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It is important to note that any designation of existing vouchers as project-based vouchers will <br />be done from our existing voucher pool and does not represent a new allocation of vouchers. <br />Also, given that the current program is at capacity, Orange County will only be able to <br />implement this program by using vouchers that become available in the future due to participant <br />turnover and the acquisition of new vouchers. Nonetheless, because project based vouchers <br />can be important to the feasibility of special needs rental housing projects, the County should <br />be proactive in establishing a system now in order to be able to immediately implement this <br />program should additional vouchers become available. It is recommended that no more than <br />50 units be designated under this program at this time. This will allow the support of <br />approximately two rental projects at 25 units as a pilot program. <br />FINANCIAL IMPACT: The program will be financed by the current Section 8 Program budget <br />authority. <br />RECOMMENDATION(S): The Manager recommends approval of a Section 8 Project Based <br />Voucher Program Policy under the County's Section 8 Housing Voucher Program. <br />