OpportunityTitle: FY 2018 Section 202 Supportive Housing for the Elderly Program
AdditionalInformationOnEligibility: 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 are the only eligible applicants under this Section 202 program.  Neither a public body or tribe nor an instrumentality or agency of a public body or tribe is eligible to participate in the program.  Non-profit entities associated with public bodies or tribes must establish their eligibility by providing an attorney&apos;s opinion stating that under state or tribal law the associated entity is not an instrumentality or agency of the public body confirming that such entity 1) meets the definition of &quot;private non-profit organization&quot; under 24 CFR part 891; 2) has Articles of Incorporation which provide no more than minority control by the public body or tribe; and 3) is not receiving a majority of its operational funding from the public body or tribe. The Owner corporation, when later formed by the Sponsor, must be (1) a single-purpose and single-asset private non-profit organization that has tax-exempt status under Section 501(c)(3) or Section 501(c)(4) of the Internal Revenue Code of 1986, (2) non-profit consumer cooperative, or (3) for purposes of developing a mixed-finance project pursuant to the statutory provision under Title VIII of the American Homeownership and Economic Opportunity Act of 2000, as amended, a for-profit limited partnership of which one or more private non-profit organizations hold all general partner interests, a corporation wholly owned and controlled by one or more private non-profit organization(s) as the sole general partner, or a limited liability company wholly owned and controlled by one or more private non-profit organizations.  Individuals, foreign entities, and sole proprietorship organizations are not eligible to compete for, or receive, awards made under this announcement.
Description: HUD is providing Capital Advance funding and project rental subsidies for the development and ongoing operation of supportive rental housing for very low-income persons, aged 62 years or older. This funding, leveraged with other financing sources, will expand affordable housing opportunities that are physically designed and that have a robust set of services that will allow seniors to live independently and age in community.
GrantorContactEmailDescription: Grants Policy
GrantorContactText: 202CapitalAdvanceNOFA@hud.gov
CloseDateExplanation: Electronically submitted applications must be submitted no later than 11:59 p.m., ET, on the listed application due date.