Public Housing Agencies (PHA) use the Rental Assistance Demonstration (RAD) Program to preserve affordable housing and improve properties by “converting” their form of federal assistance to the Section 8 program. South Terrace Apartments will be a Section 8 Project-Based Voucher (PBV) community.
Project Based Vouchers (PBVs) attaches a long-term rental assistance to properties, so current and future residents never pay more than 30% of their adjusted gross income (total income minus allowable deductions) in rent. After a property converts to Project Based Vouchers (PBV), your public housing lease ends and you will sign a Section 8 lease with the “owner” who in this case will continue to be the Waco Housing Authority (WHA). You will still have the same core rights that you have as a public housing tenant but will also gain new rights and protections under RAD.
