14.199: Multifamily Property Disposition
Overview
Program Number
14.199
Status
Inactive
Last Modified
Aug. 11, 2014
Date Posted
Aug. 9, 2014
Objective
To manage and dispose of multifamily housing projects that are owned by the Secretary or that are subject to a mortgage held by the Secretary in a manner that is consistent with the National Housing Act; protect the financial interests of the Federal government, and will, in the least costly fashion among reasonable available alternatives: preserve certain housing so that it can remain available to and affordable by low-income persons; preserve and revitalize residential neighborhoods; maintain the existing housing stock in a decent, safe and sanitary condition; minimize the involuntary displacement of tenants; maintain housing for the purpose of providing rental housing, cooperative housing, and home ownership opportunities for low-income persons; supporting fair housing strategies; and dispose of such projects in a manner consistent with local housing market conditions.
Type of Assistance
C - Direct Payments for Specified Use
Applicant Eligibility
These properties can be purchased by governmental entities, private individuals, corporations, or nonprofit organizations who have the requisite qualifications and agree to abide by the conditions set by HUD for the particular property sale.
Beneficiary Eligibility
The ultimate beneficiary of those properties sold for continued use as affordable housing are low-income individuals and families.
Related Programs
Grant Awards
Multifamily Property Disposition direct grants
Grant Opportunities