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comparable replacement home and the unit to which you relocate exceed the voucher <br />"payment standard," you will qualify for cash assistance to cover the gap for 60 months. <br />Advantages of HCV Assistance. The HCV assistance may continue for as long as you <br />have a need. Unlike cash assistance, HCV assistance is recomputed each year to reflect <br />changes in your income, rent or the cost of utilities. While cash assistance will terminate <br />at the end of 60 months, HCV assistance may continue to be available after the 60-month <br />period ends if you still qualify as slower-income person. <br />B. URA Rental Assistance <br />URA rental assistance is computed by subtracting the "base monthly rent" for your <br />present home from the rent and average monthly cost of utilities for your new home (or a <br />comparable replacement home, if that cost is lower). That monthly need, if any, is <br />multiplied by 42, to determine the total amount that you will receive. This amount will <br />be paid directly to you in monthly installments or other periodic payments. Generally, <br />the base monthly rent for your present home is the lesser o£ (1) the monthly rent and <br />average monthly cost for utilities, or (2) thirty (30) percent of your gross monthly <br />household income (if you are low-income based on I-IUD income limits). <br />Examples: Let's say that the monthly rent and average cost for utilities for your present <br />home are $250; the monthly rent and estimated average utility costs for a comparable <br />replacement home are $350; and your monthly gross income is $700. In this case, your <br />"base monthly rent" would be $210 because you are low-income and that amount (30 <br />percent of your income) is less than the monthly cost of rent and utilities at your present <br />home ($250). <br />If you rent a replacement home for $360 per month, including estimated average <br />monthly utility charges, you will receive $5,880. That amount is 42 times $140 (the <br />difference between the "base monthly rent" for your present home ($210) and the cost <br />for a comparable replacement home ($350)). <br />• If you rent a replacement home for $310, including estimated average monthly utility <br />charges, you will receive $4,200. That amount is 42 times $100 (the difference <br />between the "base monthly rent" for your present home ($210) and the actual cost of <br />your new home ($310)). <br />C. Purchase Assistance <br />If you buy, rather than rent, a replacement home, you may be eligible for assistance to <br />make a down payment. The amount depends on the type of housing that you buy. <br />Section 104(d) purchase assistance is limited to mutual housing and cooperative housing. <br />If you wish to purchase a house that is not mutual or cooperative housing, your purchase <br />assistance would be provided under the URA. <br />80B-82 <br />