HUD Announces Additional $11.7 Million to Fund Housing for Very Low-Income Seniors in Michigan

||HUD Announces Additional $11.7 Million to Fund Housing for Very Low-Income Seniors in Michigan

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WASHINGTON – More very low-income senior citizens in Michigan will have access to affordable supportive housing thanks to $11.7 million in housing assistance announced today by the U.S. Department of Housing and Urban Development (HUD). The funding announced today will help non-profit organizations produce additional accessible housing, offer rental assistance, and facilitate supportive services for the elderly.

The capital advances and rental subsidies are provided through HUD’s Section 202 Supportive Housing for the Elderly Program. Last November, HUD announced $545 million in Section 202 grants nationwide to 97 grantees in 31 States and Puerto Rico. In addition to funding the construction, acquisition, and rehabilitation of multifamily developments, HUD’s Section 202 program also provides million of dollars in rental assistance so that residents in selected developments only pay 30 percent of their adjusted income.

“The Obama Administration is committed to helping our senior citizens find an affordable place to live that is close to needed healthcare services and transportation,” said HUD Secretary Shaun Donovan. “These grants and continued rental subsidies will help provide critically needed housing to some of our most vulnerable citizens.”

Continue reading on HUD.gov

2012-02-03T14:46:31+00:00 Industry News|