SPHA Receives $100,000 from City of St. Petersburg to Help Eligible Households with Security Deposits
ST. PETERSBURG, FL (NOVEMBER 1, 2023) - The St. Petersburg Housing Authority (SPHA) is delighted to announce the receipt of $100,000 from the City of St. Petersburg, to help eligible households with security deposits. This funding allocation is part of city officials dedicating over $3.5 million in federal funding to housing initiatives.
Following the city's reception of the third and final reallocation of pandemic-era Emergency Rental Assistance funding (ERA2) in April, the recent unanimous decision by council members, during their October 19 meeting, authorized the addition of an extra $956,924 to the existing $2.55 million installment, reaffirming their dedication to addressing housing challenges within the community.
Expressing his appreciation for the allocation, Mr. Michael Lundy, President/CEO of SPHA, highlighted the positive impact this contribution will have on the community. "We are thrilled to receive this generous contribution from the City of St. Petersburg. This investment signifies a significant commitment to addressing housing challenges within our city, and it is a powerful step forward in ensuring a stable and secure living environment for our residents," said Mr. Lundy.
The $100,000 allocation will specifically assist with security deposits for Housing Choice Voucher (HCV) participants. It is important to note that these funds are not available to the general public. The security deposits can be utilized for both incoming/new admissions and existing participants of the HCV program.
The Housing Choice Voucher (HCV) program, also known as Section 8, is the largest affordable housing program in the United States and is funded by the U.S. Department of Housing and Urban Development (HUD). Vouchers enable participants to receive a subsidy, while leasing from their choice of landlords in the private market. The rental assistance is designed so that families are not forced to spend an unreasonable portion of the monthly income on shelter. Section 8 tenants typically pay 30 percent of their monthly income for rent. The HCV / Section 8 program also allows families the flexibility to select the community or neighborhood in which they live, and vouchers can move with the tenant (portable).
Photo of the St. Petersburg Housing Authority main office.
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ABOUT THE ST. PETERSBURG HOUSING AUTHORITY (SPHA):
An independent quasi-governmental entity and a political subdivision of the State of Florida, operating under Chapter 421 Florida Statutes, SPHA is the local administrative agency for housing assistance programs funded by the U.S. Department of Housing and Urban Development (HUD). SPHA offers a variety of programs and services that provide affordable rental housing to low-income families, seniors, veterans, and the disabled in the greater St. Petersburg region. For more information, visit www.stpeteha.org.