HUD Awards $160M for New Section 202 Homes
On Oct. 2nd, the U.S. Department of Housing and Urban Development (HUD) announced $160.1 million in awards to 25 nonprofit organizations, including 11 LeadingAge members, to build and preserve affordable housing for older adults with very low incomes through the Section 202 Supportive Housing for the Elderly program. This is the third round of awards since Congress revived funding for the program in 2018 after several years of zero funding for new Section 202 homes.
LeadingAge National has championed advocacy efforts to bring the Section 202 program back because of its unique attributes. For example, households’ incomes are never too low to live in Section 202 housing; rent for each household is based on that household’s income and fluctuates as necessary to continuously provide affordable, stable housing; and about half of existing and all newly awarded Section 202 communities have Service Coordinators who connect residents to the services and supports needed to successfully age in community.
“HUD’s Section 202 Supportive Housing for the Elderly program, unique for its focus on older adults and a demonstrated success in ensuring positive outcomes, is a program we fought hard to revive,” said Katie Smith Sloan, president and CEO of LeadingAge National, in a statement. “We’re thrilled that these funds are being distributed, and proud to support our members around the country who serve low-income older adults in affordable housing communities.”
Read HUD’s press release here.
Contact: Annalyse Komoroske Denio, akomoroskedenio@leadingageny.org, 518-867-8866