Laserfiche WebLink
Local resources alone are not sufficient to meet local housing <br /> need. Assistance will be required from the state and federal <br /> governments. Because of the broad national policy to help <br /> provide decent housing in a suitable living environment for <br /> every American the federal government is the prime subsidizer <br /> of lower and moderate income housing. <br /> <br /> Currently Section 8 of the 1968 Federal ttousing Act is the <br /> primary national lower_income housing subsidy program. It is <br /> a diredt cash assistance program with the subsidy paid directly <br /> to the landlord. The two major aspects of Section 8 are "existing" <br /> and "new construction." These programs are administered on the <br /> federal level by the Department of Housing and Urban Development <br /> (tiUD). <br /> <br />Section 8 "existing" allows the tenant to secure housing on the <br />existing private market through the use of a "certificate of <br />participation." Once a landlord is found who will honor the <br />certificate, then an agreement is entered into where usually <br />a local housing authority will pay the difference between 25% <br />of the tenant's gross monthly income and the fair market rent <br />(as determined by federal guidelines) to the landlord. In other <br />words the tenant is obligated only to pay 25% of his/her/their <br />monthly gross income for housing. Generally tile local housing <br />authority is allocated a'certain number of units which it can <br />subsidize through the program. <br /> <br /> -6- <br /> <br /> <br />