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KCDC seeks to award Project-Based Vouchers to developers of affordable housing
Knoxville’s Community Development Corporation (KCDC) has issued a request for proposals to award up to 300 Section 8 Project-Based Vouchers to developers for existing, new or rehabilitated housing units. The vouchers, known as PBVs, will increase the availability of affordable housing in Knoxville and Knox County.
“This is a significant step toward building the supply of affordable housing in our community,” said Ben Bentley, executive director and CEO of KCDC. “We encourage area developers to review the requirements of the PBVs and submit proposals.”
PBVs provide stability to affordable housing stock. As opposed to Section 8 Housing Choice Vouchers that are issued to individuals or families, PBVs are attached to housing units. Owners of PBV units agree to rent the units to eligible tenants for the duration of the contract, which may range from 10 to 20 years.
Details about the request for proposals (RFP) for the Project-Based Vouchers are available at https://www.kcdc.org/procurement. KCDC will accept proposals through June 30, 2019, or until issuance of 300 vouchers. KCDC plans to review proposals quarterly.
About Knoxville’s Community Development Corporation
Since 1936, KCDC has been dedicated to enhancing the quality of life for the citizens of Knoxville. KCDC’s mission is to improve and transform neighborhoods and communities by providing high-quality affordable housing, advancing development initiatives and fostering self-sufficiency. For more information, call 865-403-1100 or visit https://www.kcdc.org/.