Senior Living Property

FHA Emergency Capital Repair Program


This program provides private nonprofit owners of eligible developments designated for occupancy by elderly tenants with grants to make emergency capital repairs. The capital repair needs must be related to items that present an immediate threat to the health, safety, and quality of life of the tenants.


Purpose

The intent of these grants is to provide one-time assistance for emergency items that could not be absorbed within the project's operating budget and other project resources, and where the tenants' continued occupancy in the immediate near future would be jeopardized by a delay in initiating the proposed cure.

Eligility Requirements

Only private, nonprofit owners of Section 202 direct loan projects with or without Section 8 rental assistance; Section 202 capital advance projects receiving rental assistance under their Project Rental Assistance contract (PRAC); Section 515 rural housing projects receiving Section 8 rental assistance; projects subsidized with Section 221(d)(3) below-market interest mortgage; projects assisted under Section 236 of the National Housing Act; and other projects receiving Section 8 project-based rental assistance that are designated primarily for occupancy by the elderly are eligible. These projects must have had closing on or before January 1, 1999.

FHA Special Needs Housing Loans