The USDA 515 housing portfolio is on the verge of a crisis. Each year, as mortgages mature, many owners are choosing to leave the portfolio, especially in areas that may have been rural 40 years ago but are in areas of high growth and demand today. This means the Rental Assistance subsidies so many rural residents depend on vanish. Rural housing authorities are perfectly positioned to preserve affordability in rural areas by acquiring RD 515 properties. This session will explain the RD transfer process as well as what to expect operationally after the sale is complete.
Presenters:
Angela Shuckahosee MPA
Rental Housing Preservation Specialist, Housing Assistance Council
Robin Davey Wolff
Director, Center for Rural Multifamily Preservation, Housing Assistance Council
Michael Duarte
Deputy Executive Director, Fresno Housing