New program broadens financing alternatives for frail elderly housing.

HUD's recent initiative in offering the financing vehicle to induce affordable housing and supportive services for the frail elderly population represents a creative solution to providing noninstitutional environments for many of our nation's seniors. For "ready to go" projects, the red tape nightmares of the past in dealing directly with HUD are dramatically eliminated through the various co-insurance programs. It is anticipated that a significant volume of board and care ventures will be processed by the authorized co-insurers in the next several years, as HUD hopefully will expand its involvement in providing shelter for our aging population.