2020 Section 202 Supportive Housing for the Elderly

$22,000.00

2020 Section 202 Supportive Housing for the Elderly

Category:

Description

Description

This grant writing service is available from Comprehensive Grants Management. Comprehensive Grants Management will prepare, submit, track and support your grant application. 

2020 Section 202 Supportive Housing for the Elderly

Department of Housing and Urban Development

The grant due date is: TBD

Purpose: The program provides Capital Advance funding for the development and operation 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. 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 when the housing remains available for occupancy by very-low-income elderly persons for at least 40 years. PRACs are used to cover the difference between the tenants’ contributions toward rent and the HUD-approved cost to operate the project. PRAC funds may also be used to provide supportive services and to hire a service coordinator. This program provides very-low-income elderly persons with the opportunity to live independently with voluntary support services such as nutritional, transportation, continuing education, and/or health-related services. NOTE: Section 202 program funds cannot be used to construct or operate assisted living facilities.

Grant Award Amount: Up to $5 Million

Estimated Grant Period: 36 months

Eligible Applicants: Non-profit Organizations with a 501©(3) Letter from the IRS

Reviews

There are no reviews yet.

Be the first to review “2020 Section 202 Supportive Housing for the Elderly”

Your email address will not be published. Required fields are marked *