Housing Choice Voucher Program (HCV)
The federally funded Housing Choice Voucher Program (Section 8), is voluntary for both landlords and tenants. It helps eligible families of lower income with their monthly rent payments.
How it works:
A family whose household income is fifty percent or less of the area's medium household income (AMI) is qualified to participate in the program from the Longmont Housing Authority. Through a Housing Assistant Payment (HAP) contract, direct monthly payments are made to the landlord/property owner as a portion of the tenant's monthly rent payment. After allowances are made for utilities not included in the rent, the HAP makes up the difference in total amount due.
If thirty percent of a family's gross monthly income is $600.00 and rent (including utilities) for the selected apartment is $1,600.00 per month, the tenant pays the landlord $600.00 and the remaining $1,000.00 is paid by the Longmont Housing Authority through the Housing Choice Voucher Program.
Project Based Vouchers (PBV)
Project-based vouchers (PBV), in contrast, are attached to a specific unit whose landlord contracts with the Longmont Housing Authority to rent the unit to families and individuals with low incomes.
The Longmont Housing Authority currently administers unit-based housing assistance in the following properties:
Aspen Meadows Neighborhood
Fall River Apartments