What does this program do?
It restructures loans for existing Rural Rental Housing and Off-Farm Labor Housing projects to help improve and preserve the availability of safe affordable rental housing for low income residents.
Who may apply for this program?
Current multi-family housing project owners with Rural Rental Housing and Off-Farm Labor Housing loans, or applicants who have submitted an application for transfer of ownership of an eligible project may apply for the MPR program. Borrowers must continue to provide affordable rental housing for 20 years or the remaining term of any USDA loan, whichever is later.
How may funds be used?
Funds may be used to preserve and improve existing Rural Rental Housing and Off-Farm Labor Housing projects in order to extend their affordable use without displacing tenants through increased rents. A third party Capital Needs Assessment (CNA) will help identify project needs. The cash flow from the deferred RHS direct loan principal and interest payment will be deposited to the RHS project’s reserve account, or as directed by the Agency, to meet the project’s present and/or future physical needs.
What kinds of funding are available?
This NOSA only offers debt deferral as the agency will utilize MPR funding to address the current waiting list of MPR transactions previously approved in past NOSA’s.
How do we get started?
Selected pre-applications are invited to submit final applications. Find information about how to apply on the To Apply tab.
Who can answer questions?
Find contact information on the Contact tab.
What governs this program?
Notice of Solicitation of Applications
NOTE: Because citations and other information may be subject to change please always consult the program instructions listed in the section above titled "What Governs this Program?"
Preliminary Assessment Tools - Version 8.1 as posted contains updates that align the application evaluation tool with the latest median income and tax credit information published for 2021. This version retains the same enhancements and functionality of Version 8.0. A summary of updates may be found on the “About This Template” sheet within the template.
CNA Template (xlsm) - The CNA Template Ver 1.5h should be used in lieu of all previously used versions of CNA Worksheets. The CNA Template Ver 1.5i 52318 contained errors and should not be used. The template documents the findings reached when using RD's Addendum the Capital Needs Assessment (CNA) process. It includes updated estimated useful life tables and incorporates the rehabilitation guidance and miscellaneous format revisions for consistency with current program initiatives. This form has been tested and verified using the standard Windows Microsoft Excel ® (Excel 2013) to resolve compatibility issues previously reported. Use with other operating systems such as those from Apple® or Android®, or those using earlier spreadsheet programs may continue to experience compatibility issues requiring further discussion in the CNA report.
MPR Application Form - Applications must include all applicable information requested on the MPR application form to be considered complete.
Multifamily Housing Construction Monitoring Checklists (zip) The Construction Monitoring Checklists provide guidance and clarification to assist RD borrowers, applicants and staff throughout the construction submittal, project delivery, and construction monitoring processes. These checklists include general instructions used in meeting the construction requirements per 7 CFR 1924 and 7 CFR 3560.
Multifamily Housing Appraisal Assignment Guidance (zip). The Appraisal Assignment Guidance documents provide standardized appraisal guidance for each multifamily housing program. The documents remove the need for specific appraisal assignment guidance for each individual project. The applicant will download the applicable appraisal assignment guidance based on their specific transaction and provide it to their appraiser in order to obtain an appraisal. Once the appraisal is completed, the applicant will submit the appraisal along with the complete application package to the agency. The appraisal must be submitted with the application. If an appraisal is submitted prior to the application submission, it will be returned to the applicant. The agency will no longer provide specific appraisal assignment guidance for each individual project, instead, the applicant will be responsible for downloading the applicable standardized appraisal assignment guidance for their specific transaction and providing it to their appraiser.
There are no other additional requirements at the national level.
Please send questions about the NOSA to RD.MPR@usda.gov, or contact Fallan Faulkner, Finance and Loan Analyst, Multi-Family Housing, RHS, U.S Department of Agriculture, via email: email@example.com, or by phone: 615-812-0050
Any questions regarding loan obligation dates should be directed to the Agency servicing specialist assigned to the property. Find the Servicing specialist assignments by property.
Rural Housing Service hosted a Multifamily Preservation and Revitalization (MPR) Workshop on April 5, 2022 to discuss the application process, borrower/applicant eligibility and responsibilities, among other topics. The following is a downloadable copy of the MPR Workshop presentation.