HUD Announces Aid For Independent, Low-Income Seniors
BY
Bobbi Pronin
.
April 25, 2023
Seniors living independently in rental homes that receive contract rental assistance from the U.S. Department of Housing and Urban Development (HUD) may now receive expanded support services to help support their independent lifestyle.
According to new HUD guidance, owners of properties participating in the agency’s Multifamily Section 202 Supportive Housing for Low-Income Elderly program are eligible for extended funds to provide services that facilitate safe independent living and increase socialization opportunities for their elderly residents, such as meal programs, transportation services, common area fitness equipment and other health and wellness programs designed to benefit the community.
The Section 202 Supportive Housing program provides capital advance funding to construct, acquire or rehabilitate multifamily properties that serve very low-income individuals 62 or older. Participating property owners will also receive renewable project-based rental assistance contracts (PRACs) to cover reasonable and necessary operating expenses beyond the tenant’s portion of the rent.
Very low-income seniors are considered those earning less than 50 percent of the area’s median income. Most households in the Section 202 program earn less than 30 percent of their area’s median income.
The new guidance provides requirements regarding the scope, content and timeline for supportive services plans for property owners developing new plans or refreshing existing plans as required to maintain funding eligibility through the Section 202 PRAC program.
The guidance comes as a response to owners requesting more detailed information on how best to plan and execute effective services programs for residents at their properties.
“We will continue to work with owners as they develop or renew plans that support both individual residents and communities that are often a social lifeline for eligible seniors,” said Ethan Handleman, HUD’s Deputy Assistant Secretary for Multifamily Housing.
This material is meant for general illustration and/or informational purposes only. Although the information has been gathered from sources believed to be reliable, no representation is made as to its accuracy. The material is not intended to be relied upon as a statement of the law, and is not to be construed as legal, tax or investment advice. You are encouraged to consult your legal, tax or investment professional for specific advice. Not for reproduction.
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About Bobbi Pronin
Bobbi Pronin is an award-winning writer based in Orange County, Calif. A former news editor with more than 30 years of experience in journalism and corporate communications, she has specialized in real estate topics for over a decade.
Bobbi is not an employee of Anywhere Integrated Services or affiliated with its title companies.
