The primary difference between a Housing Choice Voucher (HCV) and a Project-Based Voucher (PBV) lies in their flexibility and attachment to housing units. The HCV program allows participants to select their own housing from the private rental market, providing them with a voucher that they can use to help pay for part of their rent anywhere that vouchers are accepted. This means the assistance is tied to the individual or family, allowing them to move without losing their voucher assistance.
On the other hand, the PBV program ties the rental assistance to specific housing units within certain buildings, rather than to the tenant. This means if a tenant decides to move, the voucher stays with the unit, and the next eligible tenant moving into that unit receives the assistance. PBVs are part of strategies to provide stable, project-based affordable housing options, often aimed at revitalizing specific communities or supporting targeted redevelopment areas.
Both programs are part of HUD's efforts to provide safe, decent, and affordable housing to low-income families, the elderly, and the disabled, but they operate under different rules to accommodate different needs and policy goals.
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