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Lots of rumors are flying about Section 8 housing in Downtown Phase II, so let’s look at the facts.
First, the 30-unit apartment complex with lease rates above market value has been removed from the Downtown Phase II plan at Council’s direction.
There are two types of federally subsidized (Section 8) housing programs, none of which are feasible for Hudson. There are only six government-funded housing complexes in Summit County; none in Hudson. This will not be a government-funded or subsidized housing development.
The Housing Choice Voucher Program (HCVP) (commonly called Section 8) helps low income households with rental assistance through vouchers. This voucher program follows the individual, not a specific housing development. Anyone could use an HCVP voucher to lease/rent any property in Hudson provided they meet both the program eligibility requirements and can qualify for the lease rates.
To be eligible for an HCVP voucher, an individual’s income must be below $23,450 per year, and under $33,450 for a family of four. Eligibility for vouchers is narrow and there is a waiting list to get into the program.
The housing rates for Downtown Phase II are at market rate or higher. Anticipated purchase prices range from $285,000 to over $450,000, and anticipated leases for the condominium flats (if they are leased rather than sold) would be $2,100 to $2,400 or more a month.
Even at the lowest purchase/lease rates, an individual or family whose income met the low-income thresholds of the program most likely not qualify to lease these above-market-price units based on their income.
For more about the housing options in Downtown Phase II visit: https://www.hudson.oh.us/1059/Housing.