Eligible Applicants:
Unrestricted (i.e., open to any type of entity above), subject to any clarification in text field entitled "Additional Information on Eligibility"
Additional Information on Eligibility:
An entity is an Eligible Applicant and may apply under this NOFO if it:1. Owns a property that is assisted under one of the following forms of assistance contract with HUD:Properties assisted by the following types of Project-Based Rental Assistance (PBRA) Housing Assistance Payments (HAP) Contracts:New ConstructionState Housing Agencies ProgramSubstantial RehabilitationSection 202/8Rural Housing Services Section 515/8 (including Section 8 Farmer Home Administration (FmHA))Loan Management Set-Aside (LMSA)Property Disposition Set-Aside (PDSA)Rental Assistance Demonstration (RAD) PBRA Contracts executed on or before September 30, 2021Pension Fund PBRA Contracts executed on or before September 30, 2021.Properties assisted under Section 202 of the Housing Act of 1959 (12 U.S.C. 1701q) and Section 202 of the Housing Act of 1959 (former 12 U.S.C. 1701q), as such section existed before the enactment of the Cranston-Gonzalez National Affordable Housing Act (“Section 202”), including:Section 202/162 Project Assistance Contract (PAC)Section 202 Capital Advance (commonly known as “Section 202 Project Rental Assistance Contract” (PRAC) properties)Section 202 Direct Loans (commonly known as “Pre-1974 Section 202 Direct Loan” properties)Properties assisted under Section 811 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 8013) (“Section 811”), including:Section 811 Capital Advance (commonly known as “Section 811 Project Rental Assistance Contract” (PRAC) properties)Section 811 Project Rental Assistance (PRA)Properties assisted under Section 236 of the National Housing Act (12 U.S.C. 1715z-1) which are receiving Section 236 Interest Reduction Payments (IRP)2. Has a signed purchase agreement, purchase option, or an agreement or option to enter into a long-term ground leasehold interest (more than 50 years) for a property assisted under the programs listed above, provided that A) the applicant submits a consent to the application executed by the owner; B) at the time of any request by HUD for confirmation between the date of application and the financial closing, the purchase has either been consummated or the purchase agreement or purchase option remains valid; and C) the applicant or its assignee is the legal owner of the property at the point of Closing as defined in Housing Notice H 2023-05. Individuals, foreign entities, and sole proprietorship organizations are not eligible to compete for, or receive, awards made under this announcement.