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June 25, 2014: Tenant Protections Available for Expiring HUD Properties

Some HUD properties are facing expiring mortgages and use restrictions, which might result in rent increases for unassisted tenants. For properties expiring through September 30th, 2014, Congress has provided $5 million for tenant protection vouchers, as sought by allied organizations including the National Alliance of HUD Tenants, the Chicago Housing Initiative, and other members of the National Preservation Working Group, including NHLP. These tenant protections may be used as either enhanced vouchers or Project-Based Vouchers, which would provide deeper affordability for current tenants and preserve affordability for future tenants. HUD recently issued Notice HUD 2014-13 outlining the criteria for distributing funds, which should provide protections for 500-700 tenant households nationwide. There is no application deadline, but funds will be available only until exhausted. To enable advocates to perform local needs assessments, NHLP has prepared an explanatory memo and a list of 340 potentially eligible projects from HUD data.

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