PETRA incorporates a choice option for residents that want or need to move out of a converted property. Where will the vouchers come from?
The primary source of such voucher assistance would be turnover in the Housing Choice Voucher Program. About 11 percent of voucher households leave the program each year, making about 240,000 vouchers available for reissuance if Congress fully funds voucher renewals. HUD may also be able to provide a modest amount of funding for additional moving vouchers by reallocating voucher funding that agencies leave unspent above the level of allowable reserves, as proposed in the 2011 budget and in the Section 8 Voucher Reform Act (SEVRA). Reliance on turnover vouchers to provide moving vouchers means that a significant number of families can be provided this important new right at no additional cost. We expect this mechanism to be sufficient for the first several years of conversion under PETRA. A PHA that administers vouchers in addition to public housing would be required, if one or more properties is selected for conversion, to make available not more than one-third of its turnover vouchers
