MONETTE, AR (KAIT) - The Consolidated Appropriations Act of 2014, signed into law in January, will require all Housing Authority's to raise their Fair Market Rents to 80 percent of the current FMR for their county.
Not all 80 percent will kick in immediately but people living in these homes will experience a 35 percent increase in rent beginning June 1st.
Some tenants living in these homes are elderly, disabled or are low income individuals. JoeAnn and Dennis Moyer retired and moved in to the Monette Housing Authority a year ago. They thought they had their finances figured out until the new law changed everything.
"This fit in our budget so we he could go ahead and retire," said JoeAnn. "That's what we did and then we're here a year and find out everything is going up, and that's not going to line up with everything we set aside."
The Moyer's now have to go back to work to help make ends meet.
"The only problem with that is with social security you're only allowed to make a certain amount," said JoeAnn. "I'm not eligible for three more years so that puts us on one income for three years."
The Moyer's said their entire complex is feeling the anxiety of what they'll do when they can no longer afford to live there.
"There is one couple that it's going to affect right off and they're scared," said JoeAnn. "They have already talked to their son about actually having to move in with him."
Monette Housing Authority Director, Barbra Suber said she's been working to get Congressmen and
State Representatives on board to help repeal the new law.