Public Housing Mortgage Program Opportunity to Comment

HUD has published a draft of a proposal for a new Public Housing Mortgage Program. Website for this new program is HERE. (Good thing they didn't call it the Public Improvement Mortgage Program, eh?).

From the PHMP website:

Through the PHMP, Public Housing Authorities can undertake the development and rehabilitation of low income housing by mortgaging their public housing real estate assets to secure financing with HUD approval. Unlike the Capital Fund Financing Program (CFFP) and the Operating Fund Financing Program (OFFP), the PHMP does not involve the use of public housing funds to repay the financing. Since that time HUD has approved six transactions involving approximately $30 million in financing. The proposed PHMP Notice is intended to advise housing authorities of the framework of the program essentially as it exists today, as well as to solicit public comment on the proposed notice.

Originally created and posted on the Oregon Housing Blog.