Money to Developers in Financial Trouble

The U.S. Department of Housing and Urban Development has a program that provides loans to restore or maintain the physical and financial soundness, to assist in the management and to maintain the low- to moderate-income character of certain projects assisted or approved for assistance under the National Housing Act or under the Housing and Urban Development Act of 1965. Flexible Subsidy funds can be lent to eligible projects in an amount based on the projects total needs. It may be used to correct physical deficiencies resulting from deferral of regular maintenance; to reduce deficiencies in replacement reserve funds; and to fund operating deficits. Eligible owners are non-profits, with existing loans from HUD under the Section 202 program. Public bodies do not qualify for this program. (14.164 Operating Assistance For Troubled Multifamily Housing Projects) . Contact your local HUD office or check out the program online at or Office of Housing Assistance and Grants Administration, U.S. Department of Housing and Urban Development, Washington, DC 20410; 202-708-3000


Income Eligibility: None


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