TITLE
WITHDRAWN
Recommendation to adopt resolution of the Housing Authority of the City of Long Beach, California, approving a revised voucher Payment Standard Schedule for the Section 8 Housing Choice Voucher Program, effective February 15, 2017, for all zip code areas in Long Beach. (Citywide)
DISCUSSION
The Housing Authority of the City of Long Beach (Housing Authority) requests your consideration and approval to raise the Payment Standards for housing units located in all Long Beach zip codes for all bedroom sizes. This action is needed to relieve the rent burden to tenants due to rising rental costs and low vacancy rates.
In April 2016, the Housing Authority Commission (Commission) approved a request to raise the Housing Authority Payment Standard to 120 percent of the HUD Small Area Fair Market Rent (SAFMR) Schedule. New HUD SAFMR’s were made effective October 1, 2016 for Fiscal Year 2017, and Housing Authority rates are currently at 110 percent. This small increase in HUD SAFMR for Long Beach remains insufficient to support market rate rents. Although there has been a small increase in HUD SAFMR for Long Beach, families are still having great difficulty in finding affordable units and finding owners who are willing to accept the voucher as subsidy. Therefore, the Commission is asking to adjust the current payment standard to reflect 120 percent of the current HUD SAFMR for all zip code areas. Approval of this increase will adjust the Long Beach Payment Standards so that existing families can remain housed, new families may lease up, and owners are compensated closer to the current market rate.
Fair Market Rents (FMRs) are published by HUD for each metropolitan statistical area and change annually. The FMR is the maximum monthly subsidy provided for an assisted family. The Payment Standard for each Housing Authority is based on 90-110 percent of the published FMR for the Housing Authority jurisdiction. In September 2012, the Housing Authority wa...
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