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document that have been posted as of
05/04/2008
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Document Type:
Grants Notice
Funding Opportunity Number:
FR-5200-N-26
Opportunity Category:
Discretionary
Posted Date:
May 04, 2008
Creation Date:
May 04, 2008
Original Closing Date for Applications:
Jul 10, 2008
Current Closing Date for Applications:
Jul 10, 2008
Archive Date:
Jul 11, 2008
Funding Instrument Type:
Grant
Category of Funding Activity:
Housing
Category Explanation:
Expected Number of Awards:
Estimated Total Program Funding:
Award Ceiling:
$431,706,000
Award Floor:
CFDA Number(s):
14.157
--
Supportive Housing for the Elderly
Cost Sharing or Matching Requirement:
No
Eligible Applicants
Others (see text field entitled "Additional Information on Eligibility" for clarification)
Additional Information on Eligibility:
Private nonprofit organizations and nonprofit consumer cooperatives that meet the threshold requirements contained in the General Section and Section III.C. 2. of this NOFA are the only eligible applicants under this Section 202 program. Neither a public body nor an instrumentality of a public body is eligible to participate in the program.
Applicant eligibility for purposes of applying for a Section 202 fund reservation under this NOFA has not changed; i.e., all Section 202 Sponsors and Co-Sponsors must be private nonprofit organizations and nonprofit consumer cooperatives. However, the Owner corporation, when later formed by the Sponsor, may be (1) a single-purpose private nonprofit organization that has tax-exempt status under Section 501(c)(3) or Section 501(c)(4) of the Internal Revenue Code of 1986, (2) nonprofit 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, a for-profit limited partnership with a private nonprofit organization as the sole general partner.
Agency Name
Department of Housing and Urban Development
Description
HUD provides capital advances and contracts for project rental assistance in accordance with 24 CFR part 891. Capital advances may be used for the construction or rehabilitation of a structure, or acquisition of a structure with or without rehabilitation. Capital advance funds bear no interest and are based on development cost limits in Section IV.E.3. Repayment of the capital advance is not required as long as the housing remains available for occupancy by very low-income elderly persons for at least 40 years.
PRAC funds are used to cover the difference between the tenants' contributions toward rent (30 percent of adjusted income) and the HUD-approved cost to operate the project. PRAC funds may also be used to provide supportive services and to hire a service coordinator in those projects serving frail elderly residents. The supportive services must be appropriate to the category or categories of frail elderly residents to be served.
