HUBBARD - The City of Hubbard is set to receive nearly $5 million toward senior citizen housing from a federal Housing and Urban Development initiative.
Mayor Richard Keenan verified information on the HUD website Monday that the Trumbull Housing Development Corp. and Paragon Residential Solutions Corp. are co-sponsors of Hubbard Village Apartments, a new three-story, 34-unit complex for low-income senior citizens in Hubbard.
''We know it's very strongly needed in our community, and our seniors deserve it. I couldn't be happier," Keenan said.
He added that the city's officers have been working with the Trumbull County Metropolitan Housing Authority to obtain the grant since before Keenan took office.
Keenan said there is a waiting list of anywhere from six months to a year and a half for admission to two other senior residences in Hubbard, including the Hubbard Manor on Bentley Avenue, which is undergoing a $6 million renovation through a different grant.
The HUD website states that the Section 202 Capital Advance amounts to $4.52 million, with another $435,600 coming from a three-year rental subsidy.
According to the website, repayment of the advance is not required as long as the housing remains open to "very low-income elderly residents for at least 40 years or very low income persons with disabilities."
"Very low-income" is defined on the site as "residents ...with household incomes less than 50 percent of their median for that area." That commonly translates to less than $13,500 a year, the site states.
Across Ohio, 10 grants were awarded totaling more than $39.6 million. Of those, seven were Section 202 capital advances, and three were Section 811 capital advances for rental assistance. The website states the grants will create 196 housing complexes across the state.
The grants are the result of the Frank Melville Supportive Housing Investment Act and the Section 202 Supportive Housing for the Elderly Act. Grants are awarded to nonprofit organizations.