$115M Available for HUD Section 202 Housing
On Feb. 21st, the U.S. Department of Housing and Urban Development (HUD) announced a $115 million Notice of Funding Opportunity (NOFO) for capital advances and Project Rental Assistance Contracts for new Section 202 Supportive Housing for the Elderly homes. Applications are due June 20, 2024. Only nonprofit organizations are eligible to apply.
This is the fourth consecutive year that HUD has issued a national competition for Section 202 homes, following a pause in new funding from 2011 to 2018. The agency expects to make about 20 awards of up to $20 million each as a result of the current $115 million NOFO.
LeadingAge has worked tirelessly with its members and other advocates to revive and strengthen the Section 202 program, which is needed now more than ever as severe rent burdens and homelessness are becoming more pervasive among low-income older adults. Read more about LeadingAge’s advocacy, the Section 202 program, and the NOFO here.
Contact: Annalyse Komoroske Denio, akomoroskedenio@leadingageny.org, 518-867-8866