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Section 8 housing

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Section 8 housing

Low- and moderate-income housing subsidized by the federal Department of Housing and Urban Development.There are two primary methods of subsidy:(1) Tenant-based subsidies consist of rental vouchers and rental certificates that are portable—the tenant can use them for any approved rental housing offered by landlords willing to participate in the programs. The program certificates may also be used to assist with mortgage payments under current rules. (2) Project-based subsidies consist of housing complexes that offer reduced rental rates to qualifying applicants, usually as a condition of the developer receiving tax credits, low-interest-rate loans,and high loan-to-value ratios for mortgage lending.



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if they have a Section 8 housing voucher or other subsidy.
In addition to the HFA financing, the project will receive an annual allocation of $856,518 in federal low-income housing tax credits; a $212,000 grant from the New York State Energy Research and Development Authority (NYSERDA); federal Section 8 Housing Assistance Payment contracts for all the tenants; and a real estate tax exemption or abatement from New York City.
Ayers and co-defendant Lael Williams fraudulently obtained about $28,000 in federal Section 8 housing benefits for residences in Worcester and Ware between December 1999 and January 2005.
 
 
 
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