Rural Housing Service August 22, 2011 – Federal Register Recent Federal Regulation Documents

The Rural Housing Service of Rural Development previously announced the availability of funds and the timeframe to submit applications for loans to private non-profit organizations, and State and local housing finance agencies, to carry out a demonstration program to provide revolving loans for the preservation and revitalization of low-income Multi-Family Housing (MFH) in a Notice published November 9, 2010 (75 FR 68748). Rural Development did not receive sufficient applications to use all available funds. As a result, Rural Development is soliciting additional applications under this Notice. Housing that is assisted by this demonstration program must be financed by Rural Development through its MFH loan program under Sections 515, 514 and 516 of the Housing Act of 1949. The goals of this demonstration program will be achieved through loans made to intermediaries. The intermediaries will establish their programs for the purpose of providing loans to ultimate recipients for the preservation and revitalization of low income Sections 515, 514 and 516 MFH as affordable housing.