Today, HUD published a notice (PIH 2016-12) titled “Funding Availability for Tenant-Protection Vouchers for Certain At-Risk Households in Low-Vacancy Areas — Fiscal Year 2016.” The notice makes available the $5 million set-aside for “certain at-risk households in low-vacancy areas for Fiscal Year (FY) 2016” from the $130 million appropriated for Tenant Protection Vouchers (TPVs) in general.
The $5 million in TPV assistance is available for the purpose of assisting “residents residing in low-vacancy areas and who either are or may have to pay rents greater than 30 percent of household income” because of the following:
- The maturity of a HUD-insured, HUD-held or section 202 loan that would have required the permission of the Secretary prior to loan prepayment;
- The expiration of a rental assistance contract for which the tenants are not eligible for enhanced voucher or tenant protection assistance under existing law; or
- The expiration of affordability restrictions accompanying a mortgage or preservation program administered by the Secretary.
The TPV assistance may be provided as either enhanced vouchers or project-based voucher (PBV) assistance.
NAHRO’s next issue of The Monitor (members only) will have additional details on the notice.
The full notice can be read here.