WASHINGTON, July 2 -- Rural Housing Service has issued a proposed rule called: Direct Multifamily Housing Subsequent Loans for Acquisition.
The proposed rule was published in the Federal Register on July 2 by George Kelly, Administrator, Rural Housing Service.
Summary: The Rural Housing Service (RHS or the Agency), a Rural Development agency of the United States Department of Agriculture (USDA), proposes to amend the current regulation for the Direct Multifamily Housing (MFH) Loan and Grant Programs. The intent of this proposed rule is to include acquisition as an applicable form of assistance for direct MFH subsequent loans. This regulatory change would allow owners of MFH initially financed by the Agency to apply for Agency funds to hel...