Rural Housing Service March 16, 2006 – Federal Register Recent Federal Regulation Documents

USDA Rural Development (RD) administers the programs of Rural Housing Service (RHS). RD announces the availability of funds and the timeframe to submit applications to participate in a demonstration program to preserve and revitalize existing rural rental housing projects financed by RD under section 515 of the Housing Act of 1949. The intended effect is to restructure selected existing section 515 loans expressly for the purpose of ensuring that sufficient resources are available to preserve the rental project for the purpose of providing safe and affordable housing for low-income residents. Expectations are that properties participating in this program will be able to be revitalized and extend affordable use without displacing tenants because of increased rents. No additional Rental Assistance units will be made available under this program.