[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR983.5]



[Page 656]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 983_PROJECT-BASED VOUCHER (PBV) PROGRAM--Table of Contents

 

                            Subpart A_General

 

Sec.  983.5  Description of the PBV program.



    (a) How PBV works. (1) The PBV program is administered by a PHA that 

already administers the tenant-based voucher program under an annual 

contributions contract (ACC) with HUD. In the PBV program, the 

assistance is ``attached to the structure.'' (See description of the 

difference between ``project-based'' and ``tenant-based'' rental 

assistance at 24 CFR 982.1(b).)

    (2) The PHA enters into a HAP contract with an owner for units in 

existing housing or in newly constructed or rehabilitated housing.

    (3) In the case of newly constructed or rehabilitated housing, the 

housing is developed under an Agreement between the owner and the PHA. 

In the Agreement, the PHA agrees to execute a HAP contract after the 

owner completes the construction or rehabilitation of the units.

    (4) During the term of the HAP contract, the PHA makes housing 

assistance payments to the owner for units leased and occupied by 

eligible families.

    (b) How PBV is funded. (1) If a PHA decides to operate a PBV 

program, the PHA's PBV program is funded with a portion of appropriated 

funding (budget authority) available under the PHA's voucher ACC. This 

pool of funding is used to pay housing assistance for both tenant-based 

and project-based voucher units and to pay PHA administrative fees for 

administration of tenant-based and project-based voucher assistance.

    (2) There is no special or additional funding for project-based 

vouchers. HUD does not reserve additional units for project-based 

vouchers and does not provide any additional funding for this purpose.

    (c) PHA discretion to operate PBV program. A PHA has discretion 

whether to operate a project-based voucher program. HUD approval is not 

required.