BROADCAST EMAIL – Regulatory Update

August 4, 2016

Yesterday, USDA released its long awaited report on investment needs for rural rental housing. The report, entitled The Comprehensive Property Assessment of the USDA Rural Development Multi-Family Housing Portfolio, outlines the costs to maintain and upgrade USDA’s Rural Housing Service’s (RHS) inventory of multifamily housing units. This report is intended to update a 2004 study and report regarding the capital needs of the entire multifamily portfolio.  As CARH members recall this earlier report helped usher in the Multi-family Housing Preservation and Revitalization (MPR) demonstration program at RHS.

According to the report, over the next 20 years, RHS’s multifamily portfolio will have an estimated combined need for additional funding, over the current funding levels, of $5.6 billion to cover basic capital improvements, such as roofs, insulation, accessibility improvements, plumbing, and electrical and structural repairs to USDA-financed rental properties. In 2004, this number was $2.6 billion.

The report also provides a framework for how RHS can more effectively collaborate with stakeholders, policymakers, partner and lawmakers to preserve affordable housing.

Please contact the CARH national office at carh@carh.org or 703-837-9001 should you have questions or concerns.