TITLE
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 immediately, 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 the supply crisis and rising rental costs.
The Housing Authority is asking to adjust the payment standard to reflect 110 percent of the 40th Percentile Rents for Long Beach zip codes, 90802, 90803, 90807, 90808, 90809, 90810, 90814 and 90815, and to apply the success rate of the 50th Percentile Rates in Long Beach zip codes, 90804, 90805, 90806 and 90813. By applying these increases, we can improve the likelihood that subsidized families will be considered for new affordable housing opportunities and existing families can remain housed.
New Small Area Fair Market Rents (SAFMRs) were made effective October 1, 2017, for Fiscal Year 2018 by the Department of Housing and Urban Development (HUD). Unfortunately, the current HUD SAFMRs for Long Beach are not close enough to market rate rents to entice owners to accept voucher-holding individuals and families. By regulation, the Housing Authority can set payment standards between 90 and 110 percent of the HUD published fair market rents based on market analysis and need. Rent requests above 110 percent may be approved by the HUD Public and Indian Housing Field Office Director up to 120 percent. In Fair Market Rent (FMR) areas, where higher payment standards are necessary to increase housing choice, FMRs are based on the 50th percentile rents and are made available by approval from the HUD Field Office Director. On October 25, 2017, the Los Ange...
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