Affordable Housing - McKnight's Senior Living

Affordable Housing

Affordable senior housing operators may be penalized due to confusion over Paycheck Protection Act program eligibility

Confusion over whether not-for-profit affordable seniors housing providers are eligible for loans through the federal Paycheck Protection Program has providers in danger of either being penalized if they accepted funds inappropriately or of missing out on funds if they don’t apply because they believe they aren’t eligible. Today is the deadline for all PPP borrowers to return funds without penalty if they received funds for which they are not eligible.

One-fifth of new project to feature ‘affordable rates’

Real estate and development firm KT Urban received unanimous approval by the city of Cupertino Environmental Review Committee this month to move forward with its plans for an enhanced senior and family living project, Westport Cupertino. According to a Globe article, the development had exceeded the city of Cupertino’s inclusionary Below Market Rate Housing Program with plans to offer more than 20% of the allowed units at affordable rates.

Affordable senior housing needs COVID-19 guidance, relief, LeadingAge says; CMS, DOJ announce news

LeadingAge has sent a second letter to the White House Coronavirus Task Force, asking the White House and Department of Housing and Urban Development to issue guidance and offer regulatory relief for the thousands of HUD-assisted communities primarily serving older adults. The CDC, CMS and the Department of Justice also announced developments over the weekend.

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