The Department of Housing and Urban Development (HUD) announced last week that $31.5 million was being made available for its Section 202 Supportive Housing for the Elderly program, which will give hundreds of very low-income seniors access to affordable housing.
These funds will be distributed to non-profit organizations in five states. Grants from the Section 202 program go toward construction, acquisition, and rehabilitation of multifamily developments and also provides funding for rental assistance so that individuals living in qualifying developments only need to pay 30% of their adjusted incomes.
“The Obama Administration is committed to helping our senior citizens find an affordable place to live that is close to needed healthcare services and transportation,” said HUD Secretary Shaun Donovan in a statement. “These grants and continued rental subsidies will help provide critically needed housing to some of our most vulnerable citizens.”
In recent months, the program has faced huge funding slashes from Congress, although HUD noted that it announced $545 million in Section 202 grants in November 2011.
Click here to see which organizations will benefit from the grants.
Written by Alyssa Gerace