Enhanced Use Lease (EUL) Program Frequently Asked Questions (FAQs)
No, there is no funding tied to this initiative. However, you are encouraged to apply for federal, state and local capital and operating funding. Funding sources could include Low Income Housing Tax Credit equity, Historic Preservation Tax Credit equity (for buildings or land parcels with historic considerations), HUD programs, Federal Home Loan Bank funds, and HUD-VA Supportive Housing (HUD-VASH) vouchers.
Examples of EUL Active Awarded Projects and the In Kind Consideration Reports may be accessed on VA’s Office of Asset Enterprise Management website.
Yes, a developer may propose use of HUD-VASH vouchers in its financing plan. However, it will be the responsibility of the developer to determine how to secure these vouchers and/or other funding as appropriate in keeping with the proposed project timeline (i.e., there is no funding tied to this initiative).
Presently, there is no consideration for a BURR set-aside with 2011 HUD-VASH vouchers. However, many Public Housing Agencies (PHAs) have vouchers currently available. In addition, the FY 2011 vouchers were recently awarded so it would be best to talk to the PHAs as soon as possible. The press release can be found at: http://portal.hud.gov/hudportal/HUD?src=/states/washington/news/HUDNo.2011-07-14.
Yes, the vouchers are allocated on an annual basis and are renewed every year. For example, if there were 10,000 vouchers awarded in 2008, since then, each year the 10,000 vouchers have been renewed.
You can talk to your local U.S. Representative or Senator’s office about the need for more vouchers and more funding for the HUD-VASH Program.