HUD Issues Notice on Project-Based Rental Assistance and Income-Based Use Restriction Transfers

On March 31, HUD published a notice in the Federal Register establishing the terms and conditions by which HUD will approve an owner’s request to transfer the project-based rental assistance, statutorily required income-based use restrictions, and debt held or insured by HUD at a multifamily project that is obsolete or not economically viable to another property that is in better physical or financial condition.

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