Lincoln, Nebraska, Dec 19, 2012 -- The United States Department of Agriculture (USDA) Rural Development published NOTICES in the December 19, 2012, Vol. 77, No. 244 Federal Register (pages 75121 – 75130) announcing the timeframes and guidelines for applications to be submitted under the Agency’s Notice of Funding Availability: Sections 514, 515, and 516 Multi-Family Housing Revitalization Demonstration Program (MPR) for Fiscal Year 20113. Applications are awarded funding based on a national competitive application process.
Under the demonstration program existing Section 515 Multi-Family Housing (MFH) loans and Section 514/516 Off-Farm Labor Housing loans will be restructured to ensure that sufficient resources are available to preserve the ability of rental projects to provide safe and affordable housing for very low-, low- or moderate-income residents. Grants are also available for non-profit owners for this purpose. The properties participating will be revitalized and the affordable use will be extended without displacing tenants because of increased rents. No additional Agency Rental Assistance (RA) units will be made available under this program.
The deadline for receipt of all pre-applications in response to this Notice is 5 p.m., Eastern Time, February 28, 2013. The pre-application closing deadline is firm as to date and hour. All funding for MPR transactions are subject to the availability of funds for this purpose. Applicants must submit a pre-application. Applicants are encouraged, but not required, to provide an electronic copy of all hard copy forms and documents requested by this Notice.
See the Notice for detailed instructions as to form and content for the electronic submission of documents. The form to be used for the pre-application is available with the notice or on the Internet at http://www.rurdev.usda.gov/RD_NOFAs.html .
Hard copy pre-applications can be mailed to the attention of Sherry Engel or Tiffany Tietz, at email@example.com or firstname.lastname@example.org, at (715) 345–7677; or (616) 942–4111, extension 126, Finance and Loan Analyst, Multi-Family Housing Preservation and Direct Loan Division, STOP 0782 (Room 263–S), U.S. Department of Agriculture, Rural Housing Service, 1400 Independence Avenue SW., Washington, DC 20250–0781. (Please note this telephone number is not a toll free number.)
For more information in Nebraska contact Linda Anders at 402-437-5734 or email@example.com. Visit http://www.rurdev.usda.gov/NEHome.html. For additional information on RD projects, please visit Rural Development’s new interactive web map featuring program funding and success stories for fiscal years 2009-2012. The data can be found at: http://www.rurdev.usda.gov/RDSuccessStories.html.
President Obama’s plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President’s leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities. USDA’s investments in rural communities support the rural way of life that stands as the backbone of our American values. President Obama and Agriculture Secretary Tom Vilsack are committed to a smarter use of Federal resources to foster sustainable economic prosperity and ensure the government is a strong partner for businesses, entrepreneurs and working families in rural communities.
USDA, through its Rural Development mission area, has an active portfolio of more than $172 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.