Section 202 Supportive Housing for the Elderly Program
Section 202 provides capital advances to finance the construction and rehabilitation of structures that will serve as supportive housing for very low-income elderly persons (62 years of age or older) and provides rent subsidies for the projects to help make them affordable. This program provides capital advances to finance property acquisition, site improvement, conversion, demolition, relocation, and other expenses associated with supportive housing for the elderly. The capital advance does not have to be repaid as long as the project serves very low-income elderly persons for 40 years. Project Rental Assistance is used to cover the difference between the HUD-approved operating cost per unit and the tenant's rent. Criteria for allocation of program funding include the number of elderly rental households served, the number of very low-income elderly renters in the area, and the number of very low-income elderly renters with housing problems who pay more than 30 percent of their incomes for rent.
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Funding Category: |
Grants for capital advances for construction and rehabilitation of structures for very low income elderly persons, as well as rent subsidies. |
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Target Population: |
Low-income elderly renters |
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Funding Available: |
For FY 2002, approximately $485.6 million. |
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Application Information: |
HUD SuperNOFA. For an application kit and any supplemental materials, please call HUD's SuperNOFA Information Center at 1-800-HUD-8929. Persons with hearing or speech impairments may call the Center's TTY number at 1-800-HUD-2209. When requesting an application kit, please refer to the Section 202 Program and provide your name, address (including zip code), and telephone number (including area code). The application kit also will be available on the Internet through the HUD web site at http://www.hud.gov/grants and from the appropriate Multifamily Hub or Multifamily Program Center. Application deadline: June 5, 2002. |
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Contact: |
HUD's Office of Multifamily Housing or HUD Field Office |
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Links To More Info: |
HUD Section 202 Description |
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Administering Agency: |