COLUMBUS, OH – July 8, 2011 – (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) was recently selected by the U.S. Department of Housing and Urban Development (HUD) to serve as the Project Based Contract Administrator (PBCA) for Section 8 projects in the state of Ohio. As the PBCA, OHFA will manage 977 Housing Assistance Payment (HAP) contracts covering over 70,000 units throughout the state. OHFA will assume its role as PBCA on October 1.
“OHFA is proud to expand our responsibilities as the state’s housing finance agency,” said Doug Garver, Executive Director for the Agency. “As PBCA, the Agency will be able to continue our work with property owners and managers in order to help preserve existing communities for low-income seniors and Ohio families.”
Under a HAP contract, a property receives a rental subsidy from HUD equal to the difference between the HUD-approved rent for a unit and the required contribution from the eligible tenant.
As PBCA, OHFA will be responsible for:
- Conducting management and occupancy reviews of apartment communities covered by a Section 8 contract.
- Adjusting contract rents.
- Making monthly rent payments to Section 8 owners.
- Renewing Housing Assistance Payment Contracts.
- Responding to resident health, safety and maintenance issues.
- Reporting regularly to HUD.
OHFA will contract with Quadel Corporation, a Washington, DC-based national affordable housing service provider to administer portions of the program.
Please contact OHFA at 888-362-6432 or visit the website at www.ohiohome.org for more information.
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About the Ohio Housing Finance Agency
OHFA is a self-supporting quasi-public agency governed by an eleven-member board. The Agency uses federal and state resources to provide housing opportunities for families and individuals through programs designed to develop, preserve and sustain affordable housing throughout the State of Ohio. OHFA is also an active partner in the interagency team which coordinates the Save the Dream Ohio initiative designed to stop preventable foreclosures.
Email: aalston (at) ohiohome (dot) org