The Section 8 Project-Based Voucher (PBV) program is a component of the Section 8 Housing Choice Voucher (HCVP) program that provides long term project-based affordable housing for very low and extremely low households.
How it works:
Unlike the HCVP, PBV subsidies are not mobile. The subsidy is tied to a specific unit for the term of a Housing Assistance Payments (HAP) contract. Public housing agencies can attach up to 20% of their HCVP budget authority to specific housing units for up to ten years, with the option to renew in maximum five year increments during the last year of the PBV contract. The PBV subsidy can be used for newly constructed or rehabilitated units or for units in existing buildings. PBV subsidy is very effective used in tandem with housing development programs (like the LIHTC and HOME programs) because it guarantees the developer a steady stream of revenue that can help pay debts incurred during construction or rehabilitation. PBV subsidy also helps to ensure that affordable housing is available to voucher-eligible households even when housing markets are tight.
Who is eligible:
Very low income or extremely low income households. Some developments give preference in selection to households where one or more members have a special need or meet other additional selection criteria.
For both prospective tenants and prospective developers/owners, all of DHCD's PBV documents, including applications for tenants and Notices of Funding Availability (NOFA) and their respective applications can be found on DHCD's website by clicking Housing Development (in the center of the page) / Rental Assistance Management / Project Based Voucher.
For More Information:
Please call the Division of Public Housing and Rental Assistance at (617) 573-1150.