RHS Issues Notice for Rural Housing Preservation Funding

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The USDA Rural Housing Service (RHS) published a notice in the Federal Register on 8/19/08 that solicits applications by 10/20/08 for $6.4 million in new funds available under its multifamily housing preservation revolving loan fund demonstration program for FY 2008. Eligible organizations can apply to RHS for the funds to make revolving loans to preserve existing rural rental housing or farm labor housing projects financed by RHS under its Section 515, 514, or 516 programs. Eligible applicants are qualified nonprofits and state and local housing finance agencies.