Adler explains Section 8 and TBRA voucher support for residents
Adler explains that some households will receive Section 8 or city TBRA vouchers to ensure no one pays more than 30% of income on housing costs. She expects a significant portion of tenants will need vouchers to remain in their units long-term.
Next slide, please.
Depending on the household income, some households will receive Section 8 housing choice vouchers from the federal government or tenant-based rental assistance program vouchers through the city, depending on the availability of Section 8 when this building enters conversion.
This ensures that no one, whether it's an existing resident or an incoming purchaser, will have to pay more than 30% of their total income on housing costs, and the building stays up to date on maintenance for a sufficient cushion for reserves.
We expect that in this cluster, like most that ANCP deals with, we will have a significant
population of tenants who will be receiving Section 8 or T-BRA vouchers, and that will ensure that they get to remain in the households that they've lived in for decades without having to worry about living paycheck to paycheck.