BRADENTON -- A 10 percent fair market rent increase was approved today by the Housing Authority of the City of Bradenton, an increment that officials said would give Section 8 housing tenants a wider choice of locations where they can live.
“The 10 percent increase does not affect renters,” said Wenston DeSue, executive director of HACB.
Fair market rent is the federal Department of Housing and Urban Development’s estimate of what renting should cost in an area, and local housing authorities have the flexibility of raising the amount by up to 10 percent, said Darcy Branch, financial director of HACB.
“This enables tenants to go into better areas in the rental market,” Branch said.
Under Section 8’s Housing Choice Voucher Program, the federal government helps low-income families, the elderly, and disabled individuals pay for housing in the private market.
Branch said that Section 8 tenants pay up to 30 percent of their income toward rent and the housing authority pays the remaining 70 percent.
The increase will become effective April 1, the start date of fiscal year 2012.
Miriam Valverde, Herald reporter, can be reached at 941-745-7024.