Description

DESCRIPTION: Privately owned building whose management contracts with either the U.S. Department of Housing and Urban Development (HUD) or the Minnesota Housing Finance Agency to receive rental subsidies This type of property is sometimes referred to as "Project Based Section 8 Housing." Property owner/manager must follow HUD regulations. The government gives funds directly to the apartment owners, who lower the rents they charge tenants with low-income. This type of affordable housing requires at least one resident in the apartment to be a senior. The rental amount paid by the resident is determined based on the resident's income. Some units have a low, fixed rent amount. HUD requires rental housing to provide Equal Housing Opportunity. HUD enforces the Fair Housing Act. More information available online (https://www.hud.gov/program_offices/fair_housing_equal_opp).

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