HUD ANNOUNCES FUNDING TO CREATE AFFORDABLE HOUSING FOR LOW-INCOME ELDERLY IN NEW HAMPSHIRE

It will soon be easier for senior citizens in Swanzey to find affordable housing, thanks to more than $5.4 million in funding awarded to Southwestern Community Services announced today by U.S. Department of Housing and Urban Development Regional Director Taylor Caswell.

The funding, part of $518.9 million awarded nationally, and $10.5 million awarded in New Hampshire, is granted under HUD's Section 202 program, which provides critical funding to help expand the supply of affordable housing with supportive services for the elderly. The program provides very low-income seniors with options that allow them to
live independently, but in an environment that provides support services.

"This is among the most competitive grant processes we have at HUD, and it serves a vital need by making sure
low-income senior citizens have a safe, decent, and affordable place to live," said Caswell. "Receiving a grant under this program speaks volumes about the coordination and professionalism involved in making this project a reality,
from Southwestern Community Services to town officials in Swanzey, this has to be a team effort and we at HUD
are thrilled to be part of that team."

In a very creative approach to meeting affordable housing needs, Southwestern Community Services submitted two applications for two phases of North Swanzey Senior Housing. Unprecedented, both phases were funded in the same round to create 38 one-bedroom apartments.

"SCS has broken new ground for the development of affordable housing in many southwestern New Hampshire cities and towns," said William A. Marcello, SCS chief executive officer. "We are pleased to be again breaking new ground here in Swanzey as we deliver even more senior housing opportunities through the very prolific HUD 202 Senior Housing development program."

Southwestern Community Services has an excellent track record administering HUD funding. Over the past 15 years, the agency has received more than $50 million to create more than 250 affordable housing units in New Hampshire.
In addition to the funding for the construction, the grant provides an additional $422,400 in rental subsidies which
will allow the residents to only pay up to 30 percent of their adjusted incomes as rent.

To be eligible for assistance under the Section 202 program, household income cannot exceed 50 percent of the
area median income. In Swanzey, the area median income is $64,800.

Over the past two years, HUD has awarded more than $13.5 million in New Hampshire to create 97 units of
affordable housing for low-income elderly.

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Project Location: Bristol, NH
Non-Profit Sponsor: SNHS Management Corporation
Capital Advance: $2,711,900
Rental subsidy: $211,200
Number of units: 19
Project Description: Sponsored by Southern New Hampshire Services, the Bristol, New Hampshire project will consist of 19 one-bedroom units for the elderly. The new-construction design will be universal and barrier-free usable by all persons regardless of their mobility limitations. SNHS has a long and successful history of providing elderly housing through HUD and believes in the concept of "aging in place".

Project Location: Pembroke, NH
Non-Profit Sponsor: Belknap-Merrimack CAP
Capital Advance: $2,426,400
Rental subsidy: $189,000
Number of units: 17
Project Description: In 2006, the CAP agency was awarded a Section 202 grant to construct 23 units of elderly housing in the Town of Pembroke. The 17 units awarded in the current funding round will be located on the same property as the 2006 award. Currently, there are no subsidized elderly properties in Pembroke.