Rural Rental Housing
Programs (Section 515)
Rural Development administers the Section 515 Rural Rental
Housing program which provides loan dollars to eligible
applicants, such as, corporations, partnerships, associations,
cooperatives, Indian Tribes and public agencies to construct
housing in rural areas for low income families and senior
citizens, including the disabled and handicapped. The applicants
may obtain rental assistance through the Section 521, Rental
assistance program, which provide funds directly to the owners
for the benefit of the low income tenants so that these tenants
will pay no more than 30 percent of their adjusted income for
rent and utilities. Since 1996, Rural Development in New York
has worked in conjunction with New York State Division Housing
and Community Renewal (DHCR) to leverage tax credit, HOME Funds,
Housing Trust Funds and Rental Assistance in the mission to
provide safe, decent, sanitary and affordable housing in rural
areas.
New York State Division of Housing and
Community Renewal Rental Assistance
(Section 521)
Like the rental assistance provided directly to owners for the
benefit of low income tenants, New York is unique in that the
agency has a Memorandum of Understanding with the Division.
Based on the Memorandum of Understanding, rental assistance is
provided to the owners for the benefit of the tenants in the
same manner as if the agency provided rental assistance. The
Memorandum of Understanding limits State rental assistance to
qualified Section 515 Rural Rental Housing Programs only.
Labor Housing Loans and Grants (Section
514/516)
Funds are provided to build, buy, improve or repair farm labor
housing to provide related amenities. To be eligible for a loan,
the applicant must be an individual farm owner, association of
farmers, nonprofit organization or a public entity and meet
certain other eligibility criteria. To be eligible for a grant,
the applicant must be a nonprofit organization or a public
agency and meet certain other eligibility criteria.
Housing Preservation Grant Program (Section 533)
Grants provided to eligible applicants grantees to conduct
housing preservation programs benefiting very low and low income
rural residents. Funding and application filing periods are
limited and are published in the Federal Register.
Applications and further information about the Multi-Family
Housing Program can be obtained from the
Rural Development office nearest you.
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