Affordable Housing

At Trellis, the work we do is rooted in affordable housing. What do we mean when we say affordable though? The truth is that “affordable” can mean a number of things in the property development and management world!

“Affordable” refers to many different funding types…

Project Based Section 8: Is a government funded program.  Properties that participate in the Project Based Section 8 program must rent to households whose gross annual income is at or below 30%, 50% or 80% (based on property agreement) of the area median income (AMI) in the county the property is located.  The rent is based on 30% of the household’s gross annual income. Annual recertification requirements also do apply.  Rents can be adjusted between annual recertifications, should change in income requirements be met.  In addition, a student rule applies, which limits eligibility for those attending an institute of higher education that do not meet certain requirements.  In most cases, properties fill vacancy from a waiting list maintained at the property level.
See list of properties with Project Based Section 8

Tenant Based Section 8 aka Section 8 Voucher: Is a government funded program.  Households must qualify for a section 8 voucher through the local Community Development Agency (CDA) / Housing Redevelopment Authority (HRA) / Public Housing Authority (PHA).   Once a household has been approved for a section 8 voucher, it can be used at any participating property.  The local PHA/CDA/HRA will determine the rent/assistance breakdown.  The CDA/HRA/PHA pays the assistance portion per the agreement directly to the property.
See list of properties that accept Tenant Based Section 8 Vouchers

811 PRA: Is a government funded/DHS regulated program. Properties that participate in the 811 PRA program must rent to households based on referrals from the designated Department of Human Services (DHS) Coordinator.  The applicants must meet certain income restrictions and long term homeless (LTH) criteria.  Rent is based on 30% of the household’s gross annual income. Annual recertification requirements also do apply.  Rents can be adjusted between annual recertifications, should change in income requirements be met.
See list of properties with 811 PRA

Housing Tax Credit aka Section 42: Is an Internal Revenue Service (IRS) governed program. Properties that participate in the Housing Tax Credit program must rent to households whose gross annual income is at or below 50 % or 60% (newer agreement restrictions may range from 30% – 80% ; based on property agreement) of the area median income (AMI) in the county where the property is located.  The rents also must be maintained under the rent limit threshold in the county where the property is located, based on bedroom size.   In addition, for many properties a student rule also applies, limiting eligibility for households comprised of all full-time students, that do not meet certain exceptions.  Annual recertification requirements may also apply.
See list of properties with Housing Tax Credit

See list of properties with similar Locally Funded Programs

HOME: Is a government funded program. Properties that participate on the HOME program must rent to households whose gross annual income is at or below 50% or 80%, (based on property agreement) of the area median income (AMI) in the county the property is located. The rents must also be maintained at or below the rent limit threshold, in the county were the property is located, based on bedroom size.   For some HOME properties, a student rule also applies, which limits eligibility for those attending an institute of higher education that do not meet certain requirements. Annual recertification requirements may also apply.
See list of properties with HOME