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The Section 202 Elderly Program

The Section 202 Program provides supportive housing for very low-income elderly people. Tenants looking to qualify for this type of housing must be over 62 years old and earn below 50% of the regional median income. Financial support is provided to tenants in the form of rental assistance or capital advances. Rental assistance is paid monthly by the entity administering the Housing Assistance Payments (HAP) Contract and covers the difference between what tenants are able to pay and the fair market rate for the apartment. Capital advances are paid in an interest-free lump sum by the housing authority to the landlord. The advance does not need to repay if the housing remains in the service of Section 8 elderly tenants for a duration of 40 years.

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