HUD Announces Competition for $185M in New Section 202 Grants

The U.S. Department of Housing and Urban Development (HUD) has announced a Notice of Funding Opportunity (NOFO) for new Section 202 Supportive Housing for the Elderly Grants. The NOFO will provide $184.6 million for capital advance funds and Project Rental Assistance Contracts (PRACs) to provide ongoing operating subsidy in capital-funded units. Applications for this NOFO are due Jan. 25, 2023.

The Section 202 program serves older adults aged 62+ who are "very low income" (earning below 50 percent of the Area Median Income (AMI)). Residents pay about 30 percent of their household income toward rent, while the PRAC operating subsidy covers the balance of the total HUD-approved rent amount.

Read LeadingAge National’s analysis of the new NOFO, including updated standards and project scoring guidelines, here.

Contact: Annalyse Komoroske Denio, akomoroskedenio@leadingageny.org, 518-867-8866