Changes Related to Reserve Account Administration in Multi-Family Housing (MFH) Direct Loan Programs
rural-development · Rural Housing Service · Rule · Published 2024-03-18 · Effective 2024-04-17 · 89 FR 19225
Document
Document number
2024-05571
Federal Register citation
89 FR 19225
CFR reference
7 CFR 3560
Type
Rule
Action
Final rule.
Category
rural-development
Sub-agency
Rural Housing Service
Publication date
2024-03-18
Effective date
2024-04-17
USDA docket
Docket #: RHS-23-MFH-0025
Abstract
The Rural Housing Service (RHS or Agency), a Rural Development (RD) agency of the United States Department of Agriculture (USDA), is updating its regulations and implementing changes related to the administration of property reserve accounts under the Multi-Family Housing (MFH) section 515, Rural Rental Housing (RRH), and section 514, 516 Farm Labor Housing (FLH) programs. This final rule will increase flexibility in project refinancing for additional capital improvements needed at MFH section 515, RRH, and section 514, 516 FLH properties.