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HUD Issues Guidance on NSP Operating Deficit Reserves, Overhead Expenses, and Combined Loan to Value Ratios
HUD has issued guidance on the following topics:
  • Using NSP funds to establish reserves for operating deficits for rental housing developments by requesting an Exception from the HUD Field Office;
  • Allowing subrecipients, consortium members and public non-profits to charge a “reasonable fee” of 3% to cover overhead expenses; and
  • Permitting Combined Loan to Value (CLTV) ratios over 100% in combination with a conventional first mortgage.
View the guidance here.

 
 
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