USDA Rural Housing Service Notice of Funding Availability for Multi-Family Housing Preservation and Revitalization Demonstration

Summary:  Section 514, 515, and 516 for Fiscal Year 2013 USDA Rural Development announced the availability of up to $19.9 million in program dollars, and the timeframe to submit applications to participate in a demonstration program to preserve and revitalize existing rural rental housing projects under these three programs.  Under the demonstration, existing developments under these three programs will be restructured to ensure that sufficient resources are available to preserve the ability of rental projects to provide safe and affordable housing for very low-, low- or moderate-income residents.  Developments participating in this demonstration will be expected to be revitalized to extend their affordable use without displacing tenants because of increased rents. No additional Agency Rental Assistance (RA) units will be made available under this program.  Pre-applications in response to USDA’s notice will be accepted until February 28, 2013, 5:00 p.m., Eastern Time.

Date of Issuance:  December 19, 2012

View the notice here.