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On May 5, the U.S. Department of Housing and Urban Development (HUD) announced that a total of $4,893,248 in fiscal year 2010 Emergency Capital Repair Grant funds was awarded to 16 projects and 1,809 units.
The Emergency Capital Repair Grant is designed to provide funds to make emergency capital repairs to eligible multifamily projects owned by private not-for-profit entities designated for occupancy by elderly tenants.
Funded repairs covered everything from major foundation issues to replacement windows, AC systems to elevators, raised walkways and exterior finishes. Capital repair needs must relate to items that present an immediate threat to the health, safety, and quality of life of the tenants that cannot be absorbed within the project’s operating budget.LeadingAge members included in the grant were: