NYC HPD, NYS HCR, NYS Housing Authority
Project-Based Section 8, or Project-Based Vouchers (PBV), are HUD-funded rental assistance that is made available to affordable housing developers by local housing authorities or agencies.
Tenant Eligibility Criteria
Low-income households earning 80% or less of the area median income (AMI), with 40% of new admissions required to be extremely low-income, defined as at or below 30% of AMI.
For-profit and nonprofit developers are eligible to receive Project-Based Housing Assistance.
Project-based Housing Assistance is based on the local Fair Market Rent (FMR) levels that are determined annually by HUD. Tenants typically pay 30% of their adjusted income and HUD pays the landlord the difference between that and the FMR.
Typically 20 years, with the option of pre-paying the mortgage and opting out sooner.
While there is normally no new funding for Project Based Section 8 appropriated by Congress on an annual basis, public housing authorities have the authority to "project-base" up to 20% of their tenant based Section 8 portfolio.
For More Information
See HPD's most recent Project-based Voucher RFP here. Submission deadline: July 27, 2020
See HCR's Summer 2020 RFP here. Submission deadline: September 1, 2020
See HUD's website.
Contact your local public housing authority or NYS Housing and Community Renewal.
Last updated: 07/28/2020