HUD announces housing grants for senior citizens and persons with disabilities

The funding will provide interest-free capital advances to non-profit developers to develop accessible housing, offer rental assistance and provide supportive services for the elderly and persons with disabilities. The grants are provided through HUD's Section 202 and Section 811 Supporting Housing programs. They will fund 169 projects in 46 states. Section 202 Capital Advance Program expands the supply of affordable housing with supportive services for the elderly. In addition to funding the construction, acquisition and rehabilitation of multifamily developments, HUD's Section 202 program also provides Project Rental Assistance Contract (PRAC) funds to subsidize the rents so that residents only pay 30 percent of their adjusted incomes. To be eligible for the assistance, a household must be classified as "very low- income," which means an income less than 50% of the area median. Nationally, based on 50% of the national median family income with an applicable adjustment for household size, a one-person household would need to have an income equal to or less than $22,400 a year.