Yesterday, USDA published a Request for Proposals: Multi-Family Housing Transfer and Prepayment Technical Assistance Grants. The Technical Assistance grants authorized under this Notice are for the purpose of facilitating the transfer and preservation of existing Section 515 Rural Rental Housing (RRH) properties with maturing mortgages.
In 2017, Congress appropriated $1 million to provide grants to qualified non-profit organizations and public housing authorities to provide financial and legal technical assistance to MFH loan applicants to facilitate the acquisition of Rural Housing Service (RHS) Section 515 properties with maturing mortgages, in areas at risk of losing affordable housing. Work performed under these grants is expected to result in the preservation and continued availability of decent, safe, and sanitary housing.
Responding entities are encouraged to submit a grant proposal for multiple local areas within the same region. Program and application guidance is available here. The deadline for receipt of all proposals in response to this RFP is 5:00 pm EST on March 29th, 2018.
The Request for Proposals can be viewed online here.