According to the leaked documents, HUD is contemplating asking Congress for a $42 million cut to the Section 202 program, whose renewal funding need in fiscal year 2017 is $412 million. Funding for Service Coordinator renewals and Senior Preservation Rental Assistance Contracts comprise the rest of the $505 million Section 202 account.
LeadingAge is enthusiastic about the future implementation of RAD for PRAC authority which will allow certain Section 202 PRAC senior housing providers a way to bring private financing to preserve their communities and pursue expansion of enriched affordable living opportunities for seniors by converting their PRAC subsidy to Section 8.
2019 Income Limits Likely to be Late
The White House is expected to provide Congress with a “top line” of its FY20 budget requests the week of March 11. Here, the President’s general budget message, his top priorities, and summary tables will be released.
In February, HUD issued a RADBlast quoting Tom Davis, Director of the Office of Recapitalization in the Office of Multifamily Housing Programs, stating, “This is the first legacy HUD assisted housing program we have fully wound down through RAD, converting a decades old program to the modern and cost-efficient Section 8 platform while still preserving assistance for low-income families.
The partial federal government shutdown ended on January 25, after 35 days of disrupting HUD’s ability to obligate funds to rental assistance contracts and paralyzing other HUD functions.
With HUD and its funding shutdown effective December 21, 2018, HUD was not able to renew 650 contracts for its multifamily housing partners in December. Of these 650 communities with expired contracts, MSNBC spent much of the day on January 14, 2019, broadcasting live from San Jose Manor, a LeadingAge member in Jacksonville, FL with about 100 residents.
We've leveraged some of the best trainers in affordable housing today, taped some of the most highly-rated sessions at recent annual meetings, and created additional resources we hope will be useful for you, LeadingAge subsidized senior housing providers.
More of the Housing-specific Topics include:
Here’s an overview of our work for you in December 2018.