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Congress Eliminates Funding of New Section 202 Development; Provides Money for New Senior Preservation Assistance Subsidies
Despite elimination of funding for new construction, some helpful preservation funding was provided - as first-ever new rental assistance subsidies will now be available to older senior housing properties that refinance.
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HUD Offers Extensions of Rent Supplement and Rental Assistance Payment Contracts Expiring in 2011
A June policy offers up to a 1-year extension for Rent Supplement and RAP contracts tied to an eligible FHA-insured subsidized mortgage and set to expire in FY 2011 under the terms of the existing contract.
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Legislation Introduced to Abolish the National Housing Trust Fund
Though the fate of the legislation is unclear, a bill has been introduced that would abolish the National Housing Trust Fund.
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HUD Issues Guidance on Selling Nonprofit-Owned Developments
Non-profits may, for the first time, retain certain proceeds in sales that would ensure ongoing affordability.
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Seniors’ Desire to Age in Place Faces Serious Challenges
AARP report highlights financial and other considerations.
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