Section 32. Upon the completion or acquisition of a housing project by a housing authority, it shall be maintained and operated by such authority. It is hereby declared to be the policy of this commonwealth that each housing authority shall manage and operate decent, safe and sanitary dwelling accommodations at the lowest possible cost, and that no housing authority shall manage and operate any such project for profit. To this end, an authority shall fix the rents for dwelling units in its projects in accordance with regulations issued by the department, so that no tenant shall be required to pay a rental of more than 32 percent of his income if heat, cooking fuel and electricity are provided by the authority, 30 percent of his income if one or more utility is provided, or 27 percent of his income if such utilities are not provided; provided however, that in calculating the amount of such rental, an authority may round the amount of such rental payment to the nearest whole dollar. In no instance shall a tenant household pay a rental fee of less than $5 per household, provided that exceptions to payment of such minimum rent shall be allowed in accordance with regulations issued by the department. An authority shall grant an exemption from application of the minimum monthly rent to any resident unable to pay such amount because of severe financial hardship, which shall include situations in which the family is awaiting an eligibility determination for an application for any federal, state, or local assistance program, the tenant would be evicted as a result of the imposition of the minimum rent requirements, the income of the tenant has decreased because of changed circumstances, including involuntary loss of employment, the occurrence of a death in the household, and