FY 2023 Section 202 Supportive Housing for the Elderly Program

Active
Yes
Status
Posted
Published Date
February 21st, 2024
Close Date
June 20th, 2024
Total Funding
$115,000,000.00
Award Ceiling
$20,000,000.00
Award Floor
$1.00
Expected No. Awards
20
Opportunity No.
FR-6700-N-52

Agency

Department of Housing and Urban Development (HUD)

Eligible Applicants

Others

Funding Category

Housing

Funding Instrument

Grant

Opportunity Category

Discretionary

Cost Sharing or Matching Requirement

Yes

Summary

The Department of Housing and Urban Development (HUD) has posted a grant opportunity titled "FY 2023 Section 202 Supportive Housing for the Elderly Program". This grant aims to provide funding for the development of supportive rental housing for Very-Low-Income persons aged 62 years or older. The program also includes project rental subsidies in the form of a Project Rental Assistance Contract (PRAC) to maintain ongoing affordability. The goal of this program is to offer elderly individuals the opportunity to live independently while receiving important voluntary support services such as nutritional, transportation, continuing education, and health-related services. Additionally, this year's notice of funding opportunity (NOFO) includes funding to support the development of intergenerational housing for elderly caregivers raising children. The grant funds can be used for construction, reconstruction, rehabilitation, or acquisition of a structure with or without rehabilitation. It is important to note that Capital Advance funds bear no interest and repayment is not required as long as the housing remains available for occupancy by Very-Low-Income Elderly Persons for at least 40 years. The deadline for applications is June 20, 2024, at 11:59:59 PM Eastern time. For more information and to apply, please visit the following link: https://www.hud.gov/program_offices/cfo/gmomgmt/grantsinfo/fundingopps

Description

The Section 202 Supportive Housing for the Elderly program provides Capital Advance funding for the development of supportive rental housing for Very-Low-Income persons aged 62 years or older and project rental subsidies in the form of a Project Rental Assistance Contract (PRAC) to maintain ongoing affordability. This program provides elderly persons with the opportunity to live independently, but with important voluntary support services such as nutritional, transportation, continuing education, and/or health-related services. In addition, this year’s NOFO includes funding to support the development of intergenerational housing for elderly caregivers raising children. Intergenerational dwelling units are also referred to as 'intergenerational housing' in this NOFO.Capital Advance funds must be used to finance construction, reconstruction, moderate or substantial rehabilitation, or acquisition of a structure with or without rehabilitation. Capital Advance funds bear no interest and repayment is not required provided the housing remains available for occupancy by Very-Low-Income Elderly Persons for at least 40 years.Project Rental Assistance Contracts (PRAC) are used to cover the difference between the tenants' contributions toward rent and the HUD approved cost to operate the project, including the cost of employing a service coordinator and HUD approved service expenses (see 24 CFR 891.205).HUD encourages applicants to use Capital Advance funds in combination with other non-Section 202 funding, but they may only be used in connection with units that will be assisted under the PRAC. PRAC units may be developed or placed within a property that also includes non-PRAC residential units (whether restricted as affordable or rented at market rates) and non-residential units (such as first floor commercial space).HUD seeks to fund Section 202 properties that advance housing for the elderly as a platform for living independently and aging in community even as residents may require more assistance with activities of daily living over time. Through this NOFO, HUD seeks sponsors that:Will produce housing that is physically designed to promote the long-term wellness of Elderly Persons and allow them to age in place;Can provide a robust package of services that support the health and social well-being of Elderly Persons; andLeverage Capital Advance funds with other financing sources to maximize the number of units created per dollar of HUD funding.Per 24 CFR 891.809, Capital Advance Funds can NOT be used: For acquisition of facilities currently owned and operated by the Sponsor as housing for the elderly, except with rehabilitation as defined in 24 CFR 891.105;For the financing or refinancing of currently Federally assisted or Federally-insured units (this includes projects currently encumbered by FHA-insured debt and Flexible Subsidy Loans, as well as existing 202 Capital Advance and Direct Loan projects);For units in Section 202 direct loan projects previously refinanced under the provisions of Section 811 of the American Homeownership and Economic Opportunity Act of 2000, 12 U.S.C. 1701q note; andTo construct or operate nursing homes, infirmaries, assisted living facilities, medical facilities, mobile homes, community centers, headquarters for organizations for the elderly, or residential units without individual kitchens and/or bathrooms (also known as "single room occupancy units" or SROs) that are not shared.

Contact Information

Opportunity Lifecycle

Title
Type
Grant

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