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Operating under a performance based Annual Contributions Contract (ACC) with the United States Department of Housing and Urban Development, Iowa Finance Authority currently provides administrative services to HUD to monitor performance of owners and management agents participating in project-based Housing Assistance Payments (HAP) Contracts under Section 8 of the United States Housing Act of 1937 (42 U.S.C. 1473f) (Section 8). The ACC currently covers 239 properties that provide affordable rental housing to 12,057 individuals and families in 75 Iowa counties.
Under the terms of the ACC Iowa Finance Authority provides administrative services for monitoring and evaluation of management and occupancy policies and procedures, monitoring property owner compliance with civil rights regulations including Title VI, Title VII, the Americans with Disabilities Act, and Section 504 of the Rehabilitation Act of 1973, processing Owner requests for rental rate adjustments, review and authorization of monthly Section 8 voucher payment requests, notifying and resolving Health & Safety concerns both life-threatening and non-life-threatening, and renewal of expiring Section 8 contracts as necessary.
We currently provide the following services:
- Conduct at least one management and occupancy review per year
- Adjust contract rents in accordance with HUD regulations
- Process HAP contract terminations and expirations
- Respond to health and safety issues
- Submit Section 8 budgets, requisitions, revisions and year-end statements
- Renew HAP Contracts
- Follow-up on physical inspections performed by HUD staff
- Process and pay the monthly vouchers submitted by property owners participating in the Section 8 program.
