The latest information on funding availability for HUD-subsidized Section 202 housing. This section also provides updates and information on regulatory guidance and legislative advocacy around housing finance, refinancing and preservation.
Please join us in signing on to the National Low Income Housing Coalition letter, which calls for an increase to the Transportation, Housing and Urban Development, and Related Agencies (THUD) 302(b) allocation in FY15 at “the highest possible level” to sustain the critical work of these agencies and to ensure that the benefits seen in local communities are not just continued but are increased in FY15.
Gates Dunaway, LeadingAge's contracted preservation expert, profiles the Affordable Housing Program (AHP) grant from the Federal Home Loan Bank (FHLB) and the ways it can be a valuable tool for owners of affordable rental housing seeking funding for capital improvements and to build new affordable communities.
The U.S. Department of Housing and Urban Development (HUD) is actively working with industry partners to preserve the affordability and long-term viability of multifamily housing. A January 7 message from HUD offers links to some useful resources and includes reminders as Section 236 mortgage maturation approaches.
Success! Guidance is being drafted to go to the the U.S. Department of Housing and Urban Development (HUD) field offices and PBCAs within the coming month or weeks articulating HUD's intentions to keep refinance-enabled, allowable use approvals for shared savings capital repair and resident services programs funded for a specific cohort of "previously refinanced Section 202 properties."
For the first time, more than half of all U.S. renters spend more than 30% of their income on rent, according to a new report by the Harvard Joint Center for Housing Studies. And, more than ever before, the private market struggles to provide decent housing that is affordable for people of even modest means.
$14.8 million was awarded to preserve affordable rental assistance for elderly tenants living in 12 subsidized properties, according to the U.S. Department of Housing and Urban Development (HUD). This funding is provided through HUD's Senior Preservation Rental Assistance Contracts (SPRACs), and is targeted for properties in HUD's Section 202 "Supportive Housing for the Elderly" program where rental assistance may expire without this important preservation tool.