposition, HUD may provide rental assistance when the units pose an imminent
health and safety risk. Additionally, TPVs may also be used to assist families under a project-based
rental assistance contract, where the owner has received a notice of default and the units pose an
imminent health and safety risk to residents. The final appropriations bill also includes a $5 million
set-aside for residents residing in low-vacancy areas who may have to pay rents greater than 30% of

[PAGE 14]
household income for certain reasons like the maturity of certain loans or the expiration of certain
contracts or affordability restrictions. Vouchers issued under previous rationale may be enhanced
vouchers or regular vouchers.
The final appropriations bill states that these TPVs sunset unless HUD specifies otherwise by notice.
HUD may only provide replacement vouchers for units that were occupied within the previous 24
months that are no longer available as assisted housing.
Additionally, the final appropriations bill states that amounts allocated under the tenant protection
voucher heading “. . . may be available to provide calendar year 2026 assistance to [PHAs] that would
otherwise be required to terminate emergency housing vouchers . . . for families as a result of
insufficient funding.”
Administrative Fees
The final appropriations bill allocates $2.836 billion for administrative fees ($2.806 billion for ongoing
administrative fees and $30 million for additional administrative fees). This is $65 million more than
the FY 2025 enacted budget, $861 million than the House bill, and $70 million less than the Senate
bill. At this time, NAHRO believes that this would result in a proration of 82%.
The final appropriations bill continues to instruct HUD to use the current administrative fee formula.
It also gives HUD the ability to prorate the administrative fee and utilize unobligated balances to
increase the proration, except for unobligated special purpose voucher funding. MTW agencies shall
be funded according to the terms of their contracts or the requirements of the MTW demonstration,
though they will also be subject to any administrative fee proration. The administrative fee may only
be used for “activities related to the provision of tenant-based rental assistance including related
development activities.”
The additional administrative fees, which would be available to PHAs that need additional funding to
administer their HCV program, include fees associated with tenant protection rental assistance,
disaster-related vouchers, HUD-VASH, and other special purpose incremental vouchers.
Mainstream Vouchers
Like the Senate bill, the final appropriations bill has combined this account with the HAP renewals
and administrative fee accounts.
HUD-VASH
The final appropriations bill allocates $15 million in funding for new HUD-VASH vouchers. This is the
same as the FY 2025 enacted amount, the Senate bill, and $15 million more than the House bill. Up
to $10 million of HUD-VASH funding may be used for additional fees for activities to facilitate leasing
like security deposits or landlord retention described by notice.

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This funding will be available to PHAs that partner with Veterans Affairs (VA) medical centers or
other VA-designated entities based on geographic need, PHA administrative performance, and other
factors. The Department of Housing and Urban Development (in consultation with the
VA) may specify alternative requirements for any provision of any statute or regulation in connection
with this program (except requirements related to fair housing, non-discrimination, labor standards,
and the environment) on a finding by HUD that these waivers or alternative requirements are
necessary. On turnover, this assistance will continue to remain for homeless veterans.
Family Unification Program (FUP) and Foster Youth to Independence (FYI)
The final appropriations bill includes $30 million in funding for new FUP/FYI vouchers. Of this $5
million is for new FUP vouchers, while $25 million is for FYI assistance. The FY 2025 enacted
level is the same as this final appropriations bill. The Senate bill and the House bill both provided the
same amount of funding for this account, while the President’s proposed budget provided $30
million for foster youth in grants that states could flexibly structure.
The $25 million for new FYI vouchers will be available to PHAs that partner with child welfare
agencies on a noncompetitive basis. The assistance must be requested and entities must meet other
criteria specified by HUD. The Department will review utilization and unutilized funding will be
recaptured and reallocated.
For FUP vouchers, PHAs that no longer have a need for this funding must notify HUD which will
recapture the assistance from the PHA reallocate it based on need.
HCV Dashboard
The final appropriations bill, like the Senate bill, includes language to track special purpose vouchers
and to provide timely updates on “budget, utilization, spending and leasing trends for all vouchers
by purpose” to the publicly available HCV Dashboard. This section also notes that Mainstream
vouchers should be provided to non-elderly people with disabilities on turnover.
Other Housing Choice Voucher Policy Provisions
New Student Rule
This bill would make a large change in the student rule that previously has been in appropriations
bills. The bill removes a provision that stated that for the purposes of determining Section 8
eligibility, prior appropriations bills count as income any assistance from private sources or
institutions of higher education in excess of amounts received for tuition and any other required
fees, except for persons over the age of 23 with dependent children.
This bill retains the provision that states restrictions on students receiving Section 8 funding.

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Mainstream and FUP/FYI Waiver authority
The final appropriations bill continues to give HUD the authority to waive or issue alternative
requirements upon a finding that it is necessary for new or renewal Mainstream or FUP/FYI
vouchers. The waivers or alternative requirements must relate to provisions related to the
administration of waiting lists, local preferences, and the initial term and extensions of tenant-based
vouchers and the timing of referral of youth leaving foster care. The waiver authority does not
extend to tenant rights and protections, rent setting, fair housing, non-discrimination, labor
standards and the environment.
HUD Must Follow the Law in Rulemaking
The bill includes a provision that requires that HUD follow its own regulations with respect to
rulemaking and to follow a prior executive order laying out certain rulemaking requirements.
Additionally, this requirement also states that HUD must provide at least 60 days for the submission
of written comments in rulemaking.
Jobs-Plus Waiver Costs
Costs of rent incentives as part of the Jobs-Plus initiative shall not be charged against the competitive
grant amounts. Forgone rent increases will be factored into a PHA’s eligibility for public housing
funding, RAD-converted project-based rental assistance funding, or HCV funding.
Project-Based Rental Assistance Housing Assistance (PBRA)
This bill would provide $18.543 billion for Project-Based Rental Assistance (PBRA) Housing Assistance
Payments. This amount includes $18.143 billion made available on October 1, 2025, and an
additional $400 million previously appropriated. This amount is $2 billion more than FY 2025
enacted.
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Community Development
Community Development Fund
The final bill would provide $6.995 billion for the Community Development Fund (CDF). This is
more than the House and Senate bills by over $2 billion and approximately $3.565 billion more than
FY 2025 enacted. The President’s proposal sought to eliminate all programs within CDF.

[PAGE 17]
Community Development Block Grant (CDBG)
The CDBG program would receive $3.3 billion, which is $200 million more than the Senate bill
and level with the House bill and FY 2025 enacted.
Economic Development Initiative (EDI)
The final bill, like the House and Senate bill, would restore funding for the Economic Development
Initiative (EDI), also known as earmarks, which was not included in FY 2025 enacted. The bill would
provide approximately $3.615 billion in the account, which is approximately $2 billion more than the
House and Senate bills. This program provides earmarks for “Community Project Funding,” which
may include administrative, planning, operations, maintenance, and other costs.
Recovery Housing Program (RHP)
The RHP program authorized under the Support for Patients and Communities Act (SUPPORT) would
be funded at $30 million in the final bill, which is level with the Senate bill, House bill, and FY 2025
enacted. This includes activities related to substance use-disorder prevention related to opioid
recovery and treatment.
Pathways to Removing Obstacles to Housing (PRO Housing)
The final bill would provide $50 million for identifying and removing barriers to affordable housing
production and preservation, which is the purpose of the PRO Housing program. This is
$50 million less than FY 2025 enacted and $10 million less than the Senate bill, however it
is higher than the House bill and President’s proposal, which both sought to cut the program
entirely.
HOME Investment Partnerships Program (HOME)
The final bill would provide $1.250 billion for the program, level with FY 2025 enacted and the Senate
bill. The President’s budget and House bill proposed to eliminate the program. The program is
crucial towards expanding housing supply and completing affordable
housing projects nationwide. NAHRO testified < https://www.nahro.org/advocacy/advocacy-
and-congressional-resources/nahro-letters-statements-and-testimony/> to the Subcommittee
for Housing and Insurance of the House Financial Services Committee on the importance of
the HOME program on July 16, 2025.
The final bill includes the provision that suspends the program’s statutory 24-month commitment
requirement for HOME funds that expired or are set to expire in calendar year 2020 through 2028.

[PAGE 18]
Preservation and Reinvestment Initiative for Community Enhancement (PRICE)
The final bill would eliminate funding for the PRICE program, which received $10 million for FY 2025
enacted. This is in line with the House bill and President’s budget. PRICE focuses on preserving and
revitalizing manufactured housing and eligible manufactured housing communities.
Self-Help and Assisted Homeownership Opportunity Program (SHOP)
The final bill would provide $65 million to the SHOP account, which is $5 million more than FY 2025
enacted. This is slightly lower than the Senate bill, however $9 million more than the House
bill and $49 million more than the President’s budget, which only requested funding for Section 4
Capacity Building.
Self Help Homeownership Opportunity Program
This program would receive $12 million as authorized under Section 11.
Section 4 Capacity Building
The Senate bill would provide $46 million for Capacity Building for Community Development and
Affordable Housing (Section 4, which funds technical assistance activities through organizations like
Enterprise, Habitat for Humanity and the Local Initiatives Support Corporation).
Rural Capacity Building
The Senate bill would provide $7 million for rural capacity building. This includes activities such as
assessing national rural conditions and providing financing, training, technical assistance,
information, and research to local nonprofit organizations, local governments, and Native Tribes
serving high-need rural communities.
Homeless Assistance Grants
The final bill would provide $4.417 billion to fund HUD’s Homeless Assistance Grants program. This is
$259 million more than the House bill and $366 million more than FY 2025 enacted. The President’s
budget proposed $4.024 billion to fund Homeless Assistance through Emergency Solutions Grants
and to eliminate the Continuum of Care program.

[PAGE 19]
Continuum of Care (CoC) and Rural Housing Stability Assistance programs
The final bill would provide $4.010 billion to be reserved for the CoC and rural housing stability
assistance programs. This is a small decrease from the Senate bill, however $152 million more than
the House bill and $518 million more than FY 2025 enacted. Of the total, $52 million is dedicated for
grants for new rapid re-housing projects and supportive service projects to provide coordinated
entry, and eligible activities to assist survivors of domestic violence, dating violence, sexual assault,
or stalking. This dedication of funds is not included in the House bill or President’s budget.
The bill includes several provisions — which would allow HUD to award one-year transition grants to
program grantees that are transitioning from one CoC program component to another; allow CoC
grant recipients to count program income towards meeting their match requirement; requires HUD
to prioritize funding to CoCs that have demonstrated a capacity to reallocate funding from lower
performing projects to higher performing projects; requires HUD to make reasonable adjustments
to renewal amounts to enable renewal projects to operate at substantially the same levels, including
cost-of-living adjustments for supportive services from the prior grant; requires HUD to select
projects totaling not less than 60 percent of the annual renewal demand for each collaborative
applicant based on rankings determined by the local CoC; and requires HUD to issue the notice of
funding opportunity for the CoC funds made available in this bill no later than June 1,
2026 with amounts to be awarded no later than December 1, 2026.
Emergency Solutions Grants (ESG)
The final bill would provide $290 million for the ESG program, level with FY 2025 enacted, the
Senate bill, and the House bill.
National Homeless Demonstration Project
The final bill, like the House and Senate bills, would provide $10 million for the National Homeless
Demonstration Project, which would be made available to improve data collection efforts for the
Homeless Management Information System (HMIS). This is level with FY 2025 enacted and was not
included in the President’s budget.
Rural Youth Homelessness
The final bill would provide $107 million to implement projects that serve homeless youth, age 24
and under, in up to 25 communities with a priority for communities with substantial rural
populations in up to eight locations. Up to $25 million may be used for youth homelessness system
improvement grants and up to $10 million for technical assistance.

[PAGE 20]
One-time Awards for New Permanent Supportive Housing
While the Senate bill would have provided $100 million for one-time awards under the CoC program
for new permanent supportive housing projects, this funding was not included in the final bill.
Housing Opportunities for Persons with AIDS (HOPWA)
The final bill provides $529 million for the HOPWA program; this is same as the Senate’s proposal
and an increase of $24 million compared to the House bill and FY 2025 enacted. The President’s
budget proposed eliminating HOPWA.
Section 202 Housing for the Elderly
The final bill would provide $1.031 billion for the program. This includes up to $122 million for
service coordinators and Congregate Housing Services grants. This is an increase from the House
and Senate bills and $99.6 million more than FY 2025 enacted. This program was not included in the
President’s budget, which would instead provide funding for this program through a state rental
assistance block grant that combines all rental assistance programs.
Section 811 Housing for Persons with Disabilities
The final bill would provide $287 million for the Section 811 program. This would be a $22 million
increase from the Senate bill, $25.2 million increase from the House bill, and
a $30.3 million increase compared to FY 2025 enacted. This program was not included in the
President’s budget, which would instead provide funding for this program through a state rental
assistance block grant that combines all rental assistance programs.
National Housing Trust Fund (HTF)
It is estimated that $295 million will be allocated for the Housing Trust Fund according
to assessments provided by Fannie Mae and Freddie Mac. This is higher than the FY
2025 allocation of $216.4 million.
Section 108 Community Development Loan Guarantee Program
The final bill would provide $300 million for the Section 108 Loan Guarantee program account, which
is level with the House bill and a $100 million decrease from the Senate bill and FY 2025
enacted. The President’s budget proposed eliminating the program which provides Federal

[PAGE 21]
guarantees for private loans for communities and provides grantees of the CDBG program the ability
to leverage their annual grant allocation with a loan to undertake large community and economic
development projects.
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Related News
HUD Releases 2026 Operating Cost Adjustment Factors < https://www.nahro.org/news/hud-
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[PAGE 27]
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[PAGE 28]
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[PAGE 29]
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(cid:28)(cid:20)(cid:3)(cid:29)(cid:81)(cid:82)(cid:76)(cid:87)(cid:86)(cid:72)(cid:88)(cid:84)(cid:3)(cid:71)(cid:72)(cid:85)(cid:72)(cid:90)(cid:86)(cid:81)(cid:36)
(cid:22)(cid:21)(cid:3)(cid:29)(cid:81)(cid:82)(cid:76)(cid:87)(cid:86)(cid:72)(cid:88)(cid:84)(cid:3)(cid:71)(cid:72)(cid:85)(cid:72)(cid:90)(cid:86)(cid:81)(cid:36)
(cid:81)(cid:82)(cid:3)(cid:85)(cid:72)(cid:87)(cid:81)(cid:72)(cid:70)(cid:3)(cid:86)(cid:81)(cid:82)(cid:76)(cid:87)(cid:86)(cid:72)(cid:74)(cid:74)(cid:88)(cid:86)(cid:3)(cid:81)(cid:76)(cid:68)(cid:80)(cid:3)(cid:181)(cid:86)(cid:87)(cid:81)(cid:72)(cid:71)(cid:76)(cid:86)(cid:72)(cid:53)
(cid:72)(cid:89)(cid:76)(cid:86)(cid:81)(cid:82)(cid:83)(cid:86)(cid:72)(cid:85)(cid:3)(cid:72)(cid:85)(cid:82)(cid:80)(cid:3)(cid:72)(cid:85)(cid:68)(cid:3)(cid:86)(cid:72)(cid:76)(cid:87)(cid:76)(cid:85)(cid:82)(cid:76)(cid:85)(cid:83)(cid:3)(cid:83)(cid:82)(cid:87)(cid:3)(cid:181)(cid:86)(cid:87)(cid:81)(cid:72)(cid:71)(cid:76)(cid:86)(cid:72)(cid:53)
(cid:92)(cid:79)(cid:72)(cid:80)(cid:76)(cid:87)(cid:3)(cid:15)(cid:81)(cid:82)(cid:76)(cid:87)(cid:68)(cid:70)(cid:76)(cid:81)(cid:88)(cid:80)(cid:80)(cid:82)(cid:70)(cid:3)(cid:71)(cid:72)(cid:89)(cid:82)(cid:85)(cid:83)(cid:80)(cid:76)
(cid:71)(cid:72)(cid:89)(cid:82)(cid:85)(cid:83)(cid:80)(cid:76)(cid:3)(cid:15)(cid:72)(cid:70)(cid:81)(cid:68)(cid:81)(cid:72)(cid:87)(cid:81)(cid:76)(cid:68)(cid:80)(cid:3)(cid:72)(cid:79)(cid:69)(cid:68)(cid:76)(cid:79)(cid:72)(cid:85)(cid:3)(cid:71)(cid:81)(cid:68)
(cid:74)(cid:81)(cid:76)(cid:85)(cid:68)(cid:70)(cid:3)(cid:71)(cid:81)(cid:68)(cid:3)(cid:15)(cid:74)(cid:81)(cid:76)(cid:73)(cid:73)(cid:68)(cid:87)(cid:86)(cid:3)(cid:87)(cid:81)(cid:72)(cid:76)(cid:70)(cid:76)(cid:73)(cid:73)(cid:88)(cid:86)(cid:3)(cid:15)(cid:72)(cid:70)(cid:81)(cid:68)(cid:81)(cid:72)(cid:87)(cid:81)(cid:76)(cid:68)(cid:80)
(cid:92)(cid:87)(cid:76)(cid:81)(cid:88)(cid:80)(cid:80)(cid:82)(cid:70)(cid:3)(cid:85)(cid:72)(cid:87)(cid:87)(cid:72)(cid:69)(cid:3)(cid:15)(cid:92)(cid:87)(cid:72)(cid:73)(cid:68)(cid:86)(cid:3)(cid:71)(cid:81)(cid:68)(cid:3)(cid:86)(cid:86)(cid:72)(cid:81)(cid:76)(cid:79)(cid:81)(cid:68)(cid:72)(cid:79)(cid:70)
(cid:15)(cid:73)(cid:73)(cid:68)(cid:87)(cid:86)(cid:3)(cid:75)(cid:87)(cid:76)(cid:90)(cid:3)(cid:71)(cid:72)(cid:76)(cid:73)(cid:86)(cid:76)(cid:87)(cid:68)(cid:86)(cid:3)(cid:72)(cid:85)(cid:68)(cid:3)(cid:92)(cid:81)(cid:68)(cid:80)(cid:3)(cid:72)(cid:79)(cid:76)(cid:75)(cid:58)(cid:3)(cid:17)(cid:86)(cid:81)(cid:82)(cid:76)(cid:87)(cid:70)(cid:68)(cid:85)(cid:72)(cid:87)(cid:81)(cid:76)
(cid:71)(cid:81)(cid:68)(cid:3)(cid:81)(cid:82)(cid:76)(cid:87)(cid:68)(cid:70)(cid:76)(cid:81)(cid:88)(cid:80)(cid:80)(cid:82)(cid:70)(cid:3)(cid:87)(cid:81)(cid:72)(cid:87)(cid:86)(cid:76)(cid:86)(cid:81)(cid:82)(cid:70)(cid:3)(cid:71)(cid:81)(cid:68)(cid:3)(cid:15)(cid:86)(cid:72)(cid:76)(cid:87)(cid:76)(cid:81)(cid:72)(cid:80)(cid:68)
(cid:92)(cid:72)(cid:78)(cid:3)(cid:72)(cid:85)(cid:68)(cid:3)(cid:86)(cid:86)(cid:72)(cid:81)(cid:72)(cid:89)(cid:76)(cid:86)(cid:81)(cid:82)(cid:83)(cid:86)(cid:72)(cid:85)(cid:3)(cid:71)(cid:81)(cid:68)(cid:3)(cid:83)(cid:88)(cid:16)(cid:90)(cid:82)(cid:79)(cid:79)(cid:82)(cid:73)(cid:3)(cid:87)(cid:81)(cid:72)(cid:87)(cid:86)(cid:76)(cid:86)(cid:81)(cid:82)(cid:70)
(cid:17)(cid:73)(cid:73)(cid:68)(cid:87)(cid:86)(cid:3)(cid:80)(cid:82)(cid:85)(cid:73)(cid:3)(cid:92)(cid:87)(cid:76)(cid:79)(cid:76)(cid:69)(cid:68)(cid:87)(cid:81)(cid:88)(cid:82)(cid:70)(cid:70)(cid:68)
(cid:17)(cid:87)(cid:81)(cid:72)(cid:80)(cid:72)(cid:70)(cid:81)(cid:68)(cid:75)(cid:81)(cid:72)(cid:3)(cid:85)(cid:82)(cid:73)(cid:3)(cid:86)(cid:68)(cid:72)(cid:85)(cid:68)

[PAGE 30]
Agency Performance Report
Fourth Quarter, 2025
What HUD measures
PHAS SCORES
HUD assesses the health of a PHA's Public Housing program through an indicator
called the Public Housing Assessment System, or PHAS.
Why it matters
MOST RECENT TARGET ON TRACK
RESULT IN 2024 FOR 2025 FOR 2025?
The Housing Authority's PHAS score communicates
how well the agency is performing, impacts the
amount of HUD funding it receives for the fiscal
year, and determines the frequency of HUD public
housing inspections.
High Performer: 90% High Performer: 90%
What County Housing measures
Objective 3: Help our residents and families
Objective 1: Deliver services safely,
gain self-sufficiency through partnerships
effectively, and efficiently.
with other organizations in the community.
Results Q1 Q2 Q3 Q4 Results Q1 Q2 Q3 Q4
Attain zero findings in Communicate programming
finance/single audits opportunities
Enhance partnerships with
local organizations
Engage in community
Objective 2: Foster a customer-centered initiatives that promote housing
stability and affordability
culture.
Results Q1 Q2 Q3 Q4
Increase customer satisfaction
Dedicate staff to customer
outreach and resident
engagement
Implement quarterly feedback
loops for residents

[PAGE 31]
MEMORANDUM
To: Olivette Housing Authority Board of Commissioners
Through: Shannon Koenig, Executive Director and CEO
From: Benjamin C. Washington, CFO
Date: February 24, 2026
Subject: Financial Summary
This memo provides a narrative explanation for the period ending December 31, 2025 financial
reports.
I. Recommendation
Staff recommend the Board approve the financial statements and accompanying narrative, as
prepared.
II. Highlights
A. Revenue
The total YTD actual operating revenue of $187,136 exceeded the total YTD budget revenue of
$157,693 by $29,443 or 19%.
• Favorable budget variances in the Operating Subsidy and Capital Grants were attributable
to timing differences in the drawdowns.
• Tenant Charges had an unfavorable budget variance of $3,015. One (1) unit in the fourteen
(14) unit total portfolio had $0 rent. Nine (9) other units had rents of less than $400 per
month.
B. Expenses
Total YTD actual operating expenses of $180,889 exceeded the total YTD budget expenses of
$150,632 by $30,258 or 20%.
• Total YTD Occupancy expense resulted in an unfavorable budget variance of $24,499
primarily due to timing differences in materials and contracted costs unit repairs.
• Total YTD Other General expenses resulted in a $10,988 unfavorable budget variance in
Insurance, offset by favorable budget variances of $8,300 in professional fees and outside
services due to timing differences.

[PAGE 32]
February 24, 2026
Page 2
C. Net Income
The total operating net income was $6,246 before depreciation of $1,082, resulting in the
bottom-line net income of $5,165.
D. Cash
As of December 31, 2025, the adjusted cash balance in the operating bank account was
$282,918. Of this amount, $279,568 was unrestricted and $3,350 was restricted. There was
$4,364 of operating subsidy received. Tenant rental income for the month was $6,363 and
operating expenses payments were $37,055.
III. Attachments
A. Budgeted Income Statement
B. Cash Report
C. Tenant Rent

[PAGE 33]
Olivette Housing Authority
Budgeted Income Statement
As of December 31, 2025
Olivette HA
YTD Actual YTD Budget Variance % Variance Monthly Actual Monthly Budget Variance % Variance
OPERATING ITEMS
Total Operating Subsidy 51,405 4 6,740 4 ,665 4,364 3,895 469
Total Capital Grants 63,476 3 5,728 27,748 - 2,977 ( 2,977)
Total Tenant Charges 71,985 7 5,000 (3,015) 5,050 6,250 ( 1,200)
Total Investment Income 269 225 44 2 3 1 9 4
Total Income 1 87,136 1 57,693 29,443 19% 9,437 13,141 ( 3,705) -28%
Total Rents and Utility Reimbursements 703 2,000 (1,297) 105 167 ( 62)
Total Salaries 43,177 4 9,000 (5,823) 2,128 4,083 ( 1,955)
Total Benefits and Taxes 14,937 7,456 7 ,481 716 621 94
Total Training, Seminars, Conferences 1 0 750 (740) - 6 3 ( 63)
Total Admin 58,827 59,206 (380) -1% 2,949 4,934 ( 1,985) -40%
Total Utilities 10,987 1 0,635 3 52 915 886 28
Total Materials 19,029 3,300 15,729 721 275 446
Total Contract Costs 26,943 1 8,835 8 ,108 12,495 1,570 1 0,925
Total Tenant Services Expense 1,223 470 7 53 - 3 9 ( 39)
Total Other Maintenance Expenses 1,516 1,700 (185) 6 1 142 ( 80)
Total Outside Services 2 0 - 20 - - -
Total Other Occupancy Expenses 7,520 7,799 (279) 896 650 246
Total Occupancy Expense 67,237 42,739 24,499 57% 15,088 3,562 1 1,526 324%
Total Insurance 31,938 2 0,950 10,988 17,690 1,746 1 5,944
Total Outside Services 2,923 5,000 (2,077) 101 417 (315)
Total Professional Fees 1,777 8,000 (6,223) - 667 (667)
Total Other Fees 9,810 8,487 1 ,323 768 707 60
Total Telephone and Technology 3,088 1,725 1 ,363 453 144 309
Total Other Administrative Expenses 2,077 1,585 4 92 114 132 ( 18)
Total Internal Charges 3,213 2,940 2 73 378 245 133
Total Other General 54,825 48,686 6 ,139 13% 19,504 4,057 1 5,447 381%
Total Expenses 1 80,889 1 50,632 30,258 20% 37,540 12,553 2 4,988 199%
Total Net Operating Income 6,246 7,061 (815) (28,104) 588 (28,692)
NON-OPERATING ITEMS
Total Depreciation Expense ( 1,082) ( 975) (107) (90) (81) (9)
Total Non- Operating Items (1,082) ( 975) (107) (90) (81) (9)
Net Income (Loss) 5,165 6,086 (922) (28,194) 507 (28,701)

[PAGE 34]
Olivette Housing Authority
Cash Report
December 2025
BEGINNING BANK CASH BALANCE 12/1/2025 $ 3 08,240
ADD:
Tenant Rent $ 6,363
Security Deposits $ 0
FSS Deposits $ 0
Capital Fund $ 0
Operating Subsidy $ 4,364
Interest $ 23
Transfer $ 0
Other Revenue $ 0
TOTAL DEPOSITS $ 10,750
LESS:
Other Transfers $ (3,917)
Manual Checks $ 0
Checks $ (13,946)
NSF/ Service Fees $ 0
Withdraws/Other Deductions $ (19,192)
Operating Subsidy Out $ 0
TOTAL PAYMENTS $ ( 37,055)
ENDING BANK BALANCE 12/31/2025 $ 2 81,935
Ending Bank Balance 12/31/2025 $ 2 81,935
Outstanding Checks $ (42)
Deposits in Transit $ 1,050
Other Items $ (25)
Adjusted Book Balance 12/31/2025 $ 2 82,918
Unrestricted Cash $ 2 79,568
Security Deposit Cash $ 3,350
$ 2 82,918

[PAGE 35]
Public Housing Rent Roll
Olivette Housing Authority
As Of Date: 12/31/2025
Property Unit Tenant Tenant
Code Code Code Rent
RH9363 t0000310 $ 1 ,015
RH9356 t0012183 $ 7 26
RH9380 t0000248 $ 5 54
RH9379 t0010032 $ 4 61
RH9342 t0012791 $ 3 57
RH9345 t0000325 $ 3 41
RH9330 t0000694 $ 3 28
RH9371 t0010954 $ 3 28
RH9372 t0000313 $ 3 23
RH9388 b0000247 $ 3 17
RH9348 t0000316 $ 3 09
RH9357 t0000307 $ 1 18
RH9387 t0010951 $ 7 4
RH9364 t0000323 $ -
$ 5,251

[PAGE 36]
MEMORANDUM
To: Olivette Housing Authority Board of Commissioners
Through: Shannon Koenig, Executive Director and CEO
From: Kawanna Tate, Director, Housing Administration
Date: February 24, 2026
Subject: Public Housing Performance
This memo describes recent public housing activities within the framework of the Public
Housing Assessment System.
I. PASS - projected 35/40 points
The purpose of PASS is to determine whether public housing units are decent, safe, sanitary
and in good repair, and to determine the level to which the PHA is maintaining its public
housing in accordance with housing condition standards.
A. Maintenance Activity
The maintenance team completed 19 work orders from October 1, 2025 through
January 31, 2026, and one vacant unit is in the process of being rehabbed.
II. MASS - projected 20/25 points
The purpose of the management operations indicator is to assess the PHA’s management
operations capabilities.
Sub-Indicator Performance Points
Occupancy 100% 16/16
Accounts Payable Ratio .02 4/4
Tenant Accounts Receivable .397 0/5
Projected Points 20

[PAGE 37]
February 24, 2026
Page 2
III. FASS - projected 25/25 points
The purpose of the financial condition indicator is to measure the financial condition of
each public housing project. The reporting period is through December 31, 2025.
Projected
Housing Authority QR MENAR DSCR Points
Olivette 12/12 11/11 2/2 25
IV. CFP - 10/10 projected points
The purpose of the Capital Fund program assessment is to identify how long it takes a PHA
to obligate the funds provided to it from the Capital Fund program.
A. Capital Grant Fund Progress
Grant Year Amount Obligated Expended Deadline to expend
2020 $28,617 100% 15% 3/25/2026
2021 $27,885 100% 100% 2/22/2025
2022 $34,237 100% 81% 5/11/2026
2023 $34,506 100% 10% 2/16/2027
2024 $35,728 100% 10% 5/05/2028
B. Project Updates
In 2026, planned projects include replacing electrical service panels, entry doors, and
lateral line backflow prevention valves.
V. Projected Overall PHAS Score for 2024
PASS – 35/40 points
MASS – 20/25 points
FASS – 25/25 points
CFP – 10/10 points
Total 90
Projected: High Performer

[PAGE 38]
MEMORANDUM
To: Olivette Housing Authority Board of Commissioners
Through: Shannon Koenig, Executive Director and CEO
From: Kurt Schulte, Real Estate Development Officer
Date: February 24, 2026
Subject: Real Estate Development Report
This memo provides an overview of current efforts to reposition the Olivette Housing Authority’s
units on Rothwell Heights Lane
I. Recommendation
No Board action is required.
II. Discussion
A. 4% Federal Only Tax Credit Application
i. The June Federal Only 4% Application was unsuccessful as MHDC required
a conditional commitment for the County Disaster Relief Funds included in
the capital stack.
ii. County Housing met with MHDC staff to discuss the project and received
positive feedback.
B. Competitive Round LIHTC Application
County Housing submitted another 4% LIHTC application on September 17th. This
application replaced the Disaster Relief Funds that were contemplated in the June
application with 4% state LIHTC. Unfortunately, this application was also
unsuccessful due to resources being utilized in tornado affected areas.
C. Future Plans
County Housing is in the process of restructuring the project to better fit available
resources and plans to submit again this year.

[PAGE 39]
MEMORANDUM
To: Olivette Housing Authority Board of Commissioners
Through: Shannon Koenig, Executive Director and CEO
From: Terri Acoff-States, Executive Assistant
Date: February 24, 2026
Subject: Annual Meeting
Per the Olivette Housing Authority Board of Commissioners bylaws, the board is required to
hold an annual meeting for the purpose of electing officers, including the positions of Chair and
Vice-Chair. Below are the relevant sections of the Olivette Housing Authority bylaws.
I. ARTICLE II – OFFICERS
A. Section 2. Chair. The Chair presides at all meetings of the Board. Except as
otherwise authorized by resolution of the Board, the Executive Director signs all
contracts, deeds, and other instruments made by the Authority. At each meeting of
the Board, the Executive Director may submit such recommendations and
information as they may consider proper about the business, affairs, finances, and
policies of the Authority.
B. Section 3. Vice Chair. The Vice Chair will perform the duties of the Chair in the
absence or incapacity of the Chair. In case of the resignation or death of the Chair,
the Vice Chair will perform the duties of the Chair until such time as the Board
selects a new Chair.
C. Section 5. Election or Appointment. The Chair and Vice Chair will be elected at the
annual meeting of the Board from among the Commissioners and will hold office for
one year or until their successors are elected and qualified.
II. ARTICLE III – MEETING
A. Section 1. Annual Meeting. The annual meeting of the Board will be held
concurrently with the regular meeting for the month of December. If no regular
meeting is held that month, the annual meeting shall be held concurrently with the
next succeeding regular meeting.
III. Attachment
Confidential Voting Ballot

[PAGE 40]
February 24, 2026
Page 2
Confidential Voting Ballot
Housing Authority of the City of Olivette Board of Commissioners Annual Meeting
February 24, 2026
Instructions: Mark only one choice per position. To maintain anonymity, do not add identifying
marks on this ballot. Please fold your ballot and place it in the ballot box when finished.
Election of Chair
Please select one candidate for the position of Chair by marking an “X” next to the candidate's
name.
• ☐ Candidate 1: Stephanie Afful
• ☐ Candidate 2: Suzann Antoine
• ☐ Candidate 3: Nikeyia Ingram
• ☐ Candidate 4: Kisha Lee
• ☐ Candidate 5: Ellen Schapiro
Election of Vice-Chair
Please select one candidate for the position of Vice-Chair by marking an “X” next to the candidate's
name.
• ☐ Candidate 1: Stephanie Afful
• ☐ Candidate 2: Suzann Antoine
• ☐ Candidate 3: Nikeyia Ingram
• ☐ Candidate 4: Kisha Lee
• ☐ Candidate 5: Ellen Schapiro