--30--

“How we care for our elderly population is a reflection of our values as a society,” said Lincoln. “I commend Pocahontas Senior Housing, Inc., for seeking these federal dollars to help our parents and grandparents be able to continue living independently as they grow older.”

 

“Access to affordable housing is a quality of life matter,” said Pryor.  “It’s critical that we ensure Pocahontas seniors are able to live independently without risking their physical safety or financial investments.”

 

"From rising prescription drug prices to the increasing costs of winter heating, many seniors are forced to stretch their fixed incomes farther everyday," said Berry.  "This grant will allow seniors to live independently in apartments that are able to accommodate their needs with minimal costs.  Our seniors, who are part of ‘The Greatest Generation,’ deserve all the comforts we can provide them in their retirement years."

 

The grant comes from HUD’s Section 202 program. Under this program, capital advances are made to private nonprofit organizations or nonprofit consumer cooperatives to build, acquire and/or rehabilitate rental housing with supportive services for elderly persons, including the frail elderly, who are 62 years of age or older. The capital advance is interest-free and does not have to be repaid as long as the housing remains available for very low-income elderly persons for at least 40 years.