NAHMA HUD Update: Updated Housing Notice Published on Delegated Processing for Certain Capital Advance Projects
Please find the update below from HUD’s Office of Multifamily Housing on Notice H 20-2, Delegated Processing for Certain Capital Advance Projects. Notice H 20-2 is attached and available on the NAHMA website here.
Specifically, this is an update to H 2013-12. The updated notice streamlines the firm commitment process by mandating a timely issuance within12 months. The delegation to state and local agencies will streamline the compliance process for sponsors undertaking mixed-finance transactions (capital advance in combination with other funding sources).
The streamlining in today’s notice is another example of HUD leveraging private sector partnerships to encourage affordable housing investment.
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