Public Housing Agencies (PHAs) are permitted to convert a portion of their tenant-based Section 8 Housing Choice Vouchers into Project Based Vouchers (PBV). Through the PBV program, the PHA awards a Housing Assistance Payment contract to a project owner to provide long-term, project based rental assistance that is tied to that particular project. The PBV program is governed by federal regulations at 24 CFR 983.
SUBSIDY LAYERING REVIEW (SLR)
Prior to awarding a PBV HAP contract to a project owner, the PHA may be required to complete the HUD-mandated subsidy layering review process (SLR). IHCDA is certified by HUD to approve all SLRs for PBV projects in the state of Indiana. Therefore, a PHA that wishes to enter into a PBV HAP contract with a project owner must work with IHCDA to complete the SLR, if required. SLR is required if the proposed project includes other governmental assistance and involves new construction or rehabilitation.