EHDOC Wins Award for $2M+ HUD Section 202 Funds
In April 2019 HUD released a Notice of Funds Available (“NOFA”) encouraging 501(c)3 non-profit organizations across the country to apply for $50M of Section 202 Funds out of the total $251M appropriated by Congress in recent years. EHDOC submitted its application in late August 2019 for 40 additional units in Albuquerque New Mexico, Edward Romero Terrace Phase II. On Friday, February 7, 2020, HUD announced $51.5 million in awards to 18 organizations to build and operate affordable housing for very low income older adults. Of the 18, EHODC was one of them!
Congratulations to Roland Broussard for his outstanding efforts and to the EHDOC team in celebrating this victory as we continue to work tirelessly for more affordable housing. Thankfully, programs like HUD’s Section 202 program exist to provide affordable, quality housing with on-site Service Coordinators to help residents age in their community. Since the program’s revival in the fiscal year 2017 HUD appropriations bill, Congress has provided a total of $251 million for new Section 202 homes (FY17, $5 million; FY18, $105 million; FY19, $51 million; FY20, $90 million). This first $51.5 million released is expected to result in 575 new homes with Project Rental Assistance Contracts (PRAC) as their operating subsidy. Because the communities also use other funding sources, these 575 Section 202 homes will be in developments that comprise a total of 1,100 homes. HUD expects to announce the competition for the remaining Section 202 dollars in Spring 2020.