Project-Based Rental Assistance

Program Description
The Section 8 Program was authorized by Congress in 1974 and developed by HUD to provide rental subsidies for eligible tenant families (including single persons) residing in newly constructed, rehabilitated and existing rental and cooperative apartment projects.
The rents of some of the residential units are subsidized by HUD under the Section 8 New Construction ("New Construction"), Substantial Rehabilitation ("Substantial Rehabilitation") and/or Loan Management Set-Aside ("LMSA") Programs. All such assistance is "project-based", i.e.; the subsidy is committed by HUD for the assisted units of a particular Mortgaged Property for a contractually determined period.

Process for Making Awards
HUD will use the $2.0 billion provided in the legislation to fund contract renewals under the Section 8 program. In line with Congressional directives, the department will use the money provided to fund contract renewals on a full twelve-month cycle. This will avoid the payment disruptions that have occurred in recent years and enable owners to maintain their properties in an acceptable condition.

Eligible Applicants
There are 6,300 contracts that will be funded.
Funding Amounts
Total Funding: $2,000,000,000
Total Funds Allocated: $2,000,000,000
Total Funds Obligated: $0
Total Funds Expended: $0


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