The U.S. Department of Housing & Urban Development has released a Notice of Funds Availability (NOFA) for $50 million of $110 million available funds. According to Linda Couch, VP of Housing Policy at LeadingAge, ” The NOFA provides significant scoring advantages to applications that leverage funds (ie, applications with other capital funding besides 202 will see greater operating funding from the NOFA). And, there is a strong emphasis on service coordination and successful aging in community.”
- These are the first funds for construction of new elderly housing under the Section 202 program since 2010.
- HUD is providing up to $50 million in Capital Advance Funding for:
- the development and operation of supportive rental housing for very-low income persons aged 62 years or older and
- project rental subsidies in the form of a Project Rental Assistance Contract (PRAC) to maintain ongoing affordability
- The direct link to the HUD 202 NOFA can be found here. (PDF)
Webinar Available: Please note that HUD will host a single, national webinar on Thursday, April 25, from 2-3 p.m. EST to provide an overview of the NOFA. Register here for the webinar.
