State HFAs and their partners provide affordable housing for elderly persons through the Section 202 Supportive Housing for the Elderly program, the Section 8 program, and other affordable housing programs.
Under the Section 202 program, HUD provides capital advances to finance the construction, rehabilitation, or acquisition with or without rehabilitation of structures that will serve as supportive housing for very low-income elderly persons, including the frail elderly, and provides rent subsidies for the projects to help make them affordable. In addition, HFAs provide home equity conversion mortgages (HECM), an FHA-insured reverse mortgage, allowing seniors (62 and over) to access the equity in their home.
NCSHA Blog Posts
- March 13, 2014
Since the Administration released its FY 2015 Budget on March 4, federal agencies have released additional details about their Budget requests. NCSHA has updated and expanded its initial preliminary Budget analysis to include additional information on proposed housing program funding levels and policies.
- January 17, 2014
Late yesterday, the Senate passed by a vote of 72 to 26 the FY 2014 omnibus appropriations bill, H.R. 3547. The House approved the same bill the day before, 359 to 67. The President is expected to sign the bill soon. The omnibus, which includes all 12 appropriations bills, sets final FY 2014 appropriations levels and funds all federally funded agencies, including HUD and the Department of Agriculture (USDA), through the end of FY 2014.
- Harvard University Joint Center for Housing Studies
- New Hampshire HFA: Third Phase of Meeting Place Housing Development in Exeter Receives Over $1 MillionApril 14, 2014
New Hampshire Housing’s Board of Directors recently approved over $1 million in federal HOME funding for Berry Park Housing Corporation, an affiliated entity of Avesta Housing Development Corporation, to construct a third phase of the Meeting Place housing development in Exeter.
- April 7, 2014
Affordability has been preserved and extended for low-income senior citizens living at the 87-unit Victory Gardens in East Boston as a result of an $8.3 million MassHousing loan closing.
Elderly Housing - Resources
- March 7, 2013
These documents and links provide implementation information on the FY 2013 sequestration.
- September 17, 2012
NCSHA along with other members of the Campaign for Housing and Community Development Funding (CHCDF) calculated the estimated impacts of sequestration on HUD programs. The calculations use FY 2012 funding levels and assume an 8.4 percent across-the-board cut. CHCDF is a coalition of diverse organizations concerned with the housing needs of low- and moderate-income households and the community development needs of our nation.