section 202 supportive housing for the elderly program
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WASHINGTON, April 3 /U.S. Newswire/ -- In a letter sent today to all members of Congress, the American Association of Homes and Services for the Aging (AAHSA) and AARP jointly called on Congress to increase funding for construction of low-income affordable senior housing apartments. This call comes at a time when there are nine people on a waiting list for each residential unit, and the President's proposed budget would cut the entire program by 30 percent and funding for new construction by nearly 25 percent.
The Section 202 Supportive Housing for the Elderly program has provided much needed safe, decent, affordable, supportive housing for low-income seniors since 1959," AAHSA President and CEO Larry Minnix said. "According to the U.S. Census Bureau, 3.5 million seniors now live in ...
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The Section 202 Supportive Housing for the Elderly Act of 2010, signed into law in January 2011, authorizes HUD to provide Senior Preservation Rental Assistance Contracts (SPRACs) with 20-year terms to prevent displacement of elderly residents of certain projects assisted under HUD's Section 202 Supportive Housing for the Elderly program in the case of refinancing or recapitalization and to further preserve and maintain affordability of Section 202 Direct Loan projects. In Fiscal Year (FY) 2012, $16 million was made available for SPRAC funding. This notice advises of HUD's intent to award SPRACs through the proposed application process described in this notice. HUD is soliciting comments on the proposed process for awarding SPRACs and the associated criteria for establishing eligibility...
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The proposed information collection requirement described below will be submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act. HUD is soliciting public comments on the subject proposal.
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... B: MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES. ... as otherwise expressly limited in this section, this part applies in its entirety to a mortgagor ... project receives assistance under the Section 202 Direct Loan program or the Section 202 Supportive Housing for the Elderly program; or. (7) The project receives assistance u...
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This proposed rule would amend HUD's regulations governing the Section 202 Supportive Housing for the Elderly Program (Section 202) and the Section 811 Supportive Housing for Persons with Disabilities Program (Section 811), by streamlining the requirements for mixed- finance Section 202 and Section 811 developments. This rule would streamline the requirements for mixed-finance developments by removing restrictions on the portions of developments not funded through capital advances, thereby lifting barriers on participation in the development of the projects, and eliminating burdensome funding requirements. These proposed amendments would attract private capital and the expertise of the private developer community to create attractive and affordable supportive housing developments for th...
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...PART 5: GENERAL HUD PROGRAM REQUIREMENTS; WAIVERS. Subpart H: Uniform Financia... (PHAs) receiving assistance under sections 5, 9, or 14 of the 1937 Act (42 U.S.C. 1437c, 1437...(i) Section 202 Program of Supportive Housing for the Elderly;. (i...
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WASHINGTON, March 30 /U.S. Newswire/ -- Since 1959, the Section 202 Supportive Housing for the Elderly program has provided seniors with much needed safe, decent and affordable apartments. Today, many senior housing communities also offer home health, meals, transportation and social activities that keep people healthy and avoid premature moves to a nursing home. This is better for the seniors and much better for everyonebs pocket book since affordable senior housing costs a fraction of nursing home care.
However, the president's budget calls for a 25 percent cut in funding for new senior housing, even though retirees sit on waiting lists for years and the nationbs aging population is growing. On Apr. 3, the American Association of Homes and Services for the Aging (AAHSA) and AARP will...