May 30, 2017: Prepayments and Loan Maturities: Protecting Residents and Preserving RD Rental Housing
Thousands of Rural Development (RD) rental housing units are lost due to prepayment each year. Thousands more will reach loan maturity over the next few years. RD development that house low-income residents lose their Rental Assistance and Interest Credit Subsidies when a loan is prepaid or matures. This webinar address how you can find out whether a development in your area is maturing or is being prepaid. It reviews RD regulations, Administrative Notices and other policies intended to preserve these developments and protect residents against displacement. It also discusses what nonprofit and public entities can do to preserve the housing. Significantly, the webinar reviews ways in which RD prepayment and voucher regulations do not conform to their authorizing statutes and, as a result, fail to preserve developments or prevent resident displacement.
Webinar materials can be downloaded here.