Project-Based Voucher Program
What is the Section 8 Project-Based Voucher Program?
The Section 8 Housing Choice Voucher program is a rent subsidy program in which low-income tenants pay 30 percent of their income and the state or local housing agency pays the difference, based on the fair market rent (FMR) as determined by HUD. The voucher program gives housing agencies the ability to "project-base" up to 20% of their funding by contracting directly with private owners — often nonprofit agencies — so that the voucher gets tied to a specific apartment, enabling the owner to obtain public and private capital investments based on the future income stream. Over the last five years, housing agencies across the country have used this provision effectively to spur production of new affordable housing in communities where there is an inadequate supply to meet the needs of voucher holders. In particular, innovative agencies have used project-based vouchers to create permanent supportive housing targeted families with special needs such as disabled families, homeless families, Veterans, etc.
Section 8 Project-Based Voucher Administrative Plan – Final Rule
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