The U.S. Department of Housing and Urban Development (HUD) recently released a Notice of Funding Opportunity (NOFA) for FY 2020 Section 202 Supportive Housing for the Elderly, which provides approximately $150 million in funding through Capital Advance funding and project rental subsidies in the form of a Project Rental Assistance Contract (PRAC) to maintain ongoing affordability. HUD expects to make approximately 45 awards from the funds available under this NOFA.
HUD’s goals are to 1) Advance housing for the elderly as a platform for living independently and ageing in the community, and 2) Fund properties that are at the forefront of design and service delivery, and efficiently use federal resources that will provide models for other providers of supportive housing for the elderly.
Private non-profit organizations that have tax-exempt status under Section 501(c)(3) or Section 501(c)(4) of the Internal revenue Code of 1986, and non-profit consumer cooperatives. Applications are due by May 26, 2021.
Additional information on HUD funding opportunities for Section 202 is available here.
The FY 2020 Section 202 Capital Advance NOFA Frequently Asked Questions is available here.