Title
El Dorado County Public Housing Authority recommending Director of said Authority be authorized to sign Agreement V00077-AHAP-02 with Tahoe Senior Housing II, L.P. to receive up to six project-base Section 8 Housing Choice Vouchers for Tahoe Senior Plaza II for up to ten years to provide 33 units of affordable senior housing, upon completion of construction of this affordable senior housing development.
RECOMMENDED ACTION: Approve.
FUNDING: Federal funds.
Body
BUDGET SUMMARY:
Total Estimated Cost $0.00
Funding
Budgeted $
New Funding $
Savings $
Other $
Total Funding Available $
Change To Net County Cost $0.00
Fiscal Impact/Change to Net County Cost: No change. Federal funding for Project-Based Vouchers is provided by the Federal Department of Housing and Urban Development for payments to landlords on behalf of program participants and is included in the annual Department budget for the Housing Choice Voucher Program.
Background:
Reason for Recommendation:
The Department of Human Services, through the Public Housing Authority’s (PHA) Housing Choice Voucher Program, provides eligible participants throughout El Dorado County with rental assistance vouchers to offset their rental housing costs. As one means of encouraging the development of housing affordable to households earning at or below 50% of the median income, the Housing Authority can elect to reserve ”project-based” vouchers for a specific development selected through a Request for Proposal (RFP) process. The total amount of the Project-Based Vouchers (PBV) may not exceed 20% (approximately 75 vouchers) of the Housing Authority’s annual authorized budget allocation. Currently, the PHA has 42 project-based vouchers committed to an existing affordable housing project. A developer selected to receive PBVs in support of their project must execute an Agreement to enter into a Housing Assistance Payment (AHAP) contract...
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