OBAMA ADMINISTRATION ANNOUNCES $6.3 MILLION TO FUND HOUSING FOR VERY LOW-INCOME SENIORS IN NEW HAMPSHIRE
HUD funding critical to support six counseling agencies in New Hampshire

MANCHESTER - More very low-income senior citizens in New Hampshire will have access to affordable supportive housing thanks to $6,279,900 in housing assistance announced today by the U.S. Department of Housing and Urban Development (HUD). These grants will help non-profit organizations produce accessible housing, offer rental assistance, and facilitate supportive services for the elderly.

The grant funding awarded under HUD's Sections 202 and 811 Supportive Housing programs will kick start
construction or major rehabilitation for more than 170 housing developments in 42 different states and Puerto Rico.
In New Hampshire, more than 36 elderly households will be affordably housed with access to needed services. A detailed summary of the New Hampshire grants is included below.

"The Obama Administration is committed to helping our senior citizens find a decent, affordable place to live that is close to needed healthcare services and transportation," said Gregory Carson, HUD New Hampshire Field Office Director. "Recent bipartisan changes to these two supportive housing programs will allow us to better serve some of our more vulnerable populations who would otherwise be struggling to find a safe and decent home of their own."

Enacted early this year with strong bipartisan support, the Frank Melville Supportive Housing Investment Act and the Section 202 Supportive Housing for the Elderly Act provided needed enhancements and reforms to both programs. Nonprofit grant recipients will now receive federal assistance that is better leveraged and better connected to state and local health care investments, allowing greater numbers of vulnerable elderly and disabled individuals to access the housing they need even more quickly.

Section 202 Capital Advances will provide $545 million nationwide to 97 projects in 42 States and Puerto. In addition to funding the construction, acquisition, and rehabilitation of multifamily developments, HUD's Section 202 program
will also provide $54 million in rental assistance so that residents only pay 30 percent of their adjusted incomes. Section 202 provides very low-income elderly persons 62 years of age or older with the opportunity to live independently in an environment that provides support services to frail elderly resident.

HUD provides these funds to non-profit organizations in two forms:

• Capital Advances. This is funding that covers the cost of developing, acquiring, or rehabilitating the development. Repayment is not required as long as the housing remains available for occupancy by very low-income elderly persons for at least 40 years for (under Section 202) or very low-income persons with disabilities (under Section 811).
   
• Project Rental Assistance Contracts. This is funding that goes to each development to cover the difference between the residents' contributions toward rent and the cost of operating the project.

Residents must be "very low income" with household incomes less than 50 percent of their median for that area. However, most households that receive Section 811 or Section 202 assistance earn less than 30 percent of the median for their area. Generally, this means that a one-person household will have an annual income of about $13,500.

NEW HAMPSHIRE GRANTS

Section 202 - Supportive Housing for the Elderly

Project Location: Lancaster, NH
Non-Profit Sponsor: SNHS Management Corporation
Capital Advance: $3,245,500
Three-year rental subsidy: $243,300
Number of units: 20
Project Description: Southern New Hampshire Services Management Corp. has sponsored many successful elderly projects throughout New Hampshire. The latest will be located in Lancaster, New Hampshire and will provide 20 units of affordable housing to this northern town. SNHS incorporates design elements such as community rooms, patios,
and the overall building design which easily blends into the surrounding neighborhood, giving the residents a sense of home.

Project Location: Manchester, NH
Non-Profit Sponsor: SNHS Management Corporation
Capital Advance: $2,596,400
Three-year rental subsidy: $194,700
Number of units: 16
Project Description: This is the third and final phase of the elderly housing project in Manchester, New Hampshire sponsored by Southern New Hampshire Services Management Corp. The property was the former site Our Lady of Perpetual Help Parish. The 34-unit Phase I was completed and occupied in August 2010. Phase II, with 20 units, will be completed and occupied in November 2011. The 16 units to be constructed in Phase III will complete the
property. The sponsor is also constructing a park on site to honor the Church which once stood there.

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HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov. You can also follow HUD on twitter @HUDnews, on facebook at www.facebook.com/HUD, or sign up for news alerts on HUD's News Listserv.