Latest news with #Section8
Miami Herald
3 days ago
- Business
- Miami Herald
New Section 8 rent vouchers frozen in Miami-Dade because of funding shortfall
Hundreds of people waiting for rent vouchers in Miami-Dade will have to wait even longer as county administrators face a federal order to stop considering most new applications for the Section 8 program. While the federal government provides funding for Section 8, local agencies administer the program and hand out the vouchers. Federal managers of the subsidy program ordered the county in February to freeze issuing Section 8 vouchers after identifying a $77 million shortfall in the allocation for Miami-Dade. The local waitlist of nearly 5,000 people has been frozen since then. It's the first freeze of its kind in about eight years in Miami-Dade. 'Right now because of the shortfall, nobody is coming off of the waitlist,' said Clarence Brown, the division director overseeing Section 8 programs in the county's Housing and Community Development Department. County administrators this week said that rising rents and funding decisions by the U.S. Department of Housing and Urban Development (HUD) caused the shortfall in a county-administered program that's expected to receive about $330 million this year for roughly 20,000 vouchers in Miami-Dade. They say Miami-Dade is caught up in a nationwide gap between the available Section 8 funding and the growing costs of housing for low-income residents. In a Feb. 26 letter to Miami-Dade, a HUD official said the county's Section 8 program was expected to fall short of its anticipated federal allocation this year and would need a cost-saving plan to get back into compliance and lift the voucher freeze that's now in its fourth month. While the letter came during the early weeks of the Trump administration, housing advocacy groups in 2024 were warning of widespread shortfall issues under President Joe Biden as rents shot ahead of federal housing allocations. Last summer, the Biden administration said about 400 housing agencies across the country were forecast to experience shortfalls in 2024. In Miami-Dade, the freeze doesn't impact the thousands of people currently relying on existing Section 8 vouchers to subsidize rent. But Miami-Dade is no longer permitted to issue new vouchers, a freeze impacting about 75 households a month based on average attrition rates that would otherwise cause availability in the program, said Nathan Kogon, the county's director of Housing and Community Development. He said Miami-Dade will eventually be able to issue the vouchers that were frozen as participants leave the program and make room for new ones. While the county won't lose its number of vouchers after the freeze is lifted, Miami-Dade is currently limited to funding only ones attached to existing tenants. 'The dollars to fund the program are like gas in a car,' Kogon said. 'We have a certain amount of cars. We just don't have the gas to fuel them.' The freeze also does not affect Section 8 vouchers tied to low-income housing projects, where the subsidies are attached to individual apartments or houses and not the tenants themselves. The HUD action only covers Miami-Dade's Section 8 vouchers that are granted to tenants — dollars paid directly to private-sector landlords. Kogon said the county has already made adjustments and austerity measures that have narrowed the $77 million gap to about $45 million now. Representatives from HUD were not available for comment Wednesday afternoon. Kogon said Miami-Dade would have been able to close the shortfall gap more significantly this year if HUD had granted an inflation adjustment in 2025. Instead, he said, the federal agency concluded that rents had flattened enough in the Miami area to keep voucher costs flat for the year. After a spike during the COVID pandemic, rents have been softening across the Miami area, according to real estate groups. But county administrators said they're still seeing rising rents on the lower end of the housing ladder, putting pressure on voucher amounts. 'We don't know what data they were looking at in Miami-Dade County where they could say rents didn't go up by anything,' said Brown, the division director who reports to Kogon. 'Rents may not be going up as quickly as they were, but they aren't going down.' While Miami-Dade's county government oversees the Section 8 program locally, a private firm manages most of the operations and forecasting under a contract that's up for a one-year renewal vote on Thursday. Mayor Daniella Levine Cava is asking county commissioners for a $38 million extension for one year for California-based Nan McKay and Associates to manage Section 8 vouchers while her administration prepares to launch a bidding process for a long-term contract she said in a memo will have better monitoring and performance measures.
Associated Press
4 days ago
- Business
- Associated Press
Section 8 Housing Landlord Requirements in 2025: A Complete Guide for U.S. Property Owners
06/25/2025, Monument, Colorado // KISS PR Brand Story PressWire // In 2025, federal housing assistance programs such as Section 8 are undergoing significant changes that will affect both landlords and tenants. As new regulations and budget adjustments roll out, property owners participating in the Housing Choice Voucher Program must stay informed about how these changes may impact their rental operations and responsibilities. Among the proposals under review is the potential of cutting the HUD budget almost in half, which could limit voucher availability, delay payment processing, and increase reliance on state-managed housing initiatives. Landlords are advised to review program updates closely to adapt effectively and continue offering stable, affordable housing. What Is Section 8 Housing? Section 8, officially known as the Housing Choice Voucher Program, provides rental assistance to low-income families, older adults, and individuals with disabilities. Instead of living in public housing, qualified tenants can choose their own housing in the private market, and the government pays a portion of their rent directly to landlords. This differs from Section 42 housing, which ties affordability to specific units through tax credits rather than tenant-based assistance. With Section 8, tenants can move freely, and landlords retain control over screening and lease enforcement. Key Section 8 Landlord Requirements in 2025 To rent to Section 8 tenants, landlords must comply with several federal and local guidelines: 1. Pass a Health and Safety Inspection Each rental unit must meet HUD's Housing Quality Standards (HQS). Inspectors from the local Public Housing Authority (PHA) evaluate the property before a tenant moves in, checking for safety, functionality, and habitability. Common inspection areas include: 2. Charge a Reasonable Rent The rent you charge must be in line with similar units in the local market. The PHA conducts a comparison to ensure your rent is fair and that government funds are not being misused. 3. Sign a Housing Assistance Payments (HAP) Contract After passing inspection, landlords sign a HAP contract with the PHA to receive direct payments. You'll also sign a standard lease with the tenant outlining their obligations. 4. Participate in Ongoing Inspections Most PHAs conduct annual inspections or respond to tenant complaints. It's your responsibility to maintain the property year-round so it continues to meet HUD standards. 5. Conduct Tenant Screening While PHAs determine tenant eligibility for housing vouchers, tenant background screening is entirely the landlord's responsibility. Screening protects your property and ensures that tenants are a good fit. How to Effectively Screen Section 8 Tenants Landlords often ask how to effectively screen Section 8 tenants without violating fair housing laws. Here's how to do it right: By following these steps, you can effectively screen Section 8 tenants while complying with housing regulations and protecting your rental investment. Budget Reductions and Their Impact Recent federal proposals aimed at cutting the HUD budget almost in half would significantly alter how housing assistance is administered. If implemented, these changes could reduce the number of available vouchers, slow approval processes, and shift funding decisions to state and local governments. Proposed changes also include: Implications for Landlords and Tenants For Landlords: For Tenants: Best Practices for Navigating the Section 8 Program To stay ahead in 2025 and beyond, landlords should: Conclusion As housing assistance programs shift and budgets fluctuate, landlords must remain adaptable. While changes such as cutting the HUD budget almost in half present challenges, they also reinforce the need for smart property management, consistent tenant screening, and strong working relationships with PHAs. With proper preparation and a commitment to fair housing, landlords can continue to succeed in the Section 8 program—offering valuable support to families while protecting their own business interests. Source published by Submit Press Release >> Section 8 Housing Landlord Requirements in 2025: A Complete Guide for U.S. Property Owners
Economic Times
4 days ago
- Business
- Economic Times
Sebi proposes ED roles to bolster governance at market infrastructure firms
Public comments on the three proposals have been invited until July 15. Sebi indicated that amendments to SECC and D&P regulations, 2018, will be considered following stakeholder feedback. Sebi proposes governance overhaul for market infrastructure institutions, mandating the appointment of two executive directors to oversee critical operations and regulatory compliance. This move aims to bolster operational oversight and ensure MIIs prioritize public interest and systemic stability. The regulator also suggests strengthening the roles of other key managerial personnel and limiting external directorships for MDs and EDs. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi, Sebi on Tuesday proposed an overhaul of the governance framework of market infrastructure institutions including stock exchanges by mandating the appointment of two executive directors (EDs) to bolster operational a consultation paper, Sebi said the move is aimed at ensuring MIIs (market infrastructure institutions) -- which have witnessed sharp growth in investor base, revenue, and market activity -- place public interest, compliance, and systemic stability above commercial two EDs, to be designated as KMPs (key managerial personnels), would head "critical operations" and "regulatory, compliance, risk management, and investor grievances", respectively, and be inducted into the MII's governing board alongside the Managing Director (MD), Sebi the MD holds overarching authority across all verticals, but Sebi noted that functions related to technology, risk management and investor protection need empowered leadership to prevent governance EDs are expected to match the MD in stature and will report to the board and Sebi on issues in their respective verticals, it regulator also recommended strengthening the roles of other KMPs, including Chief Technology Officer, Chief Information Security Officer, Chief Risk Officer, and Compliance Officer to ensure robust internal Sebi has proposed limiting the external directorships of MDs and EDs. The MD may serve as a non-executive director only on the board of a Section 8 company or an unlisted government entity not engaged in commercial the executive directors will be barred from directorships in any company except MII subsidiaries, as per the consultation regulator said these measures were necessary in light of the growing criticality and complexity of MIIs, as evidenced by rising demat accounts, increased trading volumes, and swelling also highlighted sharp increase in technology expenditure and dividend payouts, indicating both operational dependence on tech and significant commercial comments on the three proposals have been invited until July 15. Sebi indicated that amendments to SECC and D&P regulations, 2018, will be considered following stakeholder feedback.
Time of India
4 days ago
- Business
- Time of India
Sebi proposes ED roles to bolster governance at market infrastructure firms
New Delhi, Sebi on Tuesday proposed an overhaul of the governance framework of market infrastructure institutions including stock exchanges by mandating the appointment of two executive directors (EDs) to bolster operational oversight. In a consultation paper, Sebi said the move is aimed at ensuring MIIs (market infrastructure institutions) -- which have witnessed sharp growth in investor base, revenue, and market activity -- place public interest, compliance, and systemic stability above commercial considerations. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Hashimoto-Leber: Der Erzfeind namens Thyroxin Mission Schilddruese Mehr erfahren The two EDs, to be designated as KMPs (key managerial personnels), would head "critical operations" and "regulatory, compliance, risk management, and investor grievances", respectively, and be inducted into the MII's governing board alongside the Managing Director (MD), Sebi said. Currently, the MD holds overarching authority across all verticals, but Sebi noted that functions related to technology, risk management and investor protection need empowered leadership to prevent governance failures. The EDs are expected to match the MD in stature and will report to the board and Sebi on issues in their respective verticals, it added. Live Events The regulator also recommended strengthening the roles of other KMPs, including Chief Technology Officer, Chief Information Security Officer, Chief Risk Officer, and Compliance Officer to ensure robust internal systems. Additionally, Sebi has proposed limiting the external directorships of MDs and EDs. The MD may serve as a non-executive director only on the board of a Section 8 company or an unlisted government entity not engaged in commercial activity. However, the executive directors will be barred from directorships in any company except MII subsidiaries, as per the consultation paper. The regulator said these measures were necessary in light of the growing criticality and complexity of MIIs, as evidenced by rising demat accounts, increased trading volumes, and swelling profits. Sebi also highlighted sharp increase in technology expenditure and dividend payouts, indicating both operational dependence on tech and significant commercial success. Public comments on the three proposals have been invited until July 15. Sebi indicated that amendments to SECC and D&P regulations, 2018, will be considered following stakeholder feedback.
Yahoo
5 days ago
- Business
- Yahoo
Green Bay Housing Authority likes Monroe Plaza revamp plan but has management concerns
Monroe Plaza at 400 N. Monroe Ave. ― a downtown apartment complex that gives elderly and disabled residents a place to call home through federal Section 8 housing vouchers amidst a national housing crisis ― could be a California-based affordable housing developer's first Wisconsin project. SDG Housing Partners secured an initial commitment of up to $27.5 million in government bonds through the Green Bay Housing Authority after the authority liked its first look at renovation plans on June 19. The developer, once given the bond revenue, will be wholly responsible for paying the debt back, according to the initial resolution. The authority had anticipated the presentation by Michael Arman, SDG's director of development, and attorney Lynda Templen would answer questions about the developer's vision for the 1970s-era building ― which it did ― but some members were also left with nagging concerns about property management for the vulnerable population of residents. Since its founding in 2016, SDG has bought and rehabbed 45 other affordable housing projects across the country, according to the housing authority's June 19 agenda. SDG would bring its "passion to recreate communities to the highest standards" to Green Bay as it did in another Section 8 housing project in La Puente, California, located in Los Angeles County, said Arman to the housing authority. And in much the same way as in La Puente, the developer was coming before the Green Bay Housing Authority asking for tax-exempt revenue bonds to, "try to make [Monroe Plaza] look like a modern, market-rate property," Arman said. Arman described a plan with freshly installed windows, an energy-efficient roof, a paint job and new light fixtures. There will be a gazebo, resident gardens, "colorful" landscaping, a dog park, resident-tended gardens, a grilling area and an ADA-compliant sidewalk. In the interior common areas, there will be a renovated community kitchen, tables for bingo, billiards and cards, a library, a TV space, and computer stations ― all ADA-accessible. Laundry and management offices would be renovated, and each floor adorned with art. Security cameras would be upgraded and key fob access at the entrance would add to the security measures. "Just because it's affordable housing, there's no need to look like affordable housing," Arman said, appearing to refer to the connotations over decades of public housing units being associated with squalor and having sparse design ― though, their stripped back construction had been considered an architectural model when they were first built and appropriately functional, not frilly, for its working-class residents. Oshkosh-based ACC Management Group would manage the newly renovated Monroe Plaza, and the process of hiring six on-site staff members was already underway, Arman said. There would be two office personnel, a service coordinator, two maintenance personnel and a janitor at Monroe Plaza Mondays through Fridays, according to Arman. Residents would remain on-site in what the developer called "hotel units": several furnished, unoccupied apartments inside the complex that residents would move to until their own apartment rehabilitation was finished. The developer would have to submit documentation to the Department of Housing and Urban Development as it was the federal department's property, Arman said, adding that "there will be no permanent relocation, just temporary relocation." The developer had not yet walked through to inspect the conditions of the apartments, but, "there will be some unit work. That scope will be determined a little bit later,' Arman said. To do so, the developer, "will have to go around to every single unit to understand what we're dealing with." Asked by housing authority members how it knew it would need $27.5 million in bond money if the condition of the apartments was unknown and there were no plans presented to rehab the apartments, Arman said the developer generally knew the scope of work and that the money would also go toward rehabbing apartment units. Templen added the $27.5 million was an "aggressive, not-to-exceed" estimate for the project, and that a more defined scope of work, renderings and project details would be hashed out before the housing authority adopts a second, final resolution. "And so we will be working through those details, and undoubtably when we come back with the final resolution, it will be some other amount," Templen said. "It won't be $27.5 [million]. Of course, we want to maximize it, to the extent that we can." This first resolution was the "first step" to getting further financing for the project, Templen said. The developer will be able with the resolution to go to a bank willing to lend to SDG, Templen added. For-profit affordable housing developers must also go to the Wisconsin Housing and Economic Development Authority for what's called a "volume cap," according to Green Bay Housing Authority executive director Cheryl Renier-Wigg. The cap is a federal limit to how many tax-exempt bonds a state can issue to prevent misuse. Templen said the developer expects to hear back from WHEDA the size of the volume cap by the end of June. Depending on when the volume cap and the bank commitment were known, the developer could be in a position to close on buying the property by mid-September, Templen said. And with all documents in hand, Templen said the developer will come back for a final resolution with final bond figures from the housing authority, as well as an authorization from the city itself. Remodeling would begin by summer 2026, according to Arman, by which time the developer hopes to have secured additional tax credits to finance the project. Once Arman and Templen had left with the initial resolution approved, several members of the housing authority expressed concerns with ACC Management Group being the property manager, citing anecdotal experiences of how it treated disabled residents and a lack of communication. However, there had been plenty of issues at the complex over the years from security, to bedbugs, to management, according to Renier-Wigg and former City Council member Randy Scannell; the new choice of management, it was agreed, could be brought up at a later time. Jesse Lin is a reporter covering the community of Green Bay and its surroundings, as well as politics in northeastern Wisconsin. Contact him at 920-834-4250 or jlin@ This article originally appeared on Green Bay Press-Gazette: Green Bay Housing Authority gives first OK for Monroe Plaza renovation
