A 9-page Federal Register proposed rule for streamlining the requirements for mixed-finance Section 202 and Section 811 developments was published in the Federal Register at http://www.gpo.gov/fdsys/pkg/FR-2012-03-28/pdf/2012-7316.pdf.
Comments are due May 29th.
According to the preamble, the
rule would streamline the requirements for mixed-finance developments by
removing restrictions on the non-HUD portions of funding of mixed finance
developments. The intent of the proposed amendments is to attract private
capital and the expertise of the private developer community to create
attractive and affordable supportive housing developments for the elderly and
for persons with disabilities.
HUD is also taking this opportunity to
improve and bring up to date certain regulations governing all
Section 202 and Section 811 developments. These changes will permit broader
flexibility in the design of Section 202/811 units, extend the duration
of the availability of capital advance funds, and make a technical correction.
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