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The main Section 8 program involves the voucher program. A voucher may be either "project-based"—where its use is limited to a specific apartment complex (public housing agencies (PHAs) may reserve up to 20% of its vouchers as such [11])—or "tenant-based", where the tenant is free to choose a unit in the private sector, is not limited to specific complexes, and may reside anywhere in the ...
RAD authorizes the conversion of assistance under several of these programs to project-based section 8 assistance, which may take either of two forms: Project-based rental assistance (PBRA) authorized under section 8 of the U.S. Housing Act of 1937 [9] ("the Act"); or; Project-based voucher (PBV) assistance authorized under section 8(o)(13) of ...
The Housing and Community Development Act of 1974 (12 U.S.C. 1706e) is a United States federal law that, among other provisions, amended the Housing Act of 1937 to create Section 8 housing, [1] authorizes "Entitlement Communities Grants" to be awarded by the United States Department of Housing and Urban Development, and created the National Institute of Building Sciences. [2]
The supplements make up the difference between rental "market price" and the amount of rent paid by tenants, for example 30% of the tenants income. A notable example of a rent supplement in the United States is Section 8 of the Housing Act of 1937 (42 U.S.C. § 1437f).
Permanent, federally funded housing came into being in the United States as a part of Franklin Roosevelt's New Deal. Title II, Section 202 of the National Industrial Recovery Act, passed June 16, 1933, directed the Public Works Administration (PWA) to develop a program for the "construction, reconstruction, alteration, or repair under public regulation or control of low-cost housing and slum ...
Other attempts to solve these problems include the 1974 [40] Section 8 Housing Program, which encourages the private sector to construct affordable homes, and subsidized public housing. This assistance can be "project-based", subsidizing properties, or "tenant-based", which provides tenants with a voucher, accepted by some landlords.
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The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
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