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HUD Seeks 15% Budget Cut but More Funding for Section 202 Housing

On February 18, 2020 by Jodi Boyne

Yes. You read that correctly. The U.S. Department of Housing & Urban Development (HUD) is seeking a 15% cut to its own funding in fiscal year 2021 that will have a detrimental impact on programs that serve older adults. 

Section 202/PRACs Can Now Leverage Private Capitol to Preserve Affordable Housing

On September 10, 2019 by Bobbie Guidry

Effective immediately, HUD providers of Section 202 Housing for the Elderly with Project Rental Assistance Contracts (202/PRACs) can begin to leverage private capital to preserve their affordable housing over the long-term.  

U.S. House Passes 2020 HUD Appropriations Bill

On July 10, 2019 by Jodi Boyne

The U.S. House approved a bill that increases overall HUD funding by 7%, rejecting the White House’s request to cut thr HUD budget by 18% for the fiscal year that begins Oct. 1. For HUD’s Section 202 Housing for the Elderly account, the bill increases funding by almost 19% compared to fiscal year 2019.

HUD Announces New Sec. 202 Housing Funds

On April 10, 2019 by Bobbie Guidry

The U.S. Housing & Urban Development Department (HUD) released a Notice of Funding Availability (NOFA) for new Section 202 funds. There is $50 million for the construction and ongoing rental subsidy of Section 202 homes. HUD expects to make approximately 30 awards. The deadline to apply is Aug. 28.  

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