Idaho Housing and Finance Association currently administers two distinct Project Based Section 8 Subsidy Portfolios.

1. The first portfolio was financed by Idaho Housing and Finance Association (IHFA), from 1978 through 1981. Regulatory Agreements and HAP Contracts govern the developments. IHFA performs a wide range of compliance activities on these developments including physical inspections, Occupancy reviews and IHFA holds and administers the Replacement Reserve and all other appropriate escrow accounts. IHFA processes the monthly Housing Assistance payments (HAPS) and submits data to the TRACS system.

2. Beginning in October of 2000 the Department of Housing and Urban Development (HUD) contracted with IHFA to assume some administrative responsibilities for Project Based Section 8 in the state of Idaho under HUD’s Incentive Based Initiative. IHFA assumed administration responsibilities in the following areas:

• Process, approve and pay monthly HAP vouchers.
• Process Expiring Contract Renewals.
• Conduct Management and Occupancy Reviews.
• Follow-up on REAC inspection Results.
• Monitor and enforce HAP contract compliance.
• Address tenants complaints and address reported Health and safety issues.