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Project-Based Vouchers Overview for LIHTC Programs

Learn about the integration of Project-Based Vouchers (PBV) with LIHTC programs, eligibility criteria, rent determinations, and more. Understand the process, waiting lists, screenings, and contractual obligations. Get insights on vacancy loss, HQS inspections, income eligibility, and payment procedures. Explore the transition to Housing Choice Vouchers (HCV) after one year of residency. Contact specific staff for detailed information.

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Project-Based Vouchers Overview for LIHTC Programs

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  1. Project Based Vouchers June 13, 2008 By Jackie Blankenship Housing Voucher Programs

  2. Voucher Program Parameters • Our PBV program is different from what we’ve done in the past. • 20% of MSHDA HVP vouchers designated as PBV • All regulations that apply to HCV apply to PBV • Developments will be working with MSHDA contracted Agents and MSHDA Resource Specialists

  3. PBV Process for LIHTC • LIHTC/SH staff will notify OHVP that PBV are desired • LIHTC/SH staff will be reviewing LIHTC applications to ensure compliance with site selection criteria, environmental requirements, and SH underwriting requirements.

  4. Process - continued • LIHTC/SH staff will be working closely with OHVP. • LIHTC/SH Staff will work with OHVP for subsidy layering submission to HUD. • Between the time that projects are originally developed and when PBV are assigned, MSHDA priorities and/or HUD regulations may change which could change the project parameters.

  5. Waiting Lists • MSHDA will maintain WL • Owner will select a Lead Agency • Names for WL will be referred by Lead Agency to MSHDA • Important that Lead Agency do extensive marketing to ensure sufficient applicants

  6. Waiting Lists - continued • Separate WL for PBV, HARP, individual PBV developments if more than one in a county, barrier-free units • Tenants must meet SH definitions identified on Addendum III to be on WL • WL are open to anyone – not just lead agency clients bypassing all other potentially eligible persons

  7. Screenings • Criminal Screenings will be conducted by MSHDA Contracted Agent using ICHAT, OTIS, and SOR. • MSHDA does not screen for credit worthiness or tenant rental history

  8. Other Reasons for Denial • Family doesn’t meet eligibility criteria • Family fails to sign consent forms • Family fails to provide proof of citizenship or eligible immigration status • A family member has been evicted from federal assisted housing within past 5 yrs

  9. HAP Contracts • First a AHAP • Then a HAP - 10 Year Contract • Executed after final PBV unit passes HQS inspection. • 5 Year Renewal • Monitoring will be performed by OHVP Resource Specialists.

  10. Rent Determinations • Initial rent determinations will be done via the market study performed at initial application • Eight months out from occupancy, a second market study performed to confirm original findings

  11. Rents • In PBV projects receiving LIHTC • Rents for properties NOT in a qualified census tract (QCT) are the lesser of the reasonable rent, LIHTC rent minus the utility allowance, or owner requested rent • Rents for properties in a QCT cannot exceed the lowest of an amount not exceeding 110% of FMR, reasonable rent, or owner requested rent

  12. Utilities • OHVP Utility schedules will be used not MSHDA Asset Management utility schedules.

  13. Vacancy Loss • Will not be available for the initial lease up period in which the owner must hold a unit open for 60 days to find a special needs tenant. • Will be available due to turnover for 60 days. • Vacancy claims begin the first calendar month after the move-out month

  14. Vacancy Loss - continued • Vacancy loss claim period cannot exceed two full months following the move-out. • Example: May 20th move out • Vacancy claim begins June 1st and ends July 31st unless unit is leased prior to July 31st

  15. HQS Inspections • No payments will be made until all PBV units in the project have been inspected and pass the inspection. Includes several buildings and/or phase in of projects. • All units will be inspected annually. • Initial inspections will be conducted by MSHDA (new construction/significant rehab). • Annual inspections will be conducted by MSHDA Housing Agents

  16. Income Eligibility • Currently our income eligibility is lesser of federal poverty or 30% AMI. • Have submitted our PHA Plan to HUD for approval requesting income eligibility be 85% of new admissions are at or below 30% AMI and remaining 15% are at or below 50% AMI.

  17. Payments • Based on occupancy and passed HQS inspections. • Cover entire month (owner keeps already paid HAP if tenant moves out mid-month.)

  18. 1 Year Residency • After tenant has been on PBV for one year, eligible to move from PBV unit and receive a HCV.

  19. Questions? • Future questions: • About PBV, contact Jackie Blankenship or assigned OHVP Resource Specialist for response. • About SH, contact John Hundt or your appropriate SH staff member. • About LIHTC, contact your appropriate LIHTC contact.

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