15 Feb Summary Review of Agenda Items for MDHA’s Feb. 19, 2019 Board Meeting
RENTAL ASSISTANCE (HARBISON & DEEP)
- Approval of Revision to Payment Standards for the Section 8 Housing Choice Voucher Program.
At the October 2018 meeting, the MDHA Board approved the amendment of the HCV Payment Standards for all bedroom sizes to equal 95% of the newly HUD-published Fair Market Rents (FMRs) for 2019 to be effective January 1, 2019. Upon further review and consideration, it is proposed to go ahead and raise the payment standards to 100% of the HUD-published FMRs to further expand the housing opportunities for MDHA participants. Board approval is requested to amend the HCV payment standards to 100% of the HUD-published fair market rents.
- Amendment of Award of Project Based Vouchers to LDG Multifamily LLC.
In May 2017, the MDHA Board approved the award of sixty-six (66) project-based vouchers to LDG Multifamily LLC for Bellshire Reserve, a new construction development of 264 LIHTC units consisting of 132 two bedrooms and 132 three bedrooms. LDG Multifamily LLC was awarded project-based vouchers for 33 two bedroom units and 33 three bedroom units. Since May 2017, the development has been renamed to Buffalo Trail and due to site restrictions, have reduced the total number of units for the development from 264 units to 240 units. As a result, it has been requested to amend the award of project-based vouchers from 66 to 60, with 30 two bedroom units and 30 three bedroom units. Board approval is requested to approve the amendment to the number of approved project-based vouchers as presented.