The elderly, especially those with low incomes, will now be rewarded not only with a roof over their heads but with a new hope that the government is still looking out after them despite the difficulties most of their counterparts in other areas are facing at the moment.
The U.S. Department of Housing and Urban Development (HUD) released more than $17 million to provide homes for low-income seniors.
The money was granted to senior housing development organizations to cover the cost of building affordable housing for elders in an environment where supportive services like cleaning, transportation, cooking, and others are readily available.
Housing development organizations from thirty states will receive the “pre-development” grants from the HUD to help them finish their housing projects. An individual grant can amount to $400,000 while a single sponsor or its affiliated organizations can get a maximum of $800,000.
"This funding will help these organizations cope with the complexities of developing vitally important elderly housing projects in their communities," said U.S. Housing and Urban Development Secretary Steve Preston, who announced the awarding of grants Tuesday, July 8.
"These funds can make all the difference between these senior housing developments getting built or not. In many respects, it's our way of investing in our elderly just as they devoted so much of themselves to us."
The Supportive Housing for the Elderly Program Section of the HUD aims to increase the supply of affordable housing with supportive services to very low-income elderly by giving capital advances to finance the construction and rehabilitation of supportive housing. It also provides rental assistance for elders living on their own.
Sponsors of supportive housing for the elderly won’t have to repay the money given by the government as long as the projects serve senior citizens for forty years. However, HUD’s Supportive Housing for the Elderly Program will only fund projects by private non-profit organizations who meet the necessary requirements and requires housing development organizations to finish building houses within 18 months.
Apply for the program now and provide the elderly with a place to live.
Learn more by visiting the local HUD field office with jurisdiction over the area where the proposed project will be located or go to the HUD website ( www.hud.gov ) for further details.