• NY Apartment Law
  • Fair & Affordable Housing
  • Commercial Lease Law
  • Guidebooks
  • Archives
  • Main Articles
  • Dealing with…
  • Departments
  • eAlerts
  • Log In
  • Log Out
  • My Account
  • Subscribe
  • NY Apartment Law
  • New York Apartment Law Insider
  • New York Landlord V. Tenant
  • Co-Op & Condo Case Law Digest
  • New York Rent Regulation Checklist, Fourth Edition
  • 2025 New York City Apartment Management Checklist
  • Fair & Affordable Housing
  • Fair Housing Coach
  • Assisted Housing Management Insider
  • Tax Credit Housing Management Insider
  • Fair Housing Boot Camp. Basic Training For New Hires
  • Commercial Lease Law
  • Commercial Lease Law Insider
  • Best Commercial Lease Clauses, 17/e
  • Best Commercial Lease Clauses: Tenant's Edition
  • Best Commercial Lease Clauses, 17/e
  • Best Commercial Lease Clauses, 17/e
  • Main Articles
  • Features
  • Certification
  • Compliance
  • Income Calculations
  • Maintenance
  • Rents
  • Verification
  • Dealing with…
  • Dealing with Employees
  • Dealing with Households
  • Dealing with Owners
  • Dealing with the IRS
  • Dealing with State Housing Agency
  • Departments
  • Dos & Donts
  • In the News
  • Private Letter Rulings
  • Q&A
  • Ask the Insider
May 24, 2025
We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
The Habitat Group Logo
  • NY Apartment Law
    • New York Apartment Law Insider
    • New York Landlord V. Tenant
    • Co-Op & Condo Case Law Digest
    • New York Rent Regulation Checklist, Fourth Edition
    • 2025 New York City Apartment Management Checklist
  • Fair & Affordable Housing
    • Fair Housing Coach
    • Assisted Housing Management Insider
    • Tax Credit Housing Management Insider
    • Fair Housing Boot Camp. Basic Training For New Hires
  • Commercial Lease Law
    • Commercial Lease Law Insider
    • Best Commercial Lease Clauses, 17/e
      • Best Commercial Lease Clauses, 17/e
    • Best Commercial Lease Clauses: Tenant's Edition
  • Guidebooks
  • May 24, 2025
  • Log In
  • Log Out
  • My Account
  • Subscribe
  • May 24, 2025
tchmi.webp
  • Archives
  • Main Articles
    • Features
    • Certification
    • Compliance
    • Income Calculations
    • Maintenance
    • Rents
    • Verification
  • Dealing with…
    • Dealing with Employees
    • Dealing with Households
    • Dealing with Owners
    • Dealing with the IRS
    • Dealing with State Housing Agency
  • Departments
    • Dos & Donts
    • In the News
    • Private Letter Rulings
    • Q&A
    • Ask the Insider
  • eAlerts
Free Access
The Habitat Group Logo
May 24, 2025
  • Log In
  • Log Out
  • My Account
Home » Obama Signs Legislation Supporting Section 202 Housing

Obama Signs Legislation Supporting Section 202 Housing

Jan 24, 2011

In early January, President Obama signed S. 118, “Section 202 Supportive Housing for the Elderly Act of 2010,” which streamlines financing and project operation requirements and allows for increased housing opportunities for low-income seniors.
The American Association of Homes and Services for the Aging (AAHSA) lobbied for the bill’s passage, which includes several construction, refinancing, and preservation reforms. Among them:

  • HUD’s Secretary has the authority to adjust the annual amount of a contract for project rental assistance to provide for reasonable project costs.
  • Owner deposits will only be used for operating deficits during the first three years of operation and shall not be used to cover construction shortfalls or inadequate initial project rental assistance amounts.
  • If a national private nonprofit organization owns multiple housing projects assisted under the Act, it can satisfy the local governing board requirement by having a local advisory board to its national governing board.
  • HUD’s Secretary can allow the owner of an assisted housing site to give a preference in tenant selection to an elderly person who is homeless.
  • Contains requirements governing senior preservation rental assistance contracts to prevent displacement of elderly project residents in the case of refinancing or recapitalization, and to further project preservation and affordability.
  • Directs HUD’s Secretary to carry out a demonstration program to sell to state housing finance agencies portfolios of mortgages associated with loans related to supportive housing for the elderly.
  • Prohibits HUD from imposing conditions that restrict the sale or refinancing, or require the filing of a financial report, in connection with the sale or refinancing of a multifamily housing project, or the transfer of an assistance contract on such a property requiring HUD approval, unless the condition is expressly authorized by an existing contract between HUD and the project owner or a general condition for new financing with a mortgage insured by HUD.
Online Alerts
    • Related Articles

      President Obama Signs Housing Assistance Reform Bill into Law

      Review of Section 202 Housing Project Looks into Possible Misuse of Funds

      Obama Signs Farm Bill into Law

    • Publications
      • Assisted Housing Management Insider
      • Commercial Lease Law Insider
      • Co-op & Condo Case Law Tracker Digest
      • Fair Housing Coach
      • New York Apartment Law Insider
      • New York Landlord v. Tenant
      • Tax Credit Housing Management Insider
    • Additional Links
      • Contact Us
      • Advertise
      • Group Subscriptions
      • Privacy Policy
    • Boards of Advisors
      • Assisted Housing Management Insider
      • Commercial Lease Law Insider
      • Fair Housing Coach
      • New York Apartment Law Insider
      • Tax Credit Housing Management Insider
    ©2025. All Rights Reserved. Content: The Habitat Group. CMS, Hosting & Web Development: ePublishing
    The Habitat Group Logo
    • NY Apartment Law
      • New York Apartment Law Insider
      • New York Landlord V. Tenant
      • Co-Op & Condo Case Law Digest
      • New York Rent Regulation Checklist, Fourth Edition
      • 2025 New York City Apartment Management Checklist
    • Fair & Affordable Housing
      • Fair Housing Coach
      • Assisted Housing Management Insider
      • Tax Credit Housing Management Insider
      • Fair Housing Boot Camp. Basic Training For New Hires
    • Commercial Lease Law
      • Commercial Lease Law Insider
      • Best Commercial Lease Clauses, 17/e
        • Best Commercial Lease Clauses, 17/e
      • Best Commercial Lease Clauses: Tenant's Edition
    • Guidebooks
    • May 24, 2025
    • Log In
    • Log Out
    • My Account
    • Subscribe
    • May 24, 2025
    tchmi.webp
    • Archives
    • Main Articles
      • Features
      • Certification
      • Compliance
      • Income Calculations
      • Maintenance
      • Rents
      • Verification
    • Dealing with…
      • Dealing with Employees
      • Dealing with Households
      • Dealing with Owners
      • Dealing with the IRS
      • Dealing with State Housing Agency
    • Departments
      • Dos & Donts
      • In the News
      • Private Letter Rulings
      • Q&A
      • Ask the Insider
    • eAlerts
    Free Access
    The Habitat Group Logo
    May 24, 2025
    • Log In
    • Log Out
    • My Account