The Purpose of the Section 221
The purpose of the Section 221(d)(3) and Section 221(d)(4) programs is to assist private industry in providing comfortable and attractive rental accommodations for low- and moderate-income families in Section 221(d)(3) program and for moderate-income families in the Section 221(d)(4) program, with preference or priority of occupancy to such families who have been displaced from urban renewal areas or because of governmental action or as a result of a disaster determined by the President to be a major disaster.
Elderly (62 years of age or older), physically handicapped and displaced single persons are considered families under these programs. Projects may be specifically designed for the elderly and handicapped. Projects for single room occupancy (SRO) also may be insured under Section 221(d).