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Senior Citizen Housing
HUD Housing for Elderly Gets Big Boost from
Appropriations Committee
House committee allocates $121 million more than
Bush budget request
July 26, 2006 It seemed like Christmas in July
for advocates of public senior housing, when the U.S. House
Appropriations Committee passed a 2007 budget for elderly housing that
was $15.4 million larger than this year and a huge $121 million above
the budget request by President Bush.
It was part of the total for the Department of
Housing and Urban Development, which the committee funded with $36.6
billion, an increase of $2.5 billion above the President's request.
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Although a number of the HUD programs are
beneficial to senior citizens, it is the provision called "Section 202
Housing for the Elderly," that most directly reaches older Americans.
The bill passed July 20 includes $750 million for Section 202 Elderly
Housing.
"We commend Sen. Kit Bond (R-Mo.) for championing
this increase and for recognizing how affordable housing increases the
opportunities available to seniors and the disabled to find the
affordable, safe and secure housing that they deserve," said Larry
Minnix, president and CEO of the American Association of Homes and
Services for the Aging.
"We are grateful for the committees support. AAHSA
will continue to urge Congress to fund the 10,000 new affordable senior
housing apartments needed to ensure that all of America's seniors can
have a place to call home," Minnix added.
With Section 202 money, HUD provides capital
advances to finance the construction, rehabilitation or acquisition of
structures that will serve as supportive housing for very low-income
elderly persons, including the frail elderly, and provides rent
subsidies for the projects to help make them affordable.
HUD says, "The Section 202 program helps expand the
supply of affordable housing with supportive services for the elderly.
It provides very low-income elderly with options that allow them to live
independently but in an environment that provides support activities
such as cleaning, cooking, transportation and similar services."
The program is similar to Supportive Housing for
Persons with Disabilities (Section 811), which received $240 million,
about $3 million above the FY06 level and $121 million above the
Administration's budget request.
How Section 202 Works
Under Section 202, HUD provides interest-free
capital advances to private, nonprofit sponsors to finance the
development of 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 funds are provided to
cover the difference between the HUD-approved operating cost for the
project and the tenants' contribution towards rent. Project rental
assistance contracts are approved initially for 5 years and are
renewable based on the availability of funds.
Eligible Grantees:
Private nonprofit organizations can apply to develop a Section 202
project if they can, among other requirements, submit a resolution that
they will provide a minimum capital investment equal to 0.5 percent of
the HUD-approved capital advance, up to a maximum of $25,000 for
national sponsors or $10,000 for other sponsors. Public entities are not
eligible for funding under this program.
Eligible Customers:
Occupancy in Section 202 housing is open to any very low-income
household comprised of at least one person who is at least 62 years old
at the time of initial occupancy.
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