Which of the following best describes project-based assistance under the HCV program?

Project-based assistance under the Housing Choice Voucher (HCV) program is specifically designed to provide rental assistance for tenants in designated units within a project, rather than being tied to the tenant themselves. This means that the assistance is linked to the physical housing unit, which can help ensure that affordable rental options are available in areas of high demand.

When a tenant moves into a project-based unit, the rental assistance goes with that unit. This arrangement supports both the tenant's ability to access affordable housing and encourages property owners to maintain and improve their rental properties. This is different from tenant-based assistance, where the voucher is portable and can be used by the tenant in various housing units, provided they meet eligibility criteria.

The other options do not accurately represent project-based assistance under the HCV program. While providing assistance to homeless individuals is an important aspect of housing support, it is not the defining characteristic of project-based assistance. Similarly, funding to build new housing projects and financial aid for utility payments do not pertain directly to the concept of project-based assistance and how it operates within the HCV framework.