Clarendon Awarded Connecticut Contract
Clarendon has been awarded a contract with the Connecticut Housing Finance Authority (CHFA) to provide Reviews of HUD Section 8 Rent Comparability Studies (RCS) for the State of Connecticut.
Section 8 laws and administrative procedures require HUD to obtain and review Rent Comparability Studies (RCS) when initially renewing most Section 8 contracts and when processing some rent increase using the Annual Adjustment Factors. The market rents resulting from these studies determine the rents owners can receive and, hence greatly influence whether an owner will renew and continue providing assisted housing or optout of the Section 8 contract and convert to unassisted, market rent housing. The market rents set in these studies also drive HUD’s outlays for Section 8 project-based subsidy.
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Clarendon Valuation Advisors offers a full range of affordable housing valuation products and services including:
- HUD Section 8 Rent Comparability Studies
- LIHTC Market Studies
- Rent Reasonableness Studies
- Flat Rent Studies
- Development Support
To learn more about Clarendon Valuation Advisors’ services, please click here.
ABOUT CONNECTICUT HOUSING FINANCE AUTHORITY
The Connecticut Housing Finance Authority (CHFA) was created in 1969 by the Connecticut Legislature as a self-supporting quasi-public housing agency charged with expanding affordable housing opportunities for the state’s low- and moderate-income families and individuals. CHFA has helped more than 135,000 Connecticut individuals and families become homeowners through its low-interest single-family mortgage programs. In addition, CHFA has financed the creation of nearly 40,000 affordable, rental units throughout the state. To date, the combined mortgage financing for CHFA’s single-and multifamily housing programs exceeds $11 billion.
Clarendon, headquartered in Cleveland, Ohio, specializes in Affordable Housing Valuation, Market Studies, Research, Development Support and Investment Sales services for public and private clients in major markets nationwide.
Clarendon has been awarded contracts with the U.S. Department of Housing and Urban Development (HUD), including the New York, Boston, New Jersey and Baltimore offices. These contracts required the completion of a high volume of Rent Studies for family and senior housing, with HUD as an intended user. Clarendon has also been awarded contracts to provide Reviews of HUD Section 8 Rent Comparability Studies for the states of Pennsylvania and Michigan.
Clarendon is a certified WOSB, MWBE and we believe in a firm commitment to diversity and giving back to the communities that we live and work in. To learn more about our Real Estate Training Programs, click here.