The U.S. Department of Agriculture’s (USDA) Rural Housing Service (RHS) recently published a proposed rule in the Federal Register to establish new regulations to implement its Rural Development Voucher Program (RDVP) as a permanent program. The RDVP, which has been operating as a demonstration program utilizing a Notice of Funding Availability (NOFA) since 2006, provides voucher assistance to tenants of properties financed through Rural Development’s (RD) Section 515 Rural Rental Housing program. The program is meant to protect multifamily housing tenants who may be subject to economic hardship through prepayment or foreclosure of the RD mortgage. Written comments are due to USDA RHS by October 15.
Click here to read the Notice.
