Affordable Housing Grant
Community Housing Network Awarded HUD Section 811
Troy, MI– On October 29, 2007, Community Housing Network was awarded a HUD Section 811 grant. The HUD Section 811 grant is the most significant affordable housing resource available to people with disabilities. This grant will provide 8 units of affordable housing for persons with disabilities at four separate condominiums located in the cities of Farmington Hills and Southfield. All of the properties are currently occupied by people with developmental disabilities or mental illness and very low-income. The residents pay 30 percent of their adjusted income for rent and the HUD 811 grant subsidizes the rest. This award includes a Capital Advance in the amount of $847,525 for acquisition and rehab of the properties and a Program Rental Assistance Contract (PRAC) which is a 3-year renewable contract totaling $93,600 for the 3 year period ($31,200 annually). FYI--Most households that receive Section 811 assistance have an income less than 30 percent of the area median. Generally, this means that a one-person household will have an annual income of about $12,550.
