Housing Seniors and Veterans in Rural America

August 28, 2013

Considerations for Rural Communities

• Planning • Capacity

• Partnerships• Other Housing Needs

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Resources

• HUD Office of MultiFamily• HUD Office of Healthcare• HUD CDBG/Iowa Economic Development Authority

• HUD‐VASH vouchers• Small Business Administration (SBA)•

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HUD Resources• HUD Office of MultiFamily

– Section 221 (d) 3 – Non‐Profit developer –Mortgagee can receive insured mortgage up to 100% of     replacement costs.

– Section 221 (d) 4 – For Profit developer.Mortgagee can receive max mortgage of 90% of               replacement costs.

–

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HUD Office of MultiFamily

–Proceeds may be used for new construction or substantial rehabilitation

–Projects must have 5 or more units–Insures lenders against loss on mortgage defaults

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HUD Office of MultiFamily

–Moderate income tenants – no income limits

–Allows for long term mortgage – up to 40 years

–Projects may be designated specifically for elderly or disabled 

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HUD Resources

• HUD Office of Healthcare– Section 232 – Skilled Nursing Homes, Assisted  Living  Facilities, Intermediate Care Facilities, Board and Care Homes.

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HUD Office of Healthcarecontinued

• Use of FHA‐Healthcare Insured Loans:– Construction Financing– Refinancing– Replacement Facilities– Expansion– Modernization

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HUD Office of Healthcarecontinued

• For More Information:

www.hud.gov/healthcare

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CDBG Resources

• Iowa Economic Development Authority– Community Development Block Grant (CDBG)

• Annual competitive program• Funds owner‐occupied rehabilitation for single family homes

• Projects must primarily benefit low and moderate income persons

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CDBG Resources

• Iowa Economic Development Authority– Community Development Block Grant (CDBG)

• Maximum per unit subsidy = $37,500

Contact:515‐725‐3081housing@iowa.gov

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Veterans Affairs Supportive Housing (VASH)

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Veterans Affairs Supportive Housing (VASH)

– VA and HUD Commitment • VA is committed to the Federal Plan to Prevent and

End Homelessness, which calls for coordinated strategic cooperation with our community partners

• VA and HUD have established the nation’s largest supported permanent housing initiative

• HUD and VA work together on the U.S. Interagency Council on Homelessness

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Veterans Affairs Supportive Housing (VASH)

–Iowa PHAs with VASH• Council Bluffs 10• Davenport 45• Des Moines 135• Iowa City 50• Mason City 35• Sioux City 25

Total                300

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Veterans Affairs Supportive Housing (VASH)

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PHA and Housing Process Referral is made in writing to the PHA from the VA

Case manager assistance (if needed): o Complete forms o Work out transportation issueso Locate suitable housing following PHA

guidelines

Veterans Affairs Supportive Housing (VASH)

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o Request PHA inspection and approval of selected unit

o Address obstacles and barriers o Facilitate communication between PHA

and Veteran

Veterans Affairs Supportive Housing (VASH)

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–Kathy Ritzler–HUD VASH SME, Region 7–515‐284‐4315–Kathy.R.Ritzler@hud.gov

HUD Contact

Small Business Administration (SBA) Resources

• Builders Line Program– The SBA provides up to an 85% guarantee– Provides financing for small contractors or developers to construct or rehabilitate residential property 

– Building project serves as collateral– Loan maturity generally 3 years

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SBA continued• Builders Line Program

– Proceeds of loan used solely for direct expenses of:

• Acquisition• Immediate construction and/or significant rehabilitation

– Land purchase can be included – cannot exceed 20% of loan proceeds

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For More InformationEarl.E.Redrick@hud.gov

402‐492‐3134 Omaha, NE Field Office

Steven.Eggleston@hud.gov515‐323‐2462

Des Moines, IA Field Office

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