CREJ

April 2022 — Health Care & Life Sciences Quarterly — Page 13 www.crej.com SENIOR HOUSING YOUR PATIENTS COME FIRST WITH US, TOO. SHARED EXPECTATIONS | CERTAINTY OF OUTCOMES O n March 10, Congress passed a $1.5 trillion omni- bus spending bill after months of negotiation among lawmakers in both the House and the Senate. The omnibus spending bill was signed into law by President Biden on March 15 and provides funding for the federal government through fiscal year 2022, ending September 2022. The law significantly increases the funding for the federal senior housing program to a degree not experienced by the U.S. Department of Housing and Urban Development since fiscal year 2010. In its approximately 2,700 pages, H.R. 2471 provides financing for a number of matters, including billions in relief aid to the country of Ukraine, as well as exten- sions for telehealth policies and other general health care provisions as the pandemic enters its third year. In addition to funding efforts relating to these current affairs, the bill also provides discretion- ary funding for all federal agencies, including HUD. Specifically, the bill will deliver gross appropriations of $65.7 billion for HUD’s affordable housing programs, which is a nearly 9% increase from appropriations pro- vided in 2021. Most notably, the bill provides for funding and improvements for housing efforts under the Section 202 housing pro- gram, such as capital advances; senior preservation Project Rental Assistance Contracts, including renewals for existing Section 202 Project Rental Assistance Con- tracts; funding for existing services coordinators; and improvement of broadband access that could prove valuable for rural HUD households and facilities. Through the Section 202 program, HUD provides inter- est-free capital advances to private, nonprofit sponsors to finance the development of supportive housing for the elderly. The capital advance does not have to be repaid as long as the project serves elderly per- sons for 40 years. The impending financial assis- tance comes to the affordable senior housing community at an ideal time, as the United States continues to experience a remark- ably fast growth rate of its citizens over the age of 65 (a rate that is cur- rently on pace to nearly double by the year 2050). In addition to the Section 202 housing program, HUD awards dis- cretionary funding through approxi- mately 20 grant programs that support its initiatives, including Affordable Housing Development and Preservation, Community and Economic Development, Environ- ment and Energy, Fair Housing, Homelessness, Homeownership, Rental Assistance, and Supportive Housing and Services. Entities interested in applying for HUD’s Discretionary Funding Pro- grams may wish to explore HUD’s Notice of Funding Opportunities, which is published each year on grants.gov. A NOFO describes the type of funding available and pro- vides information on application submission, which typically occurs up to 30 to 90 days from the NOFO’s publication. s mblackburn@hallrender.com lpark@hallrender.com Congress passes senior housing program funding Marina Blackburn Attorney, Hall Render Libby Park Attorney, Hall Render The recently passed $1.5 trillion omnibus spending bill will significantly increases the funding for the federal senior housing program to a degree not experienced by the U.S. Department of Housing and Urban Development since fiscal year 2010. The bill will deliver gross appropriations of $65.7 billion for HUD’s affordable housing programs, which is a nearly 9% increase from appropriations provided in 2021.