Fiscal Year 2015: No Current Data Available Fiscal Year 2016: No Current Data Available Fiscal Year 2017: No Current Data Available
The Department of Housing and Urban Development's mission is to increase homeownership, support community development and increase access to affordable housing free from discrimination. HUD fulfills this mission through high ethical standards, management and accountability, and by forming partnerships with community organizations.
|Recipient||Amount||Start Date||End Date|
|Petaluma Ecumenical Properties||$ 6,257,700||   ||2012-02-17||2019-09-30|
|Lakeview Apartments, Inc.||$ 1,224,100||   ||2012-02-17||2019-09-30|
|Homes For America, Inc.||$ 3,792,300||   ||2012-02-17||2019-09-30|
|Westfield Senior Citizens Housing Corporation||$ 11,719,100||   ||2012-02-17||2019-09-30|
|Tb Housing Development Fund Company, Inc.||-$ 1,160,000||   ||2012-02-17||2018-09-30|
|Oscar Eason, Sr. Apartments, Inc.||$ 654,143||   ||2012-02-17||2018-09-30|
|Hamilton Place Apartments Nfp||-$ 10||   ||2013-06-13||2018-09-30|
|Ludlow Commons Limited Partnership||-$ 45,875||   ||2012-02-17||2018-09-30|
|Amherst Ridge Senior Apartments, Inc.||-$ 617,852||   ||2012-02-17||2018-09-30|
|Taylor Volunteers Of America Elderly Housing Inc., A Nonprofit Housing Corporation||-$ 400||   ||2012-02-17||2018-09-30|
Uses and Use Restrictions
Capital advances may be used to finance the development of housing through new construction or rehabilitation of a structure or portion of a structure, or for the acquisition of a structure to provide supportive housing for the elderly, which may include the cost of real property acquisition, site improvement, conversion, demolition, relocation and other expenses of supportive housing for the elderly.
Project rental assistance is used to cover the difference between the HUD-approved operating cost per unit and the amount the tenant pays, 30% of their adjusted income.
Eligible Sponsors include private nonprofit organizations and nonprofit consumer cooperatives.
Eligible Owner entities include private nonprofit corporations, nonprofit consumer cooperatives, and if the proposed project involves mixed-financing, for-profit limited partnerships with a nonprofit entity as the sole general partner.
Public bodies and their instrumentalities are not eligible Section 202 applicants.
Beneficiaries of housing developed under this program must be elderly (62 years of age or older) and have very low-incomes.
The Sponsor/Owner must receive certification of eligibility from HUD. The Owner must submit financial documents to support its ability to provide a minimum capital investment of 1/2 of 1 percent of the HUD-approved capital advance amount, up to a maximum of $25,000 for national Sponsors or up to $10,000 if not a national Sponsor. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles.
Aplication and Award Process
Preapplication coordination is required.
An environmental impact assessment is required for this program.
This program is eligible for coverage under E.O.
12372, 'Intergovernmental Review of Federal Programs.' An applicant should consult the office or official designated as the single point of contact in his or her State for more information on the process the State requires to be followed in applying for assistance, if the State has selected the program for review.
This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. A Notice of Fund Availability is published in the Federal Register each fiscal year announcing the availability of funds to HUD Field Offices. Applicants must submit a Request for a Fund Reservation, using Form HUD-92015-CA, Section 202 application for capital advance, in response to the Notice of Fund Availability (or a Funding Notification issued by the local HUD Field Office). The application for capital advance is used to determine the eligibility of the applicant and proposed project as well as the acceptability of the site and market, correctness of zoning and the effect on environment. All applications must be submitted via www.grants.gov.
Applications are reviewed and selected for funding within the funding allocation area. Those selected for funding must meet basic program requirements including, but not limited to: eligibility as a private nonprofit organization, commitment to provide the minimum capital investment and prior experience in housing or related supportive service activities. The request for Capital Advance Financing, using Form HUD-92013, is reviewed to update the determination of acceptability of project site and market, correctness of zoning, and effect on environment, as well as to determine the value of site, total development cost, and financial feasibility.
Contact the headquarters or regional office, as appropriate, for application deadlines.
The Section 202 Supportive Housing for the Elderly Program is authorized by section 202 of the Housing Act of 1959 (12 U.S.C. 1701q), as amended.
Range of Approval/Disapproval Time
At the fund reservation stage, the Sponsor usually is advised of the decision within 4 to 5 months from the end of the application period.
From 1 to 15 days. During the period of competition, Sponsors whose applications are rejected by the HUD Office due to noncompliance with program requirements, have the right to appeal the rejection within 14 calendar days from the date of HUD's written notice of rejection.
> 180 Days. Project Rental Assistance Contract payments may not exceed 3 years. However, contracts are renewable for up to a one-year term based on availability of funds.
Formula and Matching Requirements
This program has no statutory formula. This program has no matching requirements. MOE requirements are not applicable to this program.
Length and Time Phasing of Assistance
The capital advance is not repayable so long as the project is available to very low income elderly for 40 years. Projects are expected to start construction within 18 months of the date of the fund reservation, with limited provision for extensions. Funds will be advanced on a monthly basis during construction for work in place. See the following for information on how assistance is awarded/released:. See the following for information on how assistance is awarded/released: Based on percentage of construction completion.
Post Assistance Requirements
All Owners will be required to submit form HUD-96010 Program Outcome Logic Model to HUD on an annual basis.
All Owners will be required to submit a financial statement.
HUD 60002, Section 3 Summary Report, Economic Opportunities for Low- and Very Low-Income Persons (OMB No.
2529-0043) ? For each grant over $200,000 that involves housing rehabilitation, housing construction, or other public construction, the prime recipient must submit Form HUD 60002 (24 CFR sections 135.3(a) and 135.90).
No expenditure reports are required.
No performance monitoring is required.
In accordance with the provisions of 2 CFR 200, Subpart F - Audit Requirements, non-Federal entities that expend financial assistance of $750,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Non-Federal entities that expend less than $750,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in 2 CFR 200.503. HUD reserves the right to audit the accounts of the Owner in order to determine compliance and conformance with HUD regulations and standards.
Regular financial reports are required. Owners must service and maintain records in accordance with acceptable mortgage practices and HUD regulations. Owners also must supply those records necessary to indicate compliance with the project rental assistance contract.
(Direct Payments for Specified Use) FY 15 $354,000,000; FY 16 est $356,000,000; and FY 17 est $430,000,000
Range and Average of Financial Assistance
No Data Available.
Regulations, Guidelines, and Literature
24 CFR 891; HUD Handbooks 4571.3 REV-1 and 4571.5; and Notice H 96-102, as extended. Notice H 2009-10 and Notice H 2011-18.
Regional or Local Office
See Regional Agency Offices. The HUD Multifamily Hub structure consists of 18 Multifamily Hub Offices. Each Hub administers multifamliy housing programs based on its geographical jurisdiction. For a listing of all Multifamily Hub Offices and their associated local Multifamily Program Center(s) (local HUD Office) please visit http://www.hud.gov/offices/hsg/mfh/mfbroch/hubs_pcs.cfm.
Alicia Anderson, 451 7th St SW Room 6152, Washington, District of Columbia 20410 Email: email@example.com Phone: (202) 708-3000.
Criteria for Selecting Proposals
Monika Mitchell, founder of Good Business New York, asks, Do You Have What it Takes to Be a Social Entrepreneur? She lists down the five P’s essential in every entrepreneur: Passion. Purpose. Plan. Partner. Profit.