HUD to Award $531m in Housing Grants
The Department of Housing and Urban Development (HUD) is soliciting applications to help fund housing developments for people who are over 62 years old or disabled, and for assisted living facilities. HUD will provide up to $511m in the form of interest-free capital advances and rent subsidies to non-profit groups to produce affordable rental housing with support services for very low-income adults 62 years old or older, as well as for disabled individuals. The support services allow people with disabilities to live independently, but in an environment that provides access to social services. "These capital advances will help thousands of our very low-income elderly and persons with disabilities to find good housing they can afford," HUD secretary Shaun Donovan said. "Senior citizens and persons living with a disability should never have to worry about being able to find a decent place to live." HUD defines very low income as having a household income 50% below the area median, adjusted for family size. The money will be spent to construct, acquire or rehabilitate multifamily housing for these purposes, as well as provide rent subsidies so that the tenants are only required to pay rent equal to 30% of their income. An additional $20m is available in a second program to convert multifamily apartment complexes into assisted living facilities for low-income assisted living facilities for low-income adults 62 years or older. Assisted living facilities provide housing with services to help residents with daily activities as well as home management activities. Write to Austin Kilgore.