RFP2022PBV-01 - RFP 2022 Project Based Assistance for Existing Housing Units

The HABC may enter into an initial Housing Assistance Payments (HAP) Contract for a maximum of fifteen (15) years contingent upon annual appropriations. The initial term may be extended at HABC’s option to up to the maximum term allowed by regulation. The HABC will pay the difference between the tenant rent (roughly 30% of gross income) and the approved rent for the unit directly to the owner on a monthly basis. The Section 8 project-based contract rent may not exceed rents charged for comparable units in the private unassisted market and shall be consistent with HUD regulations found at 24 CFR 983, Subpart G - Rent to Owner, and shall be approved by the HABC.