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USDA Announces Multi-Family Housing Preservation Revolving Loan Fund Demonstration Program Available

Linda Anders
Release Date
Oct 10, 2014
USDA Rural Development, which administers the programs of the Rural Housing Service, announces the availability of over $16.4 million in funding to participate in a demonstration program to provide revolving loan funds for the preservation and revitalization of existing Rural Rental Housing (RRH) projects. The official Notice was published in the Federal Register on September 23, 2014 (Vol. 79, No. 184, Pages 56762 – 56768) announcing the timeframes and guidelines for application submission under the Agency’s Notice of Funding Availability for Section 515 Multi-Family Housing Preservation Revolving Loan Fund (PRLF) Demonstration Program for Fiscal Year 2014. Entities that are eligible to become an intermediary lender for the PRLF program include private non-profit organizations and State or local housing finance agencies. Under the demonstration program, intermediaries will establish a program for the purpose of providing loans to ultimate recipients for the preservation and revitalization of existing Section 515 Multi-Family Housing (MFH) projects and Sections 514/516 Off-Farm Labor Housing (FLH) projects currently financed by USDA Rural Development. The deadline for receipt of applications in response to this Notice is 5 p.m., Eastern Time, December 22, 2014. The application closing deadline is firm as to date and hour. See the Notice for detailed instructions as to forms and supporting documentation required for a complete application at: https://www.federalregister.gov/articles/2014/09/23/2014-22476/notice-of-funding-availability-multi-family-housing-preservation-and-revitalization-demonstration Applications must be submitted to USDA Rural Housing Service; Attention: Tonya Boykin, Administrative Assistant Multi-Family Housing Preservation STOP 0782 (Room 1263–S), 1400 Independence Avenue SW., Washington, DC 20250–0782. For more information on the PRLF Demonstration Program in Nebraska contact Multi-Family Housing Specialist Linda Anders at 402-437-5734 or linda.anders@ne.usda.gov. Visit www.rurdev.usda.gov/ne for information on all of Rural Development’s programs. President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values.