HUD Revises Rule on PBV Rents

The Department of Housing and Urban Development (HUD) issued a final rule that drops the requirement that public housing agencies limit their Sec. 8 project-based voucher rents to low-income housing tax credit (LIHTC) rents at assisted properties, reports Nixon Peabody, LLP.

The final rule reverses the cap on project-based voucher rents to LIHTC rents at assisted properties. In addition, HUD reiterates that public housing agencies may not enter into assistance contracts until HUD, or an independent entity approved by HUD, has conducted the required subsidy layering review and determined that the assistance is in accordance with HUD requirements.