FY 2020 Section 202 Supportive Housing for the Elderly Program

HUD is providing Capital Advance funding and project rental subsidies for the development and ongoing  operation of supportive rental housing for very low-income persons, aged 62 years or older.  This funding, leveraged with other financing sources, will expand affordable housing opportunities that are physically designed and that have a robust set of services that will allow seniors to live independently and age in community. 

Private non-profit organizations that have tax-exempt status under Section 501(c)(3) or Section 501(c)(4) of the Internal Revenue Code of 1986, and non-profit consumer cooperatives are the only eligible applicants under this Section 202 program. The Owner corporation, when later formed by the Sponsor, must be: a single-purpose and single-asset private non-profit organization that has tax-exempt status under Section 501(c)(3) or Section 501(c)(4) of the Internal Revenue Code of 1986; non-profit consumer cooperative, or For purposes of developing a mixed-finance project pursuant to the statutory provision under Title VIII of the American Homeownership and Economic Opportunity Act of 2000, as amended, a for-profit limited partnership of which all general partner interests are held by a) one or more private non-profit organization(s) that have tax exempt status under Section 501(c)(3) or Section 501(c)(4) of the Internal Revenue Code of 1986, b) a corporation wholly owned and controlled by one or more private non-profit organization(s) that have tax exempt status under Section 501(c)(3) or Section 501(c)(4) of the Internal Revenue Code of 1986, or c) a limited liability company wholly owned and controlled by one or more private non-profit organization(s) that have tax exempt status under Section 501(c)(3) or Section 501(c)(4) of the Internal Revenue Code of 1986. Non-profit entities associated with public bodies or tribes are eligible applicants. Individuals, foreign entities, and sole proprietorship organizations are not eligible to compete for, or receive, awards made under this announcement.

202CapitalAdvanceNOFA@hud.gov 202CapitalAdvanceNOFA@hud.gov