RSP Application Process
With the Rental Subsidy Program, properties apply to the Trust Fund for a given number of rental subsidies, in order to reduce the rent cost on a specified number of units. The goal is to create a unit rent rate that is affordable for very low-income individuals and families. The subsidy is intended to pay the difference between what qualified low-income tenants can afford to pay and qualified owner-established market rate rent.
Landlords accepted into the program receive a one-year, renewable grant and are paid on a quarterly basis in advance. Renewals with properties are based on successful performance and funding availability
A note about tenants: Properties apply to participate in the Rental Subsidy Program — not tenants. The Trust Fund does not approve tenants or have a waiting list of tenants for the Rental Subsidy Program. Households seeking the benefit of a rental subsidy apply to the approved building for a unit that has been approved for subsidy.
There are various ways in which an application is considered for the Rental Subsidy Program.
We are currently adding any new properties to participate in the Rental Subsidy Program. If you’re interested in participating please send an inquiry to Marlana Edwards at email@example.com. The email subject line should read CLIHTF Open Enrollment Inquiry.
Social Service Partner
Approximately 40 percent of the subsidies that the Trust Fund approves are tied to a social service partner, such as those participating in the Homeless Dedicated Initiative or other special initiative. For those units, the social service partner identifies a client who is eligible for a Rental Subsidy Program unit and then works to identify a property that will lease to the tenant.
Change in Rental Subsidy Program Agreement
On rare occasions, a currently approved property and the Trust Fund end their Rental Subsidy Program agreement. Reasons include the sale of the property, the unit going to the private market, or non-continuation due to cause. When this happens, the existing tenant will be provided the opportunity to identify a new unit. The newly identified property must complete the same application and documentation as they would under any other application process. The application is reviewed for the same criteria of housing safeness and unit affordability.
From time to time, the Trust Fund Board of Directors may allocate funding to a special initiative. In 2011, the Trust Fund Board programmed $2.5 million in rental subsidies to the initiative Homeless Dedicated Prevention to assist households benefiting from an expiring program. Applications were accepted from properties where the tenants currently resided with goal of preventing homelessness.