Housing Subsidy Certificates
Torrance has accepted 21 new federal low-income housing certificates to help 10 elderly renters and 11 families pay their rent.
The certificates require holders to pay 30% of their income toward rent, with the federal government subsidizing the rest.
Torrance, which now controls 569 of the certificates, has a two- to four-year waiting list for the rent subsidy program, said senior planning associate Susan Bornemann.
“This will be the first time we’ve been able to significantly affect our waiting list in a long time,” Bornemann said, noting that it has been at least four years since the city was granted new certificates.
Under the rent subsidy program, low-income tenants must find apartments that cost no more than $491 for an efficiency, $588 for a one-bedroom, $684 for a two-bedroom or $876 for a three-bedroom, depending on the number of people in the family.
The new certificates are expected to provide about $147,000 in federal subsidies each year.
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