ST Mary Development Corp

Purpose: the Department of Housing and Urban Development (hud), Office of Multifamily Housing, Section 202 Supportive Housing for the Elderly Program Helps Expand the Supply of Affordable Housing With Supportive Services for the Elderly. the Program Provides Funding, Called a Capital Advance, to Construct, Acquire, or Rehabilitate Multifamily Properties That Serve Very-low-income Individuals 62 Years of Age or Older. in Addition to the Capital Advance, Properties Receive a Renewable Project Rental Assistance Contract (PRAC) Which Covers Reasonable and Necessary Operating Expenses Beyond the Tenant’s Portion of the Rent. This Usually Includes a Service Coordinator Who Links Residents at Section 202 Properties to Supportive Services in the Community to Allow Them to Live Independently in an Environment That Provides Support Such as Cleaning, Cooking and Transportation. for Additional Information About These Awards Follow This Link (https://hudgis-hud.opendata.arcgis.com/) and Search for “202 Properties” Within the Search for Content or Explore by Category Search Bar.; Activities to Be Performed: Approximately 2,800 Section 202 and Project Rental Assistance Contracts (PRAC) Provide Rental Assistance Annually to 121,000 Households. Owners Receive Federal Funds From Hud to Administer the Section 202 Supportive Housing for the Elderly Program to Construct, Acquire, or Rehabilitate Multifamily Properties. Once the Property Receives Permission to Occupy the Building Occupancy Can Begin. the Owners Accept a Family’s Application for Rental Assistance, Confirms the Family’s Eligibility for Assistance and Selects the Family for Admission in Accordance With the Occupancy Handbook 4350.3 REV-1 (HTTPS://WWW.HUD.GOV/PROGRAM_OFFICES/ADMINISTRATION/HUDCLIPS/HANDBOOKS/HSGH/4350.3). the Family Then Moves Into the Property and Executes the Lease and Agrees to Program Requirements Including Annual Recertification. the Owner Submits for Payment of the Rental Assistance Subsidy Monthly on Behalf of the Participating Family. the Family Pays 30% of Their Adjusted Income in Rent and Utilities and the Prac Contract Pays the Balance of the Contract Rent to the Owner.; Expected Outcomes: the Residents Continue to Live in Affordable Housing Paying 30% of Their Adjusted Income in Rent and Utilities in Housing That Is Decent, Safe, and Sanitary for as Long as They Choose, and the Owner Remains in Compliance With the Capital Advance Agreement and Prac Contract. Additionally, This Program Helps to Expand the Supply of Affordable Housing With Supportive Services for the Elderly/very-low-income Individuals 62 Years of Age or Older.; Intended Beneficiaries: Individuals and Families Who Meet the Eligibility Criteria of the Program and Property as Noted in the Occupancy Handbook, 4350.3 REV-1, Chapter 3 (HTTPS://WWW.HUD.GOV/PROGRAM_OFFICES/ADMINISTRATION/HUDCLIPS/HANDBOOKS/HSGH/4350.3) and Summarized Below Are the Intended Beneficiaries of This Program. • Program Eligibility Determines Whether Applicants Are Eligible for Assistance. Program Requirements Include Income Limits, Disclosure of Social Security Numbers, Consent Forms, Restriction on Assistance to Noncitizens, Restrictions on Eligibility of Students for Section 8 Assistance, Mandatory Use of Enterprise Income Verification System (eiv). • Project Eligibility Establishes Whether Applicants Are Eligible to Reside in a Specific Project to Where They Have Applied. Three Things My Affect the Match Between an Applicant and the Applicant’s Eligibility for Occupancy in a Particular Project: 1. the Extent to Which All or Some of the Units in a Project Are Designated for Specific Family Types, Such as Those Who Are Elderly or Disabled; 2. the Project-specific Occupancy Standards Established by the Owner, the Family Size, and the Unit Sizes Available in the Project; and 3. in Some Instances, a Family’s Intention to Lease Using a Housing-choice Voucher Subsidy That May Be Used in Some Projects and Not in Others. • to Qualify to Live in a Section 202 Property, at Least One Adult Member of the Household Applying Must Be at Least 62 Years Old. the Household Must Make Less Than 50% of the Area Median Income (AMI) of the Location of the Property. Residents at Section 202 Properties Are Typically Charged 30% of Their Adjusted Income for Rent, With the Remaining Costs Covered by the Federal Government.; Subrecipient Activities: the Recipient Does Not Intend to Subaward Funds.