Section 8 Project-Based Rental Assistance
SP Investment Fund and its affiliates have invested in scores of limited partnerships that have developed and own thousands of units of affordable housing located all over the United States. In connection with its investment activities, SP has gained substantial knowledge and experience with various government affordable housing programs, including the Section 8 Project-Based Rental Assistance program.
Section 8 Project-Based Rental Assistance is a U.S. government program designed to provide privately owned and managed rental homes to low-income families at an affordable price. Under Section 8, tenants only need to pay only 30 percent of their income to the owner of the housing development while the federal government covers the remaining amount.
Project-based rental assistance is only available to households whose income is not more than 80 percent of the local median income. Household members of this low-income group should apply to multiple individual properties being rented out under the program. The waiting list of applicants is often long and it may take several months or longer before an applicant gets an apartment.
