Adjusted Monthly Income
    The Adjusted Month Income is the Adjusted Annual Income divided by 12.
Total Tenant Payment (TTP)
    After calculating the adjusted monthly income, the housing agency determines the Total Tenant
    Payment for the family. The Total Tenant Payment (TTP) for the voucher program is the greater of:
    30% of the family's monthly adjusted income
    10% of the family's gross monthly income (unadjusted)
    This includes the amount of rent the tenant pays toward the rent to the owner and the Utility
    Allowance for the unit. Depending on what rent the owner charges and whether utilities are included
    or not, the TTP may or may not be 30% of the family's adjusted monthly income.
Housing Assistance Payment (HAP)
    The payment to the owner is equal to the lower of either: the Payment Standard minus the TTP, or
    the gross rent minus the TTP. Gross rent includes the Rent to Owner plus any allowance for tenant-
    paid utilities.
    A "Payment Standard" is used to calculate the monthly housing assistance payment for a family. The
    housing agency establishes its own Payment Standards using the Fair Market Rent schedule
    published by HUD. The Payment Standard dictates how much subsidy the Housing Agency can pay
    on a unit. (Please see the last page of this booklet for the current Payment Standards.) You cannot
    pay any difference between the maximum rent you qualify for and the contract rent a landlord may be
    asking for.
Utility Allowance
    The phrase "utility allowance' does not mean actual utility bills. A Utility Allowance is the housing
    agency's estimate of the average monthly utility bills for an energy conscious household. If all
    utilities are included in the rent, there is no utility allowance. Utility allowances have been calculated
    by the Housing Agency for different types and sizes of units using the rates of the utility companies
    providing services in Lonoke County.
Utility Reimbursement Payments (URP)
    Those families whose 40% of adjusted income is less than the utility allowance for the unit they
    have selected, may be eligible for a utility reimbursement payment (URP) each month. This payment
    is the difference between 40% of income and the utility allowance for the unit. Those families
    receiving a utility reimbursement do not pay any rent to the landlord. You will be informed by your
    caseworker if you will be receiving a utility reimbursement.
Rent to Owner
    This is the total rent the owner charges for rent for the unit, including any taxes.