HUD SPARC notice

LeadingAge submitted comments to U.S. Department of Housing and Urban Development (HUD) concerning the advance notice for the award of Senior Preservation Rental Assistance Contracts (SPRAC). SPRAC is the assistance authorized in the Section 202 amendments legislation enacted in December 2010 for units without rental assistance in pre-1974 Section 202 developments when they are refinanced. LeadingAge proposed this to the Congress to cover seniors who would be displaced or charged unconscionable rent increases if the properties were refinanced and rehabilitated in the absence of new rental assistance. For more information, click here.