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These communities are owned by private management companies or an individual private owner.
Section 202. Program participants pay 30 of their net income for rent. Section 202 housing is a program funded by the u s. It provides very low income elderly with options that allow them to live independently but in an environment that provides support activities such as cleaning cooking transportation etc.
It provided direct loans and capital advances from the federal government to support nonprofit entities to build housing for very low income elderly. Depending on their health conditions seniors are provided with housing options that allow them to live independently or with daily support services. Department of housing and urban development hud in efforts to provide rent assistance and housing placement for low income seniors.
The section 202 program provides capital advances and operating subsidies to facilitate the creation of multifamily housing for very low income elderly persons more for more information contact your local hud multifamily office. The section 202 program helped expand the supply of affordable housing with supportive services for the elderly. The section 202 supportive housing for the elderly program provides affordable apartment communities for seniors.
These properties are owned by private management companies or an individual private owner often nonprofit organizations.
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