U.S. Department of Housing and Urban Development: Supportive Housing for the Elderly Program
The Supportive Housing for the Elderly 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. This program provides very-low-income 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.
Capital Advance funds must be used to finance construction, reconstruction, moderate or substantial rehabilitation, or acquisition of a structure with or without rehabilitation. Program funds cannot be used to construct or operate assisted living facilities. 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 U.S. Department of Housing and Urban Development (HUD)-approved cost to operate the project. PRAC funds may also be used to provide supportive services and to hire a service coordinator.
The purpose of the program is to fund properties that advance housing for the elderly as a platform for living independently and aging in a community even as residents may require more assistance with activities of daily living over time. The program seeks to fund properties that will be at the forefront of design, service delivery, and efficient use of federal resources that will provide models for replication by other providers of supportive housing for very-low-income elderly persons. Successful applicants are expected to demonstrate best practices or innovation in both physical design and supportive services. Proposals must promote the long-term physical and mental health and wellness of very-low-income elderly persons and the efficient delivery of government assistance.
Amount: Approximately $50,000,000 is available to make up to 30 awards ranging from $50,000-$5,000,000.
Eligibility: Private non-profit organizations that have tax-exempt status under Section 501(c)(3) or Section 501(c)(4) of the Internal Revenue Code; and non-profit consumer cooperatives.
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