In a Notice dated May 9, 2019, the Federal Housing Administration (FHA) announced incentives to encourage affordable multifamily property owners to invest in opportunity zones (OZs). FHA will reduce application fees for certain programs in OZs and will designate a team of underwriters to help in the processing of applications. Fees for properties with at least 90 percent of units eligible for Section 8 or Housing Credit residents will be reduced by two-thirds. The incentives are available to market-rate properties that have not yet submitted a pre-application, and for affordable properties that have not yet applied.